Austevoll Seafood Adjusted EPS Rebounds to NOK 1.40 in Q3

Austevoll Seafood ASA’s adjusted earnings per share rose to NOK 1.40 in the third quarter from a loss of NOK 0.50 a year earlier, alongside higher adjusted EBITDA and EBIT.

Operating revenue, other income, gains and losses totaled NOK 9.23 billion, down from NOK 10.04 billion in the year-earlier quarter. Including Austevoll’s 50% share of Pelagia Group, the total was NOK 10.91 billion.

Adjusted EBITDA increased to NOK 1.131 billion from NOK 651 million. Adjusted EBIT rose to NOK 546 million from NOK 78 million.

The adjusted EPS measure excludes fair-value adjustments related to biological assets. Lower operating costs and improved price realization in the farming segment primarily drove the earnings improvement.