Solide results for Austevoll Seafood

Austevoll Seafood ASA reported operating income of NOK 3,329 million for the quarter (Q3 2009 NOK 2,740 million). EBITDA before value adjustment for biomass in Q3 was NOK 706 million (Q3 2009 NOK 459 million). Sales prices achieved for fishmeal and oil, Atlantic salmon and trout in Q3 2010 have been considerably higher than the same quarter in 2009. The Group also achieved good prices for its other products, but these were more in line with the prices achieved for Q3 2009. EBIT before value adjustment for biomass in Q3 was NOK 572 million (Q3 2009 NOK 345 million). EBIT after value adjustment for biomass in Q3 was NOK 542 million (Q3 2009 NOK 202 million).

Income from affiliated companies for Q3 totalled NOK 39 million (NOK -5 million for Q3 2009). With effect from the end of July, Norway Pelagic ASA is an affiliated company, and the result from affiliated companies reflects AUSS's share of the net result achieved by Norway Pelagic ASA in August and September. Norway Pelagic ASA is one of the world leading producers of pelagic products for consumption. In 2009, the company purchased approx. 480,000 tons of pelagic fish, mainly NVG herring, mackerel and capelin. The company has 10 production facilities situated along the Norwegian coast, from Sommarøy in the north to Karmøy in the south.

Besides Norway Pelagic ASA, the largest affiliates are Brødrene Birkeland AS and Norskott Havbruk AS (owner of the Scottish fish farming company Scottish Sea Farms Ltd.). The Group's net interest costs in Q3 2010 totalled NOK 47 million (Q3 2009 NOK 51 million). The result before tax for the quarter totalled NOK 533 million (Q3 2009 NOK 154 million). The result before tax with adjustment in value for biomass for the quarter totalled NOK 563 million (Q3 2009 NOK 297 million).