Q4 2024 Austevoll Seafood ASA Earnings Call Transcript
Key Points
- Austevoll Seafood ASA (ASTVF) reported a strong revenue of NOK9 billion for the quarter, with an EBITDA of NOK1.4 billion.
- The company's Peruvian operations performed exceptionally well, contributing significantly to the improved financial results.
- Lerøy's biological development showed positive trends, with reduced mortality and increased net growth.
- The company maintained a strong balance sheet with a total asset of NOK55.6 billion and an equity ratio of 53%.
- Austevoll Seafood ASA (ASTVF) plans to increase its dividend payout to NOK6.5 per share, up from NOK4.5 per share in 2024.
- The North Atlantic pelagic quota is lower in 2025 compared to 2024, impacting potential earnings.
- Pelagia's earnings were down due to higher pressure on margins for fishmeal and fish oil.
- The whitefish segment faced challenges due to quota reductions, making it difficult to maintain margins.
- The company experienced a decrease in EBIT per kilo for salmon, impacted by lower spot prices.
- Net interest-bearing debt increased to NOK8 billion, up from NOK6.7 billion in 2023.
It's a pleasure for me to welcome you to Austevoll's Seafood fourth quarter presentation. I will start this presentation by giving you the highlights of the quarter and also some comments to the annual result. Thereafter I will take you through segment for segment, looking at our performance in the quarter.
Britt Kathrine Drivenes, she will take us more in details through the numbers in the quarter, and I will end this session by giving a view on the different market in the different segments we are operating within. So, starting up, It's fair to say that we have had a quite active quarter in particular in South America.
It's pleasant for us to see that our Peruvian activity is back on track and have done a good performance during the second season there. Also been active in Chile for human consumption activity in the North Atlantic, this is the main quarters also high activity there, and it's also pleasant to see that we are continuing the positive biological development in in Lerøy.
So all in all,
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