Austevoll Seafood (AUSS.OL) — 2026-W107

Analysis date: 2026-05-31 | Country: NO | Currency: NOK

Recommendation Summary

Field	Value
Rating	Sell
Intrinsic Value	80.0 NOK
24m Target	85.0 NOK
Price at Analysis	93.0 NOK
Buffett Score	8/20
ROIC	6.4%
Economic Profit	-586.6M NOK
Implied Upside (IV)	-14.0%

VALUE DESTROYER: EP negative (-586.6M NOK). ROIC 6.4% < WACC 8%.

Research history · this company (3 notes)

2026-W107 · 2026-05-31 · AUSS.OLviewingSell · ROIC 6% · tgt 85 NOKΔ tgt -11% · IV -16% · HOLD→Sell · MEDIUM→low convAustevoll Seafood: Kapitalförstörande, ROIC under WACC

2026-06-15 · 2026-06-15 · AUSS.OLHOLD · tgt 95 NOK 2026-06-08 · 2026-06-08 · AUSS.OLHOLD · tgt 95 NOKfirst note

0. Company Identification

Ticker: AUSS.OL | Name: Austevoll Seafood | Country: NO | Sector: Industrial/Commercial

1. What the Company Sells

Austevoll Seafood operates in the Nordic market. ROIC 6.4% vs WACC 8% → EP -586.6M NOK.

2. Who Pays and Why They Stay

Customers pay for products/services based on value proposition and brand strength.

3. Revenue Model

Revenue generated through product/service sales. Scalability and recurring revenue characteristics vary by segment.

4. Margin and Cash Mechanics

ROIC 6.4% vs WACC 8.0% → Economic Profit -586.6M NOK.

5. Supply-side Dependencies

Raw materials, suppliers, distribution channels, and human capital.

6. Competitive Position

Moat strength: 1/5. Brand strength, technology, and customer relationships drive competitive advantage.

7. Growth Engine

Market penetration, geographic expansion, and product development.

8. Business Model Risks

Top risks: Cyclical demand, competitive pressure, raw material costs, macro exposure.

9. History, Management & ESG

Established Nordic industrial company with stable management.

10. Synthesis and Recommendation

Sell — Austevoll Seafood: Negative EP, capital destructive at current returns.

mttssn research · Austevoll Seafood (AUSS.OL) · 2026-W107 · 2026-05-31