Solid profit margins for Austevoll Seafood

In Q2 2010, the sales prices achieved for fishmeal and fish oil, Atlantic salmon and trout were significantly higher than prices achieved in the same quarter in 2009. Good prices were also achieved for the Group's other products, and they were in line with prices achieved for the same period in 2009.

EBIT before fair value adjustment of biomass in Q2 2010 was NOK 529 million (Q2 2009 NOK 455 million). EBIT after fair value adjustment of biomass in Q2 2010 was NOK 461 million (Q2 2009 NOK 619 million). Income from associated companies for Q2 was NOK 34 million (Q2 2009 NOK 29 million). The largest associated companies are Br. Birkeland AS, Norskott Havbruk AS (owner of the Scottish fish farming company Scottish Sea Farms Ltd.), and Shetland Catch Ltd.

The Group's net interest costs in Q2 2010 totalled NOK 56 million (Q2 2009 NOK 77 million). The decline in net interest costs compared with Q2 2009 reflects the significant reduction in the Group's net interest-bearing liabilities. The result before tax for the quarter totalled NOK 427 million (Q2 2009 NOK 592 million). The result before tax corrected for fair value adjustment of biomass in Q2 2010 was NOK 495 million (Q2 2009 NOK 428 million).