Austevoll Seafood ASA

AUSS

Equity

ISIN NO0010073489 / Valor 2591398

Oslo Stock Exchange (2025-04-07)

NOK 93.30+0.70%

Austevoll Seafood ASA
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About company

Austevoll Seafood ASA (AUSS) is a Norway-based seafood company with a diversified portfolio that spans across various segments of the seafood industry. Established in 1981 by Helge Møgster, Ole Rasmus Møgster, and their father, the company has grown from its roots in Austevoll, Norway, to have significant operations in Norway, the UK, Peru, and Chile. AUSS's business activities encompass the ownership and operation of fishing vessels targeting both pelagic and white fish species, the operation of fishmeal plants, canning plants, freezing plants, and salmon farming. Additionally, the company is involved in the marketing and sales of its products, ensuring a comprehensive involvement in the seafood value chain. In 2014, Austevoll Seafood ASA expanded its operations through a strategic merger with Kvefi AS, controlled by Kverva AS, to enhance its capabilities in the pelagic fishmeal, fish oil, and consumer products segments in Europe, under the establishment of Pelagia Holding AS. This move is indicative of AUSS's strategy to strengthen its position in the global seafood market through both organic growth and strategic acquisitions.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Growth

In Q3 2024, Austevoll Seafood ASA reported a revenue of NOK 9,299 million, marking an increase from NOK 8,566 million in Q3 2023. This growth was primarily driven by the Austral Group's successful execution of a normalized first fishing season in Peru, which resulted in significantly higher sales volumes of end products compared to the same period last year.

EBITDA and EBIT Performance

The adjusted EBITDA for Austevoll Seafood ASA in Q3 2024 was NOK 1,192 million, up from NOK 1,011 million in Q3 2023. The adjusted EBIT also saw an increase, reaching NOK 686 million compared to NOK 513 million in the previous year. This improvement in earnings is largely attributed to the normalization of fishery operations in Peru, which bolstered the Austral Group's performance.

Profit Before and After Tax

Austevoll Seafood ASA reported a profit before tax of NOK 53 million in Q3 2024, a significant turnaround from a loss of NOK 399 million in Q3 2023. After accounting for taxes, the profit stood at NOK 168 million, compared to a loss of NOK 508 million in the same quarter of the previous year. This improvement was despite the introduction of a resource rent tax on sea-based production of salmon and trout.

Segment Performance: Lerøy Seafood Group ASA

Lerøy Seafood Group ASA, a key segment of Austevoll Seafood ASA, reported a revenue of NOK 7,891 million in Q3 2024, slightly down from NOK 8,015 million in Q3 2023. The adjusted EBITDA for this segment was NOK 818 million, a decrease from NOK 1,008 million in the previous year, primarily due to lower prices realized for salmon and trout.

Market Outlook

Austevoll Seafood ASA remains optimistic about its market outlook, despite the challenges faced in Q3 2024. The company continues to focus on maintaining strong cash flow and improving operational efficiencies across its segments. The ongoing developments in Chile and the normalization of fishery operations in Peru are expected to contribute positively to the company's future performance.

Summarized from source with an LLMView Source

Key figures

11.9%1Y

-33.9%3Y

16.8%5Y

Performance

22.2%1Y

32.6%3Y

32.7%5Y

Volatility