The fleet of the Galician capital operating in Malvinas has already finished the campaign. One of these ships, with a capacity of more than 2,500 GT, has already found a buyer for its catches when it has just finished unloading at Vigo. “Paid very well, very expensive.” The market is inflated, as all operators consulted in the industry agree, “and everything is sold at almost any price”. A sharp leverage for both those who have productive capacity at their origins and those who rely on third parties: to the former because of the energy and input costs released; second, because competition is global and has the liquidity to acquire raw materials of any value.
A tidal wave coming with COVID remnant depriving food from essential markets such as food service (restaurants, catering) or part of retail (retail but not marketing products for large family events) for months. The keys explaining the outstanding fiscal year achieved by the main operators in the Galician fishing industry are: a bright post-pandemic recovery, strong global demand and very high prices. In total, According to the data, there are 19 business groups with a turnover easily exceeding 4500 million euros. Vigo Lighthouse for each. All have improved their pre-COVID records.
incubation
The exponential most important progress was that of Grupo Profand. With sales of 660 million euros in the coronavirus year, the company led by Enrique García Chillón was at the door of 800. Its shareholders now have the backing of Corporación Financiera Alba, which owns more than 23% of the capital. injected 100 million euros into the company. It was a pioneering operation in an industry with extensive family roots and accustomed to entering venture capital funds in recent years. This did not happen. Profand also completed its entry into the aquaculture segment with the acquisition of the Greek company Kefalonia, which has set the benchmark for Europe in trout in Galicia – the now disused Isidro 1952’s facilities – and sea bream and sea bass.
this private equity Platinum owns the majority of the capital in Grupo Iberconsa, which also owns the Portobello fund among its partners. “Our projects are aligned with our strategic plan, which aims to create maximum value from raw materials extracted by our fleet and marketed from third parties”, exposing its CEO, Alberto Freire. Its sales have already exceeded 400 million euros and it is the world leader in frozen hake and Argentine shrimp on board with more than fifty ships. The action plan is based on four pillars: increasing fleet production efficiency through new units and investments in existing units, new industrial projects – especially in Argentina and South Africa – development of the international retail channel and new product lines ready and ready to cook. food.
In terms of revenue and tons sold, Profand and Iberconsa completed a podium as usual led by Nueva Pescanova. The multinational company under the control of Abanca recovered the 1,000 million threshold in sales, exceeding its 2019 revenue at a minimum, leaving behind losses; The separation of the financial institution from its capital will be a turning point in the entire industry, as all sources consulted state that no Spanish company is in a position to submit a proposal. It will be like those who have reached most of all these companies. Heads of Fandicosta or Interatlantic, respectively, Ángel Martínez Varela and Luis Cabaleiro were some of those who had been researched by mutual funds in the past.
Other strategies
Pescapuerta’s goal is to preserve the family DNA, with which it has been consolidated as a permanent reference in the industry. Its strategy has always distanced itself from inorganic growth operations, as noted by the management team. It was allowed to grow under the chairmanship of José Puerta. “for the optimal development of commercial and distribution activities, in the main areas of both national and international markets and in national capillary distribution”. It finger-tips 300 million consolidated turnover – closing 2021 with 283 million – and bolstered its mining capacity in Mauritania with a new freezing vessel. Grupo Pereira, the main protagonist of the evolution of Galician industrial fisheries, also has investments on the table. In a project worth around six million euros, Argos Pereira will have a new propulsion system with the replacement of the main engine. And in pursuit of this optimization of energy costs, which is almost common in the industry, Vigo and will install photovoltaic panels at its factories in Pazos de Borbén. The first, in addition, will gain productive capacity. Led by José Enrique Pereira, the group achieved a turnover of 168.5 million.
Concern about fixed costs in terms of energy will fill the roofs of Fandicosta and Marfrío’s factories in Moaña (the first), Marín and Vila Nova de Cerveira with photovoltaic panels. “We have the challenge of keeping the fleet operational in Senegal, where the increase in costs has increased to more than 50% of the total”, sums up the president of Vieirasa, Eduardo Vieira. “Maybe in the last quarter of the year we can think more about projects.” In Fandicosta, for example, the installation of the first phase of solar panels reduced the electricity consumption of the Domaio factory by 15%; it’s a repeated attempt at the fridge the group has in Vigo, and with even more savings. He will break the catch record in Argentina, where he works with a second jigger at full capacity; reached a turnover of 257.5 million Euros on a consolidated level.
Cabomar is one of only three companies to surpass this revenue level in 2021, joining the 100 million club. So is the Interatlantic Fish trader. The first is examining the expansion of the Marín factory with new processing lines, as explained by its president, Enrique Freire. But the biggest challenge is this bloated market. “We will see what happens after the summer because I think it will definitely affect consumption”, summarizes. It is not long before Frioantartic joins this 100-man club with a turnover of 97 million last year. Third, Lanzal did it through the front door with more than 122 million, 33% over pre-COVID volume.
That of the 100 is a sales line that young companies like Wofco, Atunlo (owned by Comercial Pernas, Pevasa and Inpesca) and Pernas, galloping towards 250, have long crossed. Congelados Maravilla, which has just carried out its first inorganic operation outside of Spain, It calculates that it will close the current year at the level of 80 million.. The company, led by Giuseppe Mellino, has maximized revenues with more than 63 million invoices and sales of less than 8,000 tons, making the most of the appeal of species such as the octopus.