Stolt Sea Farm closes 2021 with growth in mind

Stolt Sea Farm closes 2021 with growth in mind

Stolt Sea Farm (SSF) closes its 2021 balance sheet with a new record annual sole production, its best turbot production month ever, and its highest revenues in a single month. The Spain-based aquaculture company, which specializes in flatfish production, achieved 1,570 tons of sole and 5,700 tons of turbot in 2021 and boasts that it is "the only aquaculture company that can consistently produce the highest-quality sole and turbot in commercial volumes".

These are statements made by its president, Jordi Trias, in the company's annual report, where he also assures that its achievements in 2021 reflect its "flexibility and resilience" during the year. A year in which the pandemic continued to have a major impact on both consumption and prices, not only for sole and turbot but for all species. However, thanks to increased demand with the reopening of the on-trade and record average prices for both species during the traditionally strong summer season, SSF achieved annual revenues of $108.6 million (versus $79.7 million in 2020) and an operating profit of $24.4 million (versus an operating loss of $8.4 million in 2020). "Our people demonstrated impressive agility in these fluctuating conditions, adapting production volumes, driving sales and delivering the quality and efficiency SSF is known for", Trias said.

Thinking about growing

Despite all these records, Jordi Trias considers 2021 a transition year. "We laid key foundations for our next growth phase, from scouting sites for new farms to designing new facilities and planning construction of new hatcheries and broodstock areas. We also reorganised and expanded the SSF sales team, bringing in a new Chief Commercial Officer and establishing processes and skills that will accelerate our entry into new markets", he said.

Looking ahead to 2022, Stolt Sea Farm believes that prices will remain high for both sole and turbot and expects to achieve solid production volumes that will allow them to take advantage of demand. To this end, the company will open three more RAS farms, adding to its current fourteen; upgrade its packaging facilities in Spain; and focus its product and species diversification strategy.

All this in a year, this 2022, in which SSF celebrates its 50-year anniversary. An important milestone for the company which, in the words of its president, Jordi Trias, "has evolved into a true aquaculture pioneer, reflecting the vision and dedication of many people over the years".

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