NUEVA PESCANOVA GROUP DOUBLES ITS EBITDA

Nueva Pescanova Group doubles its EBITDA. The Board of Directors of the Nueva Pescanova Group, the leading Spanish multinational in the capture, cultivation, processing and marketing of seafood, will shortly submit the approval of its ordinary meeting of partners the annual accounts of the company corresponding to the last fiscal year of 12 months, ended on March 31, 2022.

The Group’s turnover has been a total of €1,087M, growing by 21.4% compared to the same period of the previous year and by 4.4% compared to the pre-COVID year of 2019. Among others, the sales increases in the Vannamei shrimp and cephalopod categories.

Analysing by channel, Nueva Pescanova exceeds pre-pandemic levels in both Retail and Wholesale and Organised Food Service. In addition, it improves sales in all its destinations, especially highlighting the results in countries such as Portugal, France, Greece and the USA.

On the other hand, the Nueva Pescanova Group has doubled its EBITDA, reaching €80M compared to €39.5M in the previous year. The profitability of the Nueva Pescanova Group has improved substantially, with an EBITDA/Sales ratio of 7.4% compared to 4.4%, thanks mainly to better efficiency in aquaculture and fishing operations, the Group’s global cost control and the improvement of commercial margins. The positive net result of the Group was €7M, improving by €31M compared to the previous year.

Among the notable milestones in the Group during the year, in May 2021 it registered a promissory note issuance program in the Alternative Fixed Income Market (MARF) for a maximum amount of €50M.

Among others, the investments in Aquaculture 4.0 in the vannamei shrimp facilities in Nicaragua and Ecuador stand out, where 100% of the cultivation surface has already been installed with automatic feeding and sensorisation (6,500 ha), thanks to the alliances of the company with companies such as Microsoft, IBM, Repsol or Nokia, which are based on the incorporation of Artificial Intelligence and Big Data into cultivation processes.

In November 2021, the Pescanova Biomarine Centre was inaugurated, the largest Aquaculture R&D centre in Europe where the improvement of farmed species in the field of nutrition, management, health and genetics is studied, as well as the development of new species in aquaculture, such as the octopus.

In the last financial year, the Nueva Pescanova Group developed a total of 57 innovative products worldwide in the different categories (natural fish, cephalopods, shellfish, surimi and preparations). In this sense, the launch of a new product ‘La Pasta del Mar’ stands out, an innovation for which it has received numerous awards, such as the Global Seafood Marketplace, the Carrefour Innovation Award and the Product of the Year, among others.

On the other hand, in its commitment to the sustainability of the planet in accordance with the SDGs of the 2030 Agenda, it was once again recognised as the first fishing company in the world that contributes the most to the achievement of a sustainable industry, according to the Seafood Stewardship Index ranking. 2021 of the World Benchmarking Alliance. And it is that the multinational carried out in this year a total of 1,296 responsible actions in the 19 countries where it operates.

Source