Austevoll racked up a 10 per cent increase over its earnings reported in Q1 2009. (Photo: FoodCorp/ FIS)
Austevoll unrattled by earthquake
Friday, May 14, 2010, 03:00 (GMT + 9)
The income of the Norwegian firm Austevoll Seafood ASA, which operates in Chile through FoodCorp, tallied NOK 2,746 million (USD 445.5 million) in Q1 2010. This result represents an increase of 10 per cent with respect to the same period of the previous year, when it reported NOK 2,483 million (USD 402.8 million).
The operations in Chile reported good results for the company in spite of the effects of the earthquake and tsunami that hit 27 February.
According to Astevoll’s report, its operating result before depreciation and value adjustment of biomass (EBITDA) reached NOK 431 million (USD 69.9 million), 28 per cent more than in the first four months of 2009, when it totalled NOK 337 million (USD 54.6 million).
|Steam dried fish meal. (Photo: Food Corp)
The company emphasised that between January and April 2010 it obtained good prices for the following products: canned and frozen seafood, fishmeal and fish oil, Atlantic salmon and trout.
In addition, the production of fishmeal and fish oil was good, as was the pelagic consumption segment in Europe, it reported, as it usually does in Q1.
However, catches for human consumption were lower in Chile and Peru, with respect to those of the three first months of 2009, and this translated into a smaller volume of sales this year.
“We are grateful and relieved that none of our employees lost their lives in the earthquake, and our main priority in the weeks following the earthquake has been the wellbeing of our employees, as well as assessing the extent of material damage,” said the firm when announcing the Q1 results.
Although the company fleet was not affected by the earthquake, some of their land-based facilities sustained damages that delayed production three weeks. The frozen foods plant was the one that sustained the most damage and only recently became operational in early May.
Finally, the company reported that production of fishmeal, fish oil and canned products started up before.
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