STRONG PERFORMANCE BY CROMARIS IN FIRST HALF OF 2022

Strong performance by Cromaris in first half of 2022. In the first six months of 2022, Mediterranean fish farmer Cromaris sold 6,971 tons of fresh fish equivalent, which is an increase of 26%, compared to the first six months of the previous year. A 29% increase in quantity growth was achieved in export markets, mostly due to strong growth in Italian and Spanish markets. Cromaris’ share in earnings from selling on international markets has remained high – 89% of quantity sales and the same amount of sales revenue.

From the products in the differentiated product portfolio, which accounted for 34% of revenue in the first quarter, the most significant growth is generated from meagre, as well as the newly farmed fish species of amberjack and dentex. Besides the quantity growth, an increase in prices was also seen as a result of the sizeable increase in costs, 5% on average. Sales revenue is HRK 360 million, which is a growth of 32%. The achieved earnings before interest, tax and amortisation (EBITDA) amount to HRK 44 million, i.e. a 31% increase. Cromaris realised the net profit of HRK 10.8 million in the first half of 2022.

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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.

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