Decline in earnings in the last quarter of 2019.
Lerøy owner Austevoll Seafood received an EBIT before value adjustment of biological assets in the quarter of EUR 65.2 million. There was a significant decline from the corresponding quarter in 2018 when operating profit was EUR 95.5 million.
The group had operating revenues of EUR 584 million in the quarter, compared to EUR 568 million in the fourth quarter of 2018.
“Lower harvest volumes for Atlantic salmon and trout, as well as a significant reduction in catch volume in Peru, are the main causes of lower earnings compared to the same period last year,” Austevoll Seafood said in a stock exchange announcement on Tuesday morning.
Austevoll Seafood’s most important asset is the controlling shareholding in Lerøy Seafood Group. Lerøy – hit by volatile salmon prices – also presented its fourth-quarter results today.
Income from related activities was EUR 17 million in the quarter. The largest affiliated companies are Norskott Aquaculture and Pelagia Holding. Associated companies in the group have over time delivered good results, are significant players in their segments and represent great values for Austevoll Seafood, the company noted.
