Nueva Pescanova's headquarters in Chapela-Redondela, Galicia, Spain.
Photo: Nueva Pescanova.
Nueva Pescanova Group presented yesterday the results of H1 2025, which confirm that the Spanish multinational is consolidating its recovery. "The company continues to meet its targets and advance in its recovery, maintaining its strategy to strengthen its financial position and consolidate improvements in the coming months," the official release said.
Within the positive trend initiated last year, when it quadrupled its EBITDA in just nine months, from January to June of this year, Nueva Pescanova's EBITDA grew by 73% to EUR 27 million, compared to the EUR 15.6 million obtained in the same half of the previous year.
At the same time, the Galicia-headquartered company's losses were reduced by 65% during these first six months of the year, and the trend in sales also continued upwards with an increase of 7.9% during the period to EUR 490.9 million.
According to the Spanish seafood company, this improvement in results is mainly due to operational efficiency measures aimed at increasing the profitability of all activities and cost containment, as well as to the renewal of the commercial strategy to prioritize higher-value operations.
These are measures that Nueva Pescanova Group undertook almost two years ago when, at a complicated time for the company after the resignation of the former CEO, Ignacio González, and the failure to reach an agreement to sell it to Cooke, in September 2023, its since then Chief Executive Officer, Jorge Escudero, arrived.
His appointment was made public on the first day of the month and, only a week later, the Spanish multinational specialized in fishing, farming, processing and marketing of seafood products, already announced the first measure of the new management team, the layoff of over 100 workers from its central services in Chapela - its headquarters in Galicia - and Madrid.
The H1 2025 figures confirm that these measures, as well as the renewed commercial strategy focused on higher-value operations, are paying off for the company. "These initiatives, made possible by the commitment and efforts of the entire organisation, have been key to this positive development," the release read.
Thus, Nueva Pescanova concluded by saying that the half-year results confirm its EBITDA growth forecasts for the end of the year - it is expected to grow by more than 50% -, so that the Group continues on the path to a positive net result.
