Nueva Pescanova Group doubles its EBITDA and reaches €1,087M

Nueva Pescanova Group doubles its EBITDA and reaches €1,087M

Nueva Pescanova Group sales have reached EU 1,087 million in his last financial year, up 21,4% compared to prepandemic times. In addition, it has doubled its EBITDA, which has reached EU 80M against the EU 39,5M seen before.

The Group has obtained a positive net result of €7M, improving by €31M compared to the previous year. Among others, the increases in sales in the categories of Vannamei shrimp and cephalopods stand out. Besides, the sales have improved in all its destinations. Especially highlighting the results in countries such as Portugal, France, Greece, and the USA.

Nueva Pescanova Group Board of Directors will submit for approval by its ordinary shareholders' meeting the company's annual accounts for the last 12-month financial year, which ended March 31, 2022.

Finally, the company has explained in a press release that its profitability has improved substantially. In more detail, 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.

Investments and new projects

Nueva Pescanova has managed to install 100% of the cultivation surface with automatic feeding and sensorization (6,500 ha) in the vannamei shrimp facilities in Nicaragua and Ecuador. This has been possible thanks to alliances with Microsoft, IBM, Repsol, and Nokia, which are based on the incorporation of Artificial Intelligence and Big Data into cultivation processes.

In addition, the Pescanova Biomarine Center was inaugurated in November 2021. It is the largest Aquaculture R&D center in Europe. Here, researchers study 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.

Moreover, it reached an agreement with MAAVi, Kimitec's new R&D facilities, to continue obtaining organic and healthy products. The company confirmed this will improve the quality of species and their habitat in aquaculture.

Furthermore, the Group has developed a total of 57 innovative products worldwide in different categories. Precisely, the launch of the new product La Pasta del Mar. It has received numerous awards, such as the Global Seafood Marketplace, the Carrefour Innovation Award, and the Product of the Year.

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