|
'...aquaculture area recorded 36.6 million in losses'.Photo: José María Benavent with Alfonso Rueda and Ángeles Vázquez / Nueva Pescanova
Aquaculture punishes Nueva Pescanova: it closes the year with 53 million in losses in full sale to Cooke
(SPAIN, 7/17/2023)
The following is an excerpt from an article published by Economia Digital Galicia:
The aquaculture division recorded red numbers of 36.6 million in the year ended in March of this year, more than half of the group's total losses
.png) Nueva Pescanova faces the negotiation for the sale to Cooke in a sea of losses. Just a few days before Abanca reached a preliminary agreement with the Canadian company for the transfer of 80% of the capital and, consequently, the change in control of the group, the fishing company ended the year with bulky red numbers. The Galician multinational closed its fiscal year on March 31, recording losses of 53.2 million euros, compared to the 7.8 million profit of the previous year. The negative performance of the aquaculture area was key in the fatal outcome, which can now be a drag to formalize the operation with Cooke, valued at the time by Abanca at around 800 million.
The company chaired by José María Benavent and directed throughout the year by Ignacio González, now outside the group, was already pointing to a course in the red in December. Abanca's annual accounts revealed that its investee had obtained a negative result of 60 million in the first nine months of its exercise. The final balance indicates that Nueva Pescanova, at least, was able to contain the bleeding.
.jpg) The results included in its Non-Financial Information Statement, expressed before taxes and consolidation adjustments, show that all the business divisions except the fishing activity in Argentina and Peru recorded losses. The most significant were those of the aquaculture area, which recorded 36.6 million in losses. This CGU (cash generating unit) includes the vannamei shrimp plants in Nicaragua, Ecuador and Guatemala, but not the turbot farm in Galicia or the octopus farm that the company is developing.
In the commercial area, the losses amounted to 11.7 million, while the fishing activity in Namibia, Mozambique and Angola contributed a negative result of 17.8 million. At the end of the year, the group's workforce was made up of more than 10,000 workers, a lower figure compared to the 11,000 it had on the same date last year.[...continue]
Author/Source: Rubén Rodríguez Vázquez / Digital Economy | Read the full article by clicking the link here (only available in spanish)
Information of the company:
|
Address:
|
Calle José Fernández López, s/n
|
|
City:
|
Chapela - Redondela
|
|
State/ZIP:
|
Pontevedra, Galicia (36320)
|
|
Country:
|
Spain
|
|
Phone:
|
+34 986 818 100
|
|
Fax:
|
+34 986 818 220
|
|
E-Mail:
|
[email protected]
|
More about: 
|
|
|
Approval / Accreditation / Certified / Oversight by...
|
Print
