April 14, 2020

Russian Aquaculture triples salmon output

Russian Aquaculture, the country's largest commercial fish farmer, tripled its farmed salmon output for 2019 to reach over 18,000 tonnes.

The company's net profit increased by 42%, from RUB2.291 billion to RUB3.258 billion, while revenues increased from RUB3.212 billion to RUB8.798 billion.

"Russian Aquaculture was successful in achieving its objectives in 2019. Thanks to the systematic implementation of our strategy, we managed to attain a high degree of financial and operational sustainability. We were able to make major investments which were almost completely funded by operating cash flow," said CEO, Ilya Sosnov.

"At this point in time it is early to say how the current crisis will affect our business. We have taken all necessary measures and continue to operate as usual, ensuring the continuity of production processes and product deliveries to our customers. At the same time, we continue to monitor the situation and are ready to adapt if necessary. Our priorities today, as always, are the safety of our employees, consumers and contractors, as well as ensuring business continuity while minimising operational and financial risks."