La Réunion fishing company Sapmer has announced loss of €6.10 million for the 2015 operating year, close to half the amount lost the previous year (€11.9 million). The company has been through some difficult years and appears to be struggling to make returns on its heavy investments in new tonnage in recent years.
‘Sapmer has strongly reduced its losses in 2015, despite a difficult context for the tuna activity: whole tuna market prices even lower than in 2014 and an El Nino phenomenon with strong effects in the Indian Ocean which is unfavourable for fishing,’ commented CEO Adrien de Chomereau.
‘The first year of the improvement plan, which will enable the tuna activity to improve strongly, is gradually bearing fruit. Meanwhile, the southern seas activity continues to be profitable and is also subject to ongoing improvements. Looking at the first results achieved, the whole of Sapmer’s team, seafarers and shore based staff, look at 2016 with renewed energy and commitment.’
Over 2015, the company’s revenues from fishing increased by 15%, largely due to high toothfish prices plus a favourable euro/dollar exchange rate and a hefty increase in the volumes of tuna sold at a stable average price, despite a fall in market prices.
‘The increase in sales volume of whole tuna and the favourable change in mixed species are due to the development of the Group’s strategy which aims at placing Sapmer’s higher value tuna on a premium market, by only processing premium quality fish products,’ Adrien de Chomereau said.
‘This strategic change led to a decrease by half in processed tuna sales (loins and steaks). Rigorous selection of quality resulted in higher production yields and improved quality of the end products, which enabled a substantial increase in the average selling price.’
