Brief: Austevoll EBIDTA In Q3 2020 Falls To NOK 789 Million

Austevoll Seafood ASA

11/11/2020 06:08

Nov 11 (Reuters) - Austevoll Seafood ASA  AUSS.OL :
    * FINANCIAL REPORT Q3 2020
    * Q3 OPERATING REVENUE IN Q3 2020 TOTALLED NOK 5,538
MILLION,
COMPARED WITH NOK 5,768 MILLION IN Q3 2019
    * GROUP EBIDTA IN Q3 2020 TOTALLED NOK 789 MILLION, COMPARED
WITH
NOK 901 MILLION IN Q3 2019
    * FALL IN REVENUE AND EARNINGS CAN BE ATTRIBUTED IN MAIN TO
LOWER
PRICES REALISED FOR ATLANTIC SALMON, TROUT AND WHITEFISH
COMPARED WITH SAME PERIOD IN 2019
    * EBIT BEFORE FAIR VALUE ADJUSTMENT RELATED TO BIOLOGICAL
ASSETS
IN Q3 2020 WAS NOK 415 MILLION (Q3 2019: NOK 559 MILLION)
    * ON COVID-19: THE GROUP COMPANIES HAVE MANAGED TO MAINTAIN
CLOSE-TO-NORMAL OPERATIONS IN A CHALLENGING SITUATION
    * ON COVID-19: SEAFOOD MARKET REMAINS SIGNIFICANTLY IMPACTED
BY
THE PANDEMIC
    * THE SITUATION IS ONCE AGAIN MORE UNCERTAIN AT THE START OF
Q4
2020. THE RIPPLE EFFECTS OF COVID-19 HAVE HAD AND WILL CONTINUE
TO HAVE A NEGATIVE EFFECT ON DYNAMICS IN 2020
    * EXPECTS GOOD UNDERLYING GROWTH IN DEMAND TO CONTINUE IN
THE
YEARS AHEAD.
    * THE GROUP HAS AND SHALL CONTINUE TO HAVE THE FINANCIAL
FLEXIBILITY TO SUPPORT ITS STRATEGY OF FURTHER ORGANIC GROWTH,
CARRY OUT STRATEGIC ACQUISITIONS AND SUSTAIN THE COMPANY’S
DIVIDEND POLICY
    * CURRENT PROJECTIONS FOR 2021 ARE FOR A HARVEST VOLUME,
INCLUDING
ASSOCIATES, OF 205,000 - 210,000 TONNES

Source text for Eikon:  ID:nObi8g2rNa 
Further company coverage:  AUSS.OL 

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