Austevoll Seafood to distribute more than €72 million in dividends after profitable 2018

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Salmon and trout delivering the goods.

Driven by the earnings of the subsidiary Lerøy Seafood Group, Austevoll Seafood landed an EBIT before fair value adjustment related to biological assets in the fourth quarter of 2018 of EUR 98 million.

Read more: Trout downgrade dampened Lerøy’s results this quarter

Income from associated companies in the fourth quarter was EUR 15.4 million.

“The largest associates are Norskott Havbruk and Pelagia. The Group’s associates generate good results, are significant enterprises in their segments and represent substantial values for Austevoll Seafood,” the fishery and fish farming conglomerate wrote in a stock exchange announcement on Tuesday morning.

On an annual basis, Austevoll Seafood had a turnover of EUR 2.1 billion and remained at an operating profit before biomass adjustments of EUR 437 million.

Group operating revenue in Q4 2018 totalled EUR 589 million, compared with EUR 491 million in Q4 2017.

The Board of Directors will propose a dividend of NOK 3.50 (EUR 0.35) per share for the financial year 2018. With 203 million outstanding shares, this means a total dividend of NOK 710.5 million (EUR 72.6 million).