Nueva Pescanova's headquarters in Chapela-Redondela, Galicia, Spain.
Photo: Nueva Pescanova.
Nueva Pescanova Group has reported a return to profitability in 2025, ending a run of losses experienced by the Spanish seafood group in recent years.
The company said it recorded a net profit of €1.1 million for the year, compared with a loss of €37.9 million in the previous financial period, which covered nine months. On a comparable twelve-month basis, losses in 2024 had reached €91 million.
Meanwhile, Nueva Pescanova saw its revenues rise to €1.05 billion in 2025, up 7.3% from €982 million in previous year, according to the company. The increase was sharper when set against the shorter nine-month reporting period in 2024. EBIDTA reached €71.2 million, an increase of 56.5% year-on-year.
The company attributed the improvement to stronger sales and measures introduced over the past two years to reduce costs and improve efficiency, including changes to its commercial approach, with a focus on higher-value products, as well as efforts to raise productivity in aquaculture, streamline processes and restructure parts of the organisation.
The new approach followed a complex era for the company which saw a change in leadership and staff layoffs after plans to sell the business to Cooke fell through in September 2023.
Nueva Pescanova stated that the results obtained in 2025 exceeded the targets set out in its recovery plan, marking the end of its restructuring phase. It said it now plans to move into a new stage of investment and development in 2026, supported by changes to its financial structure that are currently under way.
The group’s audited accounts for 2025 are due to be presented to shareholders for approval at a future general meeting.
Alongside its financial results, the company highlighted progress in brand recognition and sustainability, securing a ranking among the top 10 brands in Kantar’s Brand Footprint Spain 2025, and remaining a regular choice for consumers despite what it described as a more price-sensitive market.
Regarding sustainability, Nueva Pescanova noted it had been recognised in the Ocean Benchmark produced by the World Benchmarking Alliance, which assesses companies’ contributions to ocean and coastal ecosystem management. It also reported further work on identifying key sustainability priorities through a double materiality analysis.
The company added that it has developed new products in categories such as fish, seafood and prepared foods, and has taken part in several research and innovation projects.
Nueva Pescanova employs around 9,000 people, operates in 16 countries and sells its products in more than 80 markets worldwide.