April 2, 2012

Haikui Seafood announced IPO at Frankfurt Stock Exchange

Haikui Seafood AG has planned for an initial public offering on the Prime Standard of the Frankfurt Stock Exchange in second-quarter of 2012.

The company is expecting continued growth stimuli from international markets and rising demand from China for high quality seafood products, which is growing excessively quickly, and the management board thus sees the offering as crucial to its strategic development.

Haikui also informed that it had a three-year compounded profit growth of 25.4% on a compounded annual sales growth rate of 26.8%.

For last year, the company had a profit of EUR28.3 million (US$38 million) -- representing a net profit margin of 18.6% -- and EBIT of EUR34.0 million (US$45.4 million) on revenues of EUR152.1 million (US$203 million).

The firm processes high-quality fish and seafood for international markets and the Chinese market. Due to the early adoption of European and US food safety standards and its strategic location within one of the most important areas for seafood processing in China, Haikui Seafood is in great shape to satisfy the demand for high-quality seafood worldwide, the company said.

Haikui Seafood's product portfolio carries more than 100 different consumer products of frozen and canned fish and seafood, including prawn, crab, various species of fish and shellfish and cephalopods. In 2011, Haikui generated 68.1% of its sales in international markets and 31.9% of its sales in China.

Haikui is one of few processing companies in China that offers both frozen and canned fish as well as seafood products. The processing facilities have an annual production capacity of around 28,500 tonnes.

Based on the sales figures from last year, the company holds an estimated market share within the Chinese market for processed, packed and labelled fish and seafood products of 5.2%.