Norway · Delayed Price · Currency is NOK Austevoll Seafood ASA Earnings Call Transcripts
Fiscal Year 2025
-
Q4 and full-year results showed strong operational activity, with higher prices offsetting lower volumes in several segments. Despite lower quotas and biological challenges, profitability was supported by robust market demand and improved margins in key areas.
-
Third quarter results were weaker across all segments due to biological challenges in salmon farming, lower spot prices, and margin pressure in pelagic activities. Despite higher volumes in some areas, earnings declined, but a strong balance sheet and positive fair value adjustments supported net profit growth.
-
Revenue and volumes increased year-over-year, but earnings declined due to lower prices for salmon, trout, fish meal, and fish oil, pressuring margins. Regulatory changes and quota reductions add uncertainty, while investments and strong balance sheet support future operations.
-
Revenue grew 17% to NOK 9.8 billion, with strong pelagic and salmon segment performance. Despite a negative fair value adjustment on biological assets, operational EBITDA and EBIT improved year-over-year. Salmon volumes and biological performance were notably strong.
Fiscal Year 2024
-
Fourth quarter saw strong recovery in Peru, record catches in Chile, and robust biological performance in Lerøy. Full-year revenue reached NOK 35 billion, with significant gains from vessel sales and a proposed dividend increase. Salmon market outlook remains positive despite lower whitefish quotas.
-
Second quarter saw strong recovery in Peru and improved salmon performance, with revenue rising to NOK 9.9 billion and net profit just below NOK 2.2 billion. Gains from vessel sales and higher volumes in key segments drove results, while whitefish faced quota challenges.