Shrimp drives sales at Nueva Pescanova, which returns to profit | Economy

With the pandemic the parties are over (and with them the prawns), but the recovery has returned to the table of the Nueva Pescanova Group. After billing 1,087 million euros in its fiscal year, which ends in March, the company has recovered profits (they would be the second in its short history, after those registered in 2017). Sales grew by 21% compared to the previous year and are 4.4% above what the multinational had before the pandemic.

The company supported the result in the growth of billing in characteristic products of its brand, such as shrimp vannamei and the cephalopods. They grew in all divisions, both wholesale and retail and catering. They also improved in all their international destinations, especially in countries such as Portugal, France, Greece and the US.

The Nueva Pescanova Group, heir to the Galician firm that in 2013 went bankrupt after a mountain of 2,400 million hidden debts, doubled its operating profit (80 million) and improved profitability on sales (7.4% compared to 4.4 % above), “mainly thanks to better efficiency in aquaculture and fishing operations, global cost control and improved commercial margins”. The net result was seven million compared to losses of 39 million in 2020.

The company highlights that it has invested in aquaculture in Nicaragua and Ecuador, where it has managed to install automatic feeding for its entire shrimp farming area (6,500 hectares), thanks to the company’s alliances with companies such as Microsoft, IBM, Repsol or Nokia with the help of artificial intelligence.

In November, the company opened the Biomarine Center, a large research center in the fields of animal nutrition, management, health and genetics, as well as to develop captive octopus farming for commercial use. To achieve the latter, it projects a breeding farm in Las Palmas in which it will invest 45 million to produce 3,000 tons of octopus from 2023, something that no company has achieved so far. Last year it launched 57 products, among which there is a paste made from fish.

The company has some 10,000 employees in 19 countries, a fleet of 62 ships and 17 factories. Abanca, heir to the Galician savings banks that for years bet heavily on the company that ended up in bankruptcy, has 97.5% of Nueva Pescanova and has long been looking for an industrial partner for the multinational that popularized Rodolfo Langostino.

He knows in depth all the sides of the coin.


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