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Austevoll Seafood Q4 profit climbs YOY

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Austevoll Seafood Q4 profit climbs YOY

Austevoll Seafood ASA said its normalized net income for the fourth quarter was 2.40 Norwegian kroner per share, compared with the S&P Capital IQ consensus estimate of 2.38 kroner per share.

EPS climbed year over year from 1.06 kroner.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 483.5 million kroner, an increase from 212.6 million kroner in the year-earlier period.

The normalized profit margin increased to 9.1% from 5.6% in the year-earlier period.

Total revenue grew 40.4% year over year to 5.33 billion kroner from 3.80 billion kroner, and total operating expenses declined on an annual basis to 2.64 billion kroner from 2.77 billion kroner.

Reported net income increased from the prior-year period to 892.2 million kroner, or 4.42 kroner per share, from 383.5 million kroner, or 1.91 kroner per share.

For the year, the company's normalized net income totaled 4.67 kroner per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6.28 kroner.

EPS rose from 2.33 kroner in the prior year.

Normalized net income was 940.1 million kroner, an increase from 467.8 million kroner in the prior year.

Full-year total revenue grew 24.1% from the prior-year period to 18.91 billion kroner from 15.24 billion kroner, and total operating expenses grew 5.9% year over year to 14.33 billion kroner from 13.53 billion kroner.

The company said reported net income grew year over year to 1.65 billion kroner, or 8.17 kroner per share, in the full year, from 722.0 million kroner, or 3.59 kroner per share.

As of April 28, US$1 was equivalent to 8.57 Norwegian kroner.