Sapmer's CEO Adrien de Chomereau. (Photo: Stock File)
SAPMER obtains slight boost in H1 profits
(RÉUNION, 9/24/2015)
Fishing firm SAPMER experienced a slight drop in its half-year revenue this year compared to the same period in 2014 but managed to obtain growth in its EBITDA thanks to the effects of the strategic changes implemented 6 months ago.
“Helped by the savings on the cost of diesel, the improvements in the management of the upstream and downstream operations and the focus on premium products for the value enhancing activity are beginning to gradually bear fruit,” commented the firm’s CEO Adrien de Chomereau.
SAPMER informed revenues at EUR 45.1 million for the six first months in 2015 from EUR 46.5 million during the same period a year ago, representing a 2.9 per cent decline.
However, the firm’s EBITDA improved to EUR 2.25 million against EUR 0.42 million during first half 2014 and the level of net income stabilized despite certain challenges.
The net loss group share was EUR 3.5 million compared to a loss amounting to EUR 3.7 million in the first six months last year.
The firm’s sources pointed out this occurred thanks to a favourable context for the southern seas fishing activity: toothfish and rock lobster fisheries.
These fisheries were favoured by lower costs derived from the decrease in the price of diesel for the fishing activity and the processing and logistics cost reductions for the value enhancing activity.
Besides, the firm’s managers explained there was a shift in the unloading of two toothfish vessels represented an income that is EUR 5 million inferior to that last year. In addition, there was a 10 per cent drop in whole tuna prices compared to the previous year and a change in the loss carryforwards accounting treatment which was used in 2014.
After taking into account the depreciation, stable compared to first half 2014, and the financial income that benefits from foreign exchange gain, the income before tax amounted to EUR -2.8 million against EUR -5.4 million in first half 2014.
editorial@seafood.media
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Information of the company:
Address:
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Darse de Peche 4 rue Charles Dickens
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City:
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Le Port
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State/ZIP:
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(97420)
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Country:
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Réunion
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Phone:
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+262 2 62 42 02 73
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Fax:
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+262 2 62 42 03 85
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E-Mail:
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sapmer@sapmer.fr
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