Q3 2025 Austevoll Seafood ASA Earnings Call (Norwegian) Transcript
Key Points
- Austevoll Seafood ASA (FRA:Z85) reported a strong balance sheet with an equity ratio of 53% and a net interest-bearing debt of NOK8.5 billion.
- The company experienced a record high quarter in VAP sales and distribution, with EBIT almost doubling from the same quarter last year.
- Despite challenges, the wild catch segment delivered better financial results due to increased prices for cod, haddock, and saithe.
- The company maintained its guidance on salmon volumes, with an increase from 170,000 tonnes in 2024 to 195,000 tonnes in 2025.
- Austevoll Seafood ASA (FRA:Z85) ended the quarter with a positive cash position of close to NOK4.7 billion.
- The company faced a weaker quarter in all segments due to biological challenges, high sea temperatures, and higher sea lice pressure.
- There was a significant reduction in margins for fishmeal and fish oil segments, particularly due to lower fish oil prices.
- The pelagic segment experienced pressure on margins, impacting results in both South America and the North Atlantic.
- Salmon spot prices were much lower in the quarter, negatively affecting the Farming segment's EBIT.
- The North Atlantic faced a reduction in raw material availability, with significant cuts in mackerel, blue whiting, and North Sea herring quotas.
That is a pleasure for me to invite you to Austevoll Seafood third quarter financial presentation. I will first take you through the highlights of the quarter. Thereafter, I will go in more details of our performance in the quarter in the different segments we are operating in, and also give some insights in the quarter to come as well. Britt Kathrine Drivenes will take you more in detail through the financial figures. And I will end this session by giving our view on the different markets we are operating in.
So starting up, I would say, third quarter, I think it's three main topic, which I want to raise in terms of our performance in third quarter. In general, I would say we are delivering a weaker quarter in all segments. And it's mainly -- the main driver behind that is, I would say, we have had some biological challenges in Leroy as a consequences of high sea temperatures, and also a higher sea lice pressure, also combined with much lower salmon spot prices in the quarter.
And also when it comes to our pelagic
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