Stolt Sea Farm continues to strengthen its profitability in the third quarter of the year

London October 3th, 2024 | Although turbot sales have decrease while sole sales have grown, the company remains optimistic for the Christmas season

Rodaballo, una de las especies estrella de Stolt Sea Farm

Stolt Sea Farm delivered a strong performance in the third quarter, driven by high demand and increased prices for its two main products, turbot and sole. According to the company's unaudited financial report, sales of sole increased by 5.9%, while sales of turbot decreased by 5.8%.

Despite the decline in turbot sales volumes, improved prices for both products contributed positively to the company's overall turnover. During the quarter, Stolt Sea Farm recorded revenues of $33.6 million, exceeding the $31 million recorded in the same period last year. Operating profit before biomass fair value adjustment was $8.7 million, compared to $6.1 million in the third quarter last year.

However, the net result was impacted by the fair value adjustment on biomass due to rising production costs, particularly for energy and feed, exacerbated by inflation.

Despite these challenges, the company remains optimistic about the fourth quarter and is preparing to build up its biomass ahead of the Christmas season, a high demand period that could deliver favourable results.