Brief: Austevoll Seafood Q1 Adj. EBIT NOK 837 Million, Below Estimates

Austevoll Seafood ASA

14/05/2019 06:13

May 14 (Reuters) - Austevoll Seafood ASA  AUSS.OL :
    * FINANCIAL REPORT Q1 2019
    * DECLINE IN REVENUE AND EBITDA WAS MAINLY GENERATED BY A LOWER SALES VOLUME FOR ATLANTIC
SALMON
WHEN COMPARED WITH SAME QUARTER IN 2018
    * Q1 OPERATING REVENUE NOK 5.56 BILLION VERSUS NOK 5.75 BILLION YEAR AGO
    * Q1 EBIT BEFORE FAIR VALUE ADJUSTMENT NOK 837 MILLION (REUTERS POLL NOK 933 MILLION)
    * GROUP CAN REPORT A GOOD UNDERLYING DEMAND FOR SEAFOOD, AND EXPECTS TO SEE SATISFACTORY
MARKET
CONDITIONS FOR 2019 AS WELL
    * BOARD OF DIRECTORS AND MANAGEMENT ARE NOT SATISFIED WITH THE GROUP’S RELEASE FROM STOCK
COSTS
FOR RED FISH IN THE QUARTER
    * GROUP’S CONTRACT SHARE FOR SALMON IN Q2 2019 WILL BE IN THE RANGE FROM 35 TO 40%
    * ESTIMATED HARVEST VOLUME FOR RED FISH IN 2019, INCLUDING THE SHARE FROM ASSOCIATES,
REMAINS
AROUND 190,000 TONNES
    * GROUP HAS AND SHALL CONTINUE TO HAVE THE FINANCIAL FLEXIBILITY TO SUPPORT ITS STRATEGY OF
FURTHER ORGANIC GROWTH, CARRY OUT STRATEGIC ACQUISITIONS AND SUSTAIN CO'S DIVIDEND POLICY

Source text for Eikon:  ID:nObirZ3DGa 
Further company coverage:  AUSS.OL 

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