Norwegian giant Austevoll Group posted another loss, with earnings down 20 percent in the first quarter of this year.

Earnings before interest, taxes, depreciation and amortization (EBITDA) totaled NOK 1.15 billion (€117.1 million/$131.6 million), driven by lower sales volumes of Atlantic salmon compared to the same quarter last year.

However, the group reported better price developments for Atlantic salmon during the quarter as well as better pelagic and whitefish activity in the North Atlantic.

The group’s operating revenues also fell slightly, by 3 percent to NOK 5.56 billion (€566.1 million/$636.2 million).

Fishing season in Chile up, sales volumes rise in Peru

The fishing season in Chile, where Austevoll catches mackerel and other pelagic species through its subsidiary Foodcorp Chile kick-started with good catch rates but lower sales volumes for finished products compared to the first quarter of last year.

In Peru, where the group catches anchovy, mainly for fishmeal and fish oil, and mackerel through its subsidiary Austral Group, the group reported but higher sales volumes for finished products compared to the previous year.

Austevoll's overall EBIT after fair value adjustment related to biological assets in the first quarter halved to almost NOK 663 million (€67.5 million/$75.9 million).

Income from Austevoll’s associates, the largest being Norskott Havbruk and Pelagia, amounted to NOK 131 million (€13.3 million/$15 million) in the first quarter of 2019, down from NOK 162 million (€16.5 million/$18.5 million) of the year prior.

Aquaculture

Austevoll Q1 earnings sink as volumes fall