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2016-02-22

Havfisk: HAVFISK :Results for the fourth quarter in 2015

(Ålesund, 22 February 2016) HAVFISK achieved operating revenues of NOK 361
million in the fourth quarter 2015, which is NOK 47 million higher than the
same period in 2014. EBITDA came to NOK 142 million in the fourth quarter
2015. The total operating revenues in 2015 came to NOK 1 131 million and
EBITDA was NOK 403 million. Profit before tax in 2015 came to NOK 228
million.

The results reflect increased prices, increased volume and more operating days
in the quarter, simultaneously with weaker fishery than normal in a fourth
quarter. The catch rates (catch volume per operating day) decreased with 2
percent compared with the same period in 2014. Income per operating day was 4
percent higher in the fourth quarter 2015 compared with the corresponding
period in 2014. EBITDA per kilo increased from NOK 6.94/kilo in the fourth
quarter 2014 to NOK 8.46/kilo in fourth quarter 2015. The increase is a
results of increased prices and lower operating costs.

-HAVFISK has had good operations and favourable conditions throughout 2015.
Both in the fourth quarter and for the full year the operating result are the
highest in the company`s history,
says CEO Webjørn Barstad.

Operating revenues for HAVFISK came to NOK 361 million in the fourth quarter
2015, against NOK 314 million in the corresponding period in 2014. EBITDA
came to NOK 142 million against NOK 98 million in the fourth quarter 2014.
EBIT in the fourth quarter 2015 came to NOK 111 million against NOK 63
million in the same period in 2014. The profit before tax was NOK 99 million
for the quarter, compared with NOK 220 million in the fourth quarter of 2014.
The result in the fourth quarter 2014 included reversal of provisions
related to the Glitnir-case.

In 2015 HAVFISK`s operating revenues totalled NOK 1 131 million, up from NOK 1
049 million in 2014. EBITDA came to NOK 403 million compared to NOK 299
million in 2014. The increase is explained by higher prices and increased
utilisation of the company`s fishing rights. Earnings before tax were NOK 228
million.

The Board proposes to pay a dividend of NOK 1.50 per share for the year 2015.

-A solid cash flow gives us the opportunity both to invest in the fleet and
pay
dividends to our shareholders
, says Barstad.

HAVFISK's available liquidity, including drawing rights, totalled NOK 320
million at the end of the fourth quarter of 2015, compared with NOK 146
million at the end of the third quarter of 2015.

Net interest-bearing debt was NOK 766 million at the end of the fourth quarter
2015. This is NOK 193 million lower than the end of the last quarter.

HAVFISK had a total equity of NOK 986 million by the end of the fourth quarter
2015, corresponding 38 per cent.

On 21 February 2016, HAVFISK entered into an agreement with Vard to build a
new vessel. The contract value is approximately NOK 325 million. The new
vessel will be a combination trawler (fresh and frozen). The vessel will have
good catch capacity for both white fish and shrimp, and all residual raw
material will be made use of.

-HAVFISK has in recent years renewed and upgraded the fleet, and contiues the
process with this newbuild. The vessel will be an attractive and modern
workplace for our employees,
says Barstad.

For further information, please contact:

Webjørn Barstad, CEO +47 70 11 86 00

Eldar Farstad, CFO +47 70 11 86 00

HAVFISK ASA is a fishing company that operates 10 trawlers and has 29.6 quotas
for cod trawling. HAVFISK ASA`s operating revenue in 2015 was NOK 1
131million and the company has 381 employees. For further information please
visit www.havfisk.no

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

HFISK Interim report Q4 2015
http://hugin.info/138690/R/1987919/729798.pdf
HFISK Presentation Q4 2015
http://hugin.info/138690/R/1987919/729799.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Havfisk via Globenewswire

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