Sapmer’s 2017 revenues leap on four-vessel gain

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Fishing firm Sapmer, based on the French Reunion Island in the Indian Ocean, saw a strong boost to its 2017 revenues thanks to the integration of four additional vessels from its parent company during the year.

Managing director Adrien de Chomerau also called the implementation of fishing quotas on yellowfin tuna in the Indian Ocean a milestone; “so these are now the three fisheries of the group which benefit from a strict framework that allows a sustainable management of this resource”.

Turnover for the fiscal year came to €172.9 million, a steep increase credited to the four new vessels Sapmer gained from Sapmer Investissements.

Comparing like-for-like to 2016, 2017 turnover showed a 7% decrease.

The fisheries operation constituted 89% of the total turnover of the period.

Rock lobster turnover, mostly fulfilled during the first half, showed a 12% increase compared to 2016 thanks to a sale prices raise, combined with a favorable exchange rate EUR/USD at the beginning of the year, the firm noted.

The fall in toothfish turnover was mainly the result of a volume decrease caused by an offload time lag of one longliner over 2018. “Moreover, the toothfish, almost fully denominated in dollars, has been sold at constant US dollar prices, but has suffered from the decline in this currency around the year’s end.”

The turnover of raw tuna reached €85.3m in 2017 thanks to the four new tuna seiners. “The implementation of fishing quotas on yellowfin tuna has caused a decrease in volume during the second half that was balanced by a price leverage (same turnover for the two halves),” Sapmer said.

The sale of processed tuna, including loins and steaks, has recorded a growth of 31% due to emphasis laid on the quality, the company claimed.

“This strategy has produced a satisfying progression of the sales prices up to +8.2% compared to 2017. The company continues to focus on its 100% natural premium end products through processing and valorisation of the topmost quality catch.”



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