Austevoll Seafood ASA

Earnings Release • Feb 25, 2014

FINANCIAL REPORT Q4 AND PRELIMINARY RESULTS FOR 2013

FINANCIAL REPORT Q4 AND PRELIMINARY RESULTS FOR 2013

The Group had operating income for the quarter of NOK

3,624 million (NOK 2,732 million in Q4 2012).

EBITDA in Q4 was NOK 593 million (NOK 204 million in

Q4 2012).

The increase in turnover and EBITDA is mainly

attributable to the Atlantic salmon and trout

segment. Considerably higher prices were achieved for

Atlantic salmon and trout in Q4 2013, compared with

the same quarter in 2012. This is also reflected in

the segment's excellent profit from operations.

The pelagic fisheries segments have also seen an

increase in turnover in Q4 2013, compared with the

same quarter in 2012.

EBIT before value adjustment for biomass was NOK 358

million in Q4 (NOK 78 million in Q4 2012). EBIT after

value adjustment for biomass came to NOK 1,141

million in Q4 (NOK 421 million in Q4 2012).

Write-downs totalling NOK 95 million have been

undertaken during the quarter. Of this, NOK 90

million is related to operations in Peru as a result

of changes to the company's plant structure.

Income from associated companies totalled NOK 152

million in Q4 (NOK 37 million in Q4 2012). This

figure was strongly affected by the IFRS value

adjustment for biomass, which constituted NOK 89.5

million for this quarter.

NPEL was an associated company in the AUSS Group

until January 2013. In consequence of the agreement

between AUSS and Kvefi (see note 6), the accounts

have been restated with NPEL treated as a

discontinued operation held for sale in 2012 and

January 2013. The historical figures for income from

associated companies have been restated

correspondingly.

The largest associated companies are Norskott Havbruk

AS (owner of the Scottish fish farming company

Scottish Sea Farms Ltd.), Villa Organic AS and

Brødrene Birkeland AS.

The Group's net interest expenses in Q4 2013 totalled

NOK 43 million (NOK 54 million in Q4 2012).

Profit before tax and biomass adjustment for Q4 came

to NOK 467 million, compared with NOK 59 million in

the same period in 2012.

The pre-tax profit for the quarter amounted to NOK

1,251 million (NOK 403 million in Q4 2012). Profit

after tax was NOK 970 million, compared with NOK 305

million in the same quarter of 2012.

The Board of Directors will propose to the annual

general meeting that the dividend for the 2013

financial year be set to NOK 1.60 per share, compared

with NOK 1.20 per share for the 2012 financial year.

For further information please see attached report

and presentation.

Questions and comments may be addressed to the

company's CEO, Arne Møgster, or to the CFO, Britt

Kathrine Drivenes.

This information is subject of the disclosure

requirements acc. to §5-12 vphl (Norwegian Securities

Trading Act).