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EBITDA stood at EUR 75 million, 6 per cent lower than the figure for the previous year.

Nueva Pescanova earns EUR 5.4 million in 2018

  (SPAIN, 3/28/2019)

The company Nueva Pescanova finished 2018 with a net profit of EUR 5.4 million, its second consecutive year in positive after the creditors’ meeting phase which the group entered in 2013.

Corporate video of Nueva Pescanova

The company multiplied its profits by 18 compared to 2017 and its billing in comparable terms - after divestments made during the year in the fishmeal, feed and maritime services business in Africa - improved by 1 per cent, to EUR 1,008 million.

EBITDA also stood at EUR 75 million, 6 per cent lower than the figure for the previous year, boosted by "good results" in the fishing, commercial and aquaculture divisions of turbot but affected by the fall in the shrimp business, mainly in the operation of Nicaragua.

Nueva Pescanova’s managers pointed out that the disinvestment process planned for the 2016-2020 period has ended and that the company is focused on seafood, a segment in which its volume sales grew by 5 per cent to 177,000 tonnes.

In addition, the company invested EUR 41 million in 2018, part of which was directed to expand its participation (from 15 to 45 per cent) in the shrimp processing company Abad Overseas.

It has also created a new firm (called Katei Alimentación) with the Kabuki company to make Japanese food for different supermarket and restaurant chains in Spain, a project that includes the start-up of three factories in the Canary Islands, Andalusia and Castilla y León and that will generate "around 300 jobs", according to its estimations.

Likewise, Nueva Pescanova addressed the purchase of the Unickfish commercial company in South Africa and began the construction of the new vessels that will renew part of the Group's fleet: three for the hake fishery in Namibia and four for the shrimp in Mozambique.

Another initiative that started in 2018 was the construction of an R+D+i centre specializing in aquaculture in O Grove (Pontevedra), as the company highlighted in its results report.

The Galician group employs more than 11,000 people and markets its products in more than 80 countries, according to its data.

Source: EFE

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Information of the company:
Address: Calle José Fernández López, s/n
City: Chapela - Redondela
State/ZIP: Pontevedra, Galicia (36320)
Country: Spain
Phone: +34 986 818 100
Fax: +34 986 818 220
E-Mail: [email protected]
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