Loss of Peru’s anchovy season hits Austevoll’s bottom line in Q2, still rakes in record revenue

The cancelation of Peru’s anchovy fishing season earlier this year led to Austevoll Seafood posting significantly lower operational earnings in Q2 2023, but the group’s performance elsewhere helped stem the damage.

The Storebø, Norway-based fisheries, aquaculture, processing, sales, and distribution group said its operational earnings before interest and taxes (EBIT) in Q2 2023 totaled NOK 982 (USD 92.6 million, EUR 85.2 million). In the corresponding three months a year ago, Austevoll’s operational EBIT stood at NOK 1.465 billion (USD 138.1 million, EUR 127.2 million).

The group’s activities are split into six operating segments: Lerøy Seafood Group (Europe), Austral Group (Peru), FoodCorp Chile (Chile), Br. Birkeland (Norway), Br. Birkeland Farming (Norway), and the joint venture Pelagia Holding (Europe).

Delivering the group’s results for Q2 2023, Austevoll Seafood CEO Arne Møgster said it had been “quite a decent quarter” despite the drop in operational EBIT, highlighting the posting of record revenue.

The firm’s quarterly operating revenue increased 8 percent year over year to a record NOK 8.452 billion (USD 796.9 million, EUR 733.4 million), with the growth mainly coming from its ...

Photo courtesy of Austevoll Seafood