REVENUES UP FOR CROATIAN SEA BASS AND BREAM FARMER

Revenues up for Croatian sea bass and bream farmer. According to the unaudited consolidated reports for Q4 of 2023, Croatian sea bass and bream farmer, Cromaris, achieved a significant milestone, generating revenue of €105 million from the sales of goods and services, marking a remarkable 10% increase compared to the previous year, and sales volume reached 13,610 tons of fresh fish equivalent.

Maintaining their strong presence in international markets, Cromaris continues to perform well with 88% of sales volume and revenue coming from overseas markets.

Diving into our diversified product portfolio, which accounted for 36% of our revenue in 2023, processed products, including packaged and gutted fish, saw the most significant surge in growth.

Despite facing challenges such as increased prices in key procurement categories, notably fish feed, operational performance remains strong. EBITDA reached €12.6 million, showcasing a 15% increase and net profit of €3.8 million in 2023, marked an impressive 57% growth.

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Cromaris is a leading premium positioned company in production and processing of high quality Mediterranean fish and the sixth biggest company in the world in farming of sea bass and seabream, and the fastest growing company with a trend of further growth.

Cromaris was established in 2009 by merging the pioneers of Croatian and European aquaculture, so the tradition of Mediterranean fish farming lasts for more than 40 years.