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Austevoll Seafood (AUSS) investor relations material
Austevoll Seafood Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 operating revenue was NOK 10,037 million, up 8% year-over-year, with YTD revenue at NOK 29,910 million.
Adjusted EBITDA for Q3 2025 fell 45% to NOK 652 million, and adjusted EBIT dropped to NOK 79 million from NOK 686 million in Q3 2024.
Net profit after tax was NOK 529 million, up from NOK 168 million in Q3 2024, mainly due to a positive fair value adjustment of biological assets.
The group maintains a strong balance sheet with total assets of NOK 51,969 million, equity ratio of 53%, and net interest-bearing debt of NOK 8,432 million.
VAPS & D segment achieved record sales and EBIT, nearly doubling year-over-year.
Financial highlights
Q3 2025 adjusted EBITDA margin was 6%, down from 13% in Q3 2024.
YTD 2025 adjusted EBIT including income from associates was NOK 2,255 million, down from NOK 4,720 million YTD 2024.
Cash flow from operating activities in Q3 2025 was NOK 1,554 million, with cash and cash equivalents at NOK 4,690 million at quarter-end.
Net interest-bearing debt increased to NOK 8,432 million at quarter-end.
Net profit for the quarter was NOK 529 million, up from NOK 168 million year-over-year, mainly due to fair value adjustment of biological assets.
Outlook and guidance
Guidance for salmon volumes maintained at 195,000 tons for 2025, up from 170,000 tons in 2024; 2026 guidance remains stable in Norway, with a slight increase in Scottish Seafarms.
Expecting lower costs in 2026 compared to 2025 for salmon operations, with potential for better price development.
Anticipating challenging raw material availability in the North Atlantic for 2026 due to quota reductions on key species, including blue whiting (-41%) and mackerel (-70%).
South American quotas for fish meal and oil remain uncertain, with final decisions pending; SPRFMO recommends a 5.7–15% increase in horse mackerel quota for Chile in 2026.
The board anticipates higher profitability in 2026 as market balance improves.
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