Austevoll earnings lower on Peru fishery

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Company’s stellar year marred by its own and Leroy’s smaller wild catch

Austevoll Seafood saw its total turnover fall year-on-year from EUR 550 million to EUR 500 million kroner in the fourth-quarter of 2017, its result weighed down by lower catches in the wild-catch segment and lower prices in aquaculture.

The lower turnover from both wild fish and farmed was impacted by lower prices for Atlantics late in the year and a Peruvian fishing season that closed a few days after it opened on November 23rd.  The Peruvian wild-catch was one of the company’s weakest ever.

EBIT before value adjustments on biomass in the quarter was EUR 60.6 million, down from EUR 96.5 million in the year-ago period.

Earnings from related business in the fourth-quarter was EUR 14.8 million. The company’s largest affiliate businesses are Norskott Havbruk (owner of Scottish Seafarms) and Pelagia, the country’s largest exporter of pelagic fish.

“The Group’s associates are generating positive results and represent substantial value,” the company leadership said in its quarterly comment.