The Scottish Salmon Company (SSC) achieved record revenues of GBP 180.1 million (USD 238.6 million, EUR 210.3 million) in 2018, an increase of more than GBP 29 million (USD 38.4 million, EUR 33.9 million) on the previous year’s record high.
SSC’s earnings before interest, tax, depreciation, and amortization (EBITDA) also reached a record GBP 56.3 million (USD 74.6 million, EUR 65.7 million), up from GBP 38.7 million (USD 51.3 million, EUR 45.2 million) in 2017, while its harvest increased by 4,641 metric tons (MT) to 29,913 MT.
A harvest of around 31,500 MT is anticipated for 2019.
In SSC’s annual report, company CEO Craig Anderson said that throughout 2018, the Edinburgh, Scotland-headquartered company focused on driving export growth.
Its exports accounted for 58 percent of sales last year.
“Our commitment to Scottish provenance and quality are key differentiators in the international marketplace. Our brands, underpinned by this unique Scottish provenance, have contributed to our export achievements over the past 12 months. Lochlander Salmon was successfully introduced into North America and Tartan Salmon Label Rouge launched in France, growing our market share in these territories,” Anderson said. “Developing our presence in North America and the Far East remain our focus. While, like any business, we have been monitoring Brexit negotiations closely, we have a global perspective and robust long-term strategy in place to support growth.”
Anderson said that several investments were made to improve productivity and efficiency during 2018. In addition to increasing its processing capabilities and strategic site development, it set up a new Native Hebridean family breeding unit.
"Supporting this strategy is the recent acquisition of the Harris & Lewis Smokehouse on the Isle of Lewis. Reinforcing our commitment to rural Scotland, it will exclusively smoke Native Hebridean salmon and represents a milestone in the development of this salmon. It complements the introduction of fresh Native Hebridean salmon into a major U.K. retailer earlier this year,” he said. “In 2019, we remain firmly focused on our strategic priorities, ensuring the responsible growth of the company as we bring the finest quality Scottish salmon to customers worldwide.”
