STRONG FOURTH QUARTER FOR CROMARIS

Strong fourth quarter for Cromaris. According to unaudited consolidated reports for the fourth quarter of 2022, Croatian bass and bream farmer Cromaris achieved sales of 13,444 tonnes of whole fish equivalent, up by 8% compared to the previous year.

Export volumes were up by 10%, primarily due to strong growth in the Italian and Spanish markets. Export markets continue to account for a high proportion of our sales – 88% of both sales volume and sales revenue. In the differentiated products portfolio, which accounted for 34% of the company’s revenue in 2022, the biggest #growth is recorded by fresh fillets and the new farmed fish species – common dentex.

Cromaris’ sales revenue amounted to HRK 721m and was up by 18%, while earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to HRK 83m and were up by 24%. Net profit amounted to HRK 18m and was 39% higher compared to the previous year.

About Cromaris

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.

The company’s headquarters and the processing facility are located in Zadar. Of the total of 6 farms, one is located in Istria (Budava) and 5 in the Zadar region, Central Adriatic (Lamjana Košara, Velo Žalo, Žman and Kudica).

Source