Austevoll Seafood results lower despite vessel sale

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Leroy Seafood owner, Austevoll Seafood, saw turnover fall to EUR 598.2 million in the first quarter of 2018, down from EUR 631.65 million in the year-ago period.

The drop in turnover comes as a result of a combination of lower sold volumes of Atlantic salmon and trout and lower achieved prices compared with same quarter of 2017, the company told investors on Tuesday morning.

Achieved EBITDA in the first quarter of EUR 150.2 million was lower than the EUR 161.7 million in the same quarter last year. Included in the quarter’s EBITDA is an accounting gain of EUR 16.32 million for selling the shipping company, Maron, which, when it was sold in January 2018, owned a long-line vessel with a quota of 409 tonnes.

The result before tax and value adjustments related to the company’s biological assets ended up at EUR 138 million.