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SAPMER vessel Piriou. (Photo Credit: SAPMER)

Sapmer's lower revenues show a difficult Japanese market

  (RÉUNION, 3/14/2014)

SAPMER’s yearly consolidated results for the year 2013 reveal revenues amounting to EUR 91.6 million, below EUR 93.1 million reached in 2012 but the firm states its financial structure is improving.

The firm's CEO, Yannick Lauri, highlighted that last year Sapmer faced a difficult Japanese market, with lower prices due to the yen devaluation to which an unfavourable exchange rate and the growth delay of value improvement were added, a 'situation that has now been solved.' 

The firm’s report state the fishing activity represented last year 80.7 per cent of the total revenues, a 1 per cent increase compared to 2012. It has been shown that excluding exchange rate fluctuations, it increased by 4.5 per cent.

The company’s EBITDA was informed to amount to EUR 17.6 million in 2013 compared to EUR 24.2 million in 2012 whereas the operating income (EBIT) reached EUR 10.9 million last year (EUR 17.6 million in 2012), a result that according to the firm reflects the impact of steady whole and value enhanced tuna sales (EUR 44 million) while operating costs increased.

The firm also informed that the value enhancing activity reached EUR 17.7 million (EUR 17.9 million at constant exchange rate) against EUR 19.9 million for 2012, primarily due to higher sales of whole tuna during the first half.

Up to 31 December, 2013, shareholders’ equity totalled EUR 50.3 million against EUR 45.9 million in 2012. The net financial debt reached EUR 83.9 million against EUR 91.2 million in 2012.

The board of directors remarked they will offer the payment of a dividend of EUR 0.20 per share during the Annual General Meeting on 29 April, 2014.

It is important to stress that the firm expressed its hope to maintain a good momentum of development with fishing campaigns that are currently doing very well in 2014. The Group is also continuing its expansion into new markets, with important work being done in regards to diversifying its value enhanced tuna sales in Europe, North America and South Africa.
 Related article:

- A weak yen impacted on Sapmer results

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Information of the company:
Address: Darse de Peche 4 rue Charles Dickens
City: Le Port
State/ZIP: (97420)
Country: Réunion
Phone: +262 2 62 42 02 73
Fax: +262 2 62 42 03 85
E-Mail: [email protected]
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