The Group reported operating revenue of NOK 4,412
million in the quarter, compared with NOK 3,546
million in Q1 2015.
There has been an increase in revenue in both Atlantic
salmon/trout and in the pelagic segment compared with
the same period in 2015.
EBITDA in Q1 was NOK 886 million, up from NOK 517
million in the same quarter of 2015. The increase in
EBITDA came within both operating segments: Atlantic
salmon/trout and the pelagic segment.
EBIT before value adjustment of biomass in Q1 2016 was
NOK 696 million (Q1 2015: NOK 349 million). EBIT
after value adjustment of biomass in Q1 2016 was NOK
860 million (Q1 2015: NOK -20 million). The IFRS
biomass adjustment for the quarter was positive at NOK
164 million (Q1 2015: NOK -368 million).
Income from associates for Q1 2016 totalled NOK 96
million (Q1 2015: NOK 56 million). The largest
associates are Norskott Havbruk AS (owner of the
Scottish fish-farming company Scottish Sea Farms Ltd.)
and Pelagia AS.
The Group's net interest expense in Q1 2016 totalled
NOK 60 million (Q1 2015: NOK 52 million).
Profit before tax and IFRS biomass adjustment for Q1
2016 amounted to NOK 724 million, compared with NOK
314 million in Q1 2015.
Profit before tax for the quarter totalled NOK 908
million (Q1 2015: NOK -54 million). Profit after tax
was NOK 693 million (Q1 2015: NOK -26 million).
The Group is financially sound with an equity ratio of
56 %.
The Group had net interest-bearing debt totalling NOK
3,253 million at the end of Q1 2016, compared with NOK
3,967 million at the end of the same quarter last
year.
Net interest-bearing debt at the end of March 2016 was
affected by the parent company, AUSS, having sold
2,750,000 shares in Lerøy Seafood Group ASA in March.
The shares were sold for a price of NOK 355.00 per
share, in total NOK 976 million. In a stock exchange
announcement of 18 March 2016, the Board of Directors
proposed that the net proceeds from the sale of the
shares be distributed as dividends, with the proposed
dividend per share for 2015 being NOK 7.00.
For further information please see attached report and
presentation.
Questions and comments may be addressed to the
company's CEO, Arne Møgster, or to the CFO, Britt
Kathrine Drivenes.
This information is subject of the disclosure
requirements acc. to §5-12 vphl (Norwegian Securities
Trading Act).