'Old' Pescanova closed its first quarter with losses of EUR 72,000.

Pescanova S.A. triples losses in the first quarter

Pescanova S.A.  recorded losses of EUR 72,000 during the first quarter of its fiscal year -from December 1 to February 28-, almost three times more than in the same period of the previous year, when it suffered a loss of EUR 26 million.

In its financial report, the company -which has no productive activity- indicated that its income in this period totalled EUR 82,000, corresponding mainly to "the annual support that the company must receive from Nueva Pescanova" after the separation of the group into two different companies, in 2015.

With respect to expenses, the company informed the National Securities Market Commission (CNMV) that the majority (EUR 60,000) corresponded to general expenses of external advisors and remuneration of the Board of Directors.

Shareholders of Nueva Pescanova | Abanca tripled its participation in the multinational and comes to control 16% after taking 6.77% of HSBC

Pescanova also reported that at the end of the first quarter of 2019, its net worth was EUR 2,571 million (compared to EUR 2,796 million in the first quarter of 2018).

In addition, the company pointed out that during this period no divestments or significant investments were made.

In the document, those responsible for Pescanova S.A. remind that since the end of November 2015, when the change of control took place, the firm is a holding company with two significant assets: an account receivable from Nueva Pescanova, S.L. for non-segregated liabilities, and a shareholding in Nueva Pescanova, S.L. of 1.65% valued at EUR 2.04 million.

It is worth recalling that the Provincial Court of Pontevedra recently dismissed a complaint asking the company to challenge the capital increase approved in 2017 by New Pescanova, which reduced its weight in capital from 20 per cent to 1.65 per cent.

[email protected]
www.seafood.media

Address:	Rúa José Fernández López. s/n
City:	Chapela Redondela
State/ZIP:	Pontevedra, Galicia (36320)
Country:	Spain
Phone:	+34 638702043
E-Mail:	[email protected]
More about:

Print