Austevoll Seafood ASA (OSTO:AUSSO)

Q2 2026 Austevoll Seafood ASA Earnings Call Transcript

Aug 19, 2026 / 12:00 PM GMT

Release Date Price: kr83.2 (-1.89%)

Transcript

Key Points

Positve

Strong biological performance across all salmon farming regions with low mortality and good quality, leading to reduced operational costs.
Whitefish segment delivered a very good quarter with high prices for cod, haddock, and saithe, and the company expects its best year ever in this segment with an EBIT between 400-450 million NOK.
Food Corp (Chile) showed a strong performance with significantly higher prices for frozen products (up 84%), fishmeal (up 54%), and fish oil (up 167%), resulting in a higher EBIT compared to the same quarter last year.
The company maintains a strong balance sheet with a 52% equity ratio and a solid cash position of 4.6 billion NOK, supported by a strong cash flow from operating activities.
The salmon market outlook is favorable with expected negative supply growth in Norway for the rest of 2026, which should support stronger prices, and the company is optimistic about improving performance in the autumn.
Kobewiko Fuhrerholmen Optret (salmon farming in Norway) showed a significant turnaround, with EBIT per kilo improving from a negative NOK 4.3 to a positive NOK 7.8 year-on-year.

Negative

The first fishing season in Peru was suspended due to El Nino and high juvenile incidence, leading to a 200,000-ton reduction in catch and a negative EBITDA of 61 million NOK for the Austral segment.
Total pelagic volumes were down 51% in the quarter, with the company catching only 26,000 tons of its 133,000-ton quota in Peru, significantly impacting financial performance.
Salmon farming EBIT decreased by 20 million NOK due to lower slaughtering volumes, and the market operation faced more challenging conditions with a stronger NOK and higher logistical costs.
The company experienced a negative biological fair value adjustment of 889 million NOK, which substantially impacted profit before tax, leading to a net loss of 254 million NOK for the quarter.
Price realization for salmon was negatively impacted by trout downgrades, particularly in the west coast of Norway, with trout prices being NOK 5 per kilogram lower than salmon prices.
The North Atlantic pelagic quotas have continued to decline, with volumes dropping by 600,000 tons in 2026, adding to the uncertainty and reduced raw material availability for Pelagia.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AUSS.OL - Austevoll Seafood ASA
Q2 2026 Austevoll Seafood ASA Earnings Call
Aug 19, 2026 / 12:00PM GMT

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Presentation
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Unidentified_1 [1]
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Dan, it's a pleasure for me to invite you to Oosterwald Seafood's 2Q presentation.

I will first start by taking you through the highlights of our operations in the quarter. I will go more into the details segment by segment. Then I will give the floor to our CFO, Brit-Katrine Drivenes. And then I will end this session by giving our view on the different segments we are operating in terms of the market.

So starting up, I would say it's been a special quarter for us in terms of.

Salmon, we have performed well in, I would say, two out of the three regions we are operating in.

I would say all in all, we have had a good biological performance across all the three regions, quite good slaughtering

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