• From April to December 2024, it reaches €40.1 million, compared to the €9.80 million generated in the 12 months of the previous financial year.

• Losses fall from €131 million to €38 million, a reduction of €93 million.

• The company expects EBITDA to grow by more than 50% in the next financial year (2025), which would put it on track for a positive net result.

• The operational efficiency measures implemented by the new management team have boosted the company’s results, exceeding its own forecasts.

Vigo, 13 March 2025.- The Nueva Pescanova Group will hold its General Meeting of Shareholders on 27th March to approve its consolidated financial statements, which confirm the turnaround in the business cycle and underpin the company’s recovery.

The Nueva Pescanova Group, after changing its financial year to coincide with the calendar year, achieved an EBITDA of €40.1 million in the period from April to December 2024, a figure four times higher than in the previous financial year (from April 2023 to March 2024). This represents an increase of 309% in just 9 months. This EBITDA of €40.1 million exceeds the company’s own forecast of €37.5 million for the end of the year.

The company expects EBITDA to increase by more than 50% by 2025, which would put it on track for a positive net result.

These improved results are mainly due to the measures implemented by the new management team, which focus on increasing profitability in all operations, cost containment, the renewed commercial strategy focusing on higher value operations, efficiency improvements throughout the value chain, organisational changes and the continued efforts and commitment of all employees.

Reducing losses and improving sales

As a result of the above measures, the Group’s losses have been reduced by €93 million (€38 million from April to December 2024 compared to €131 million in the previous financial year).

Sales have also increased, reaching a total of €770 million from April to December 2024. On a like-for-like basis, calendar year sales would have reached €982 million, compared to €970 million in the previous financial year.

Brand leadership and new product research

Despite the contraction in the sector, the Nueva Pescanova Group has continued to invest in its brand during the financial year 2024. This has allowed the company to maintain its high profile and leadership, consolidating its position as the main reference for seafood among Spanish consumers, according to Ipsos data.

In terms of sustainability, the company has made progress in its commitment to ensure best practice, in line with its strategy, which is aligned with the 2030 Agenda of the United Nations. For example, according to the latest Seafood Stewardship Index, it has been recognised as the fishing company that contributes most to a sustainable and responsible industry, and second in the world in the seafood sector. It is the only Spanish company included in this ranking, compiled by the non-profit organisation World Benchmarking Alliance (WBA), which measures the contribution of the 30 most influential companies in the seafood sector to a more sustainable future.

In addition, the Group’s R+D+i has developed a range of new nutritious, healthy and sustainable products in different categories (natural fish, cephalopods, shellfish, surimi and prepared products). Highlights in this area include the company’s participation in various projects to recover edible by-products (such as the Life Refish and Valorish initiatives), to optimise quality control (Smart4SeaFood) and to improve the sustainability of aquaculture (the European Innoaqua project), among others.