Austevoll Seafood ASA Group had a higher total revenue in the fourth quarter of 2022 compared to the same period in 2021, which may indicate growth in their business. However, profits were not as positive as they could have been, specially in European companies.
Lerøy, Br. Birkeland Farming (BRBI) and Pelagia Holding AS (Pelagia) are the three companies that composed the European market of the AUSS. All of them has been faced a challenging perspective in this fourt quarter, but still positive for the futures inconveniences.
Fisheries company Br. Birkeland AS (BRBI) og Br. Birkeland Farming AS (BFARM)
AUSS has been the main owner of both companies at the end of 2022. With 55.2% of the shares of Br. Birkeland Farming AS and 42.9% of the shares of Br. Birkeland AS.
BRBI has two ring net vessels, one of which had caught most of its 2022 quotas by the end of the third quarter. The other vessel caught its remaining quotas of mackerel and Norwegian spring spawning herring in the fourth quarter. The two vessels targeting snow crab underwent extensive repairs in the second half of the year, resulting in the company losing money in Q4 of 2022.
Pelagia Holding AS (Pelagia)
The relationship between ASA Group and Pelagia Holding AS (Pelagia) is a joint venture and is accounted for by the equity method. For this reason, AUSS, half of the profits in this case.
The balance is positive in this case. The sales volume of frozen products in the quarter was 114,000 tons, compared to 109,600 tons in the same period of 2021. On the other hand, sales of fishmeal/FPC and fish oil in the quarter amounted to 89,400 tons, up significantly from 58,600 tons in the Q4 of 2021.
Lerøy Seafood Group
Lerøy Aurora’s costs in the fourth quarter were similar to those in the 3Q of 2022, but higher than those in the fourth quarter of 2021. Due to higher feed costs, cattle release costs are expected to be higher in 2023 than in 2022. Although they will not be noticeable in the Q1 2023.
In short, the groundfish industry has not yet increased its end-product prices in line with rising costs.

About Fisheries company Br. Birkeland AS (BRBI)
BRBI has two ring net vessels, one of which had caught most of its 2022 quotas by the end of the third quarter. The other vessel caught its remaining quotas of mackerel and Norwegian spring spawning herring in the fourth quarter. The two vessels targeting snow crab underwent extensive repairs in the second half of the year, resulting in the company losing money in Q4 of 2022.
About Pelagia Holding AS (Pelagia)
Pelagia AS appears to be a diversified company that operates in various segments of the seafood industry. As a leading producer of pelagic fish products for human consumption, Pelagia likely processes and packages fish such as herring, mackerel, and sardines into a variety of value-added products, including fillets, smoked fish, and canned goods.
About Lerøy Seafood Group
Leroy Seafood Group (LSG) is a global seafood corporation and has its head office in Bergen. The Group’s almost 6,000 employees process between 350,000 and 400,000 tonnes of seafood every year via its value chain, corresponding to around 5 million meals every day. The Group has a vertically integrated value chain for red fish and whitefish, as well as significant activities using third-party products.