Sapmer revenue drops on tuna prices
France-based tuna catcher and processor Sapmer’s first half of 2014 has been negatively impacted buy a drop in tuna process.
The company’s revenue totaled EUR 46.52 million (USD 60.1 million), down from EUR 55.54 million (USD 71.7 million) during the same time period in 2013. EDITDA was also down to EUR 420,000 (USD 542,564) compared to EUR 10.66 million (USD 13.8 million) in 2013.
“Over the 2014 first half, Sapmer’s activity was mainly impacted by a strong drop in the whole tuna sale price, a storage effect on the southern seas activity which should recede during the second half and by an unfavorable exchange rate for toothfish, rock lobster and while tuna,” the company said.
“Over the first half, 42 percent of the volumes of tuna catches were value enhanced against 21 percent for last year which helped reduce exposure to the volatility of whole tuna price.”