Stolt Sea Farm parent company Stolt-Nielsen reported the company continued its strong performance in Q4 2024, building on a strong Q3 and ending the year with increased revenue and profit.
In Q4 2024, Stolt Sea Farm reported an operating profit before fair value adjustment of biomass of USD 6.1 million (EUR 5.6 million), up from the USD 4.2 million (EUR 3.8 million) it posted in 2023.
“We continue to see excellent production, steady demand, and strong pricing, with sales of both turbot and sole reaching record highs,” Stolt Sea Farm President Jordi Trias said in the company’s Q4 2024 report.
For FY 2024 overall, the company posted an increased operating revenue, reaching USD 127 million (EUR 116.5 million) compared to the USD 111 million (EUR 101.8 million) it posted in FY 2023. Operating profit also increased, reaching USD 29 million (EUR 26.6 million), up from USD 24 million (EUR 22 million).
Stolt Sea Farm said the year featured excellent production, steady demand, and strong pricing, which all contributed to its increased performance.
“This is only possible thanks to our people, who are dedicated to delivering the quality, care, and innovation behind our award-winning seafood, and I would like to thank them for their efforts,” Trias said.
The company said sales of both of its species reached record highs in 2024. The company sold 6,861 metric tons (MT) of turbot, a slight 0.7 percent increase; and 1,806 MT MT of sole, a 4.5 percent increase.
“This, together with growing consumer demand for high-value species, allowed us to continue expanding our market reach. Sales of our fresh range of value-added products (VAP) also grew 30 percent year on year, reflecting growth in consumer demand for convenience, versatility, and consistent supply,” Trias said.
The record sales were paired with record production, which helped keep costs low and added to its positive performance.
Stolt Sea Farm also highlighted the investments it made in its business in 2024, which included the purchase of a new broodstock facility in Merexo, Spain and extending its sole hatchery in Cervo, Spain – creating what it said is the world’s largest finfish hatchery.
“We also began construction of a new recirculating aquaculture system (RAS) facility for sole production at our farm in Tocha, Portugal,” Trias said.
The company said it entered 2025 in a strong position, and that it plans to continue to focus on increasing construction capacity to meet the strong demand it faced in 2024.
“We will also remain focused on developing our pioneering farming techniques, adopting innovative technologies and engaging in research and development projects and partnerships,” Trias said. “In 2025, we will diversify our product offering further and strengthen our consumer brand to ensure we continue to meet customer needs and retain our market-leading position.”
