HE the captain signed New Pescanova lead the change of directionWe’re waiting to see what will finally happen if 80% of Abanca’s fishing capital is sold to Canadian Cooke, comes straight from Asia. There, Jorge Escudero served as Coca-Cola’s CEO for Indonesia and Papua New Guinea. Inbreeding is a hallmark of the highest echelons of the food industry. It came from its predecessor, Campofrío, in the Chapela giant. So what do soft drinks and shrimp have in common? It’s much more than meets the eye when it comes to trading. “From innovative profileemphasizes its ability to drive efficient transformation in areas such as commercial, industrial and supply chains,” lauded the company in a statement on the appointment last Friday. “He adds that he has deep knowledge and experience in international markets, including Europe, Asia and Latin America, which gives him an invaluable global perspective. strengthen the growth strategy of the new Pescanova”. Because this is a major challenge and an urgent need for the group that is clinging to a greater “commercial aggression” in the year that began on April 1, making us forget the remarkable slippage of the previous twelve months.
Due to inflation, the depreciation of the euro against the dollar and, above all, the fisheries production fiasco in Nicaragua, Nueva Pescanova turned red numbers way managed to get through last year. Faro de Vigo from the Prensa Ibérica group lost $53.4 million as a result of advancing with newly deposited accounts in the Alternative Fixed Income Market (MARF). Raw material costs, financial expenses and the deterioration in productivity that Nueva Pescanova herself admits consumed some of the margins after keeping the bills afloat. Sales fell less than 2% to 1,074 million euros.
Turnover did not fall further because the decline in sales in Spain (6.3% less), France (8.8% decrease) and, above all, Italy (where they fell almost 26%), was “partly due to the increase in Portugal”. balanced” (12.9%, Greece (18.6%) and Asia (20.8%). The national market fell two points to 37%.
The commercial and industrial segment accounted for 94.5% of the over 1.015 million turnover. This is followed by Vannamei aquaculture activity with 3.9%. Fishing in Africa accounted for 0.9%; 0.2% from the Southern Cone; and 0.1% turbot farming. Of all, only shield and fishing related subsidiaries and affiliates in the Southern Cone yielded positive results: 5.1 and 11.3 million euros. The main bore came from shrimp farms for around 37.3m euros.
Nueva Pescanova had financial debt of 331.5 million euros as of 31 March 2023, after a 15% cut last year. The interest you pay is increasing rapidly. The average rate ranges from 3.9% in 2022 to the current 4.86%, according to the balance sheet reflecting a treasury position of €60 million, a current line of credit of 3.8 million and a positive operating condition at year-end. Its capital is 56 million.
After the closing date of May 12, the company, with its largest shareholder, Abanca, formalized a loan policy of up to 150 million euros with ICO-guaranteed to help companies affected by the war in Ukraine. Its maturity is 8 years and its nominal interest is 6.1%.