Over the 1st semester 2012, SAPMER’s activity has been steady with a EUR 10.3 million increase of its revenues (Photo: SAPMER)

COMPANY OF THE WEEK: SAPMER Revenues Increase 24 Percent

Deep-sea fishing operator SAPMER (Public, EPA:ALMER ) achieved continued strong growth in the 1st half 2012 with a 24 percent increase of its revenues at EUR 52.5 million.

“The evolution of the 2012 1st half revenues, present the rapid growth phase in which we committed ourselves with a rapid and controlled expansion of our tuna fishing activity,” comments Yannick Lauri General Manager and Director.

Yannick Lauri

“The efficiency of our 4 tuna purse seiners at -40°C, soon to be completed with another ship “BELOUVE” as well as the quality of our product with a premium positioning well recognized by our clients, are great assets to carry out our development. Thanks to a CAP 2012 plan managed successfully, SAPMER commits itself to a second growth phase with great opportunities around the oceans waiting to be seized.”

Over the 1st semester 2012, SAPMER’s activity has been steady with a EUR 10.3 million increase of its revenues at EUR 52.5 million against EUR 42.2 million over the same period in 2011.

This growth in its activity comes from 3 main factors: the rapid expansion of its entire tuna fishing activity (whole and value enhanced tuna), an increase of the revenues for Saint-Paul Rock Lobster and a favourable currency exchange rate due to the euro/dollar parity (SAPMER has done 53 percent of its sales in dollars over the first half 2012).

The tuna activity was the driving force behind SAPMER’s growth, recording good sales within the fishing activity:

• Southern seas fishing (Saint-Paul Rock Lobster and Patagonian Toothfish) continues to show a steady demand from the Asian markets with rising prices. Toothfish sales reached EUR 22.9 million against EUR 23.3 million in 2011 due to a slight change in the fishing campaign. Saint-Paul Rock Lobster sales reached EUR 9.3 million against EUR 8.2 million in 2011 thanks to a favourable price effect.
• The whole tuna sales, in progress by 65 percent, reached EUR 9.6 million against EUR 5.8 million for the first half 2011 with an increased price effect.

For the year 2012, the company expects a continued growth, aiming for revenues in progress to reach 10 percent

The value added activity has speed up SAPMER’s plan:

• The top natural qualities of SAPMER’s tuna ships’ products (sashimi, loins, steaks) create a strong growth for this value enhancing activity. The revenues for this activity increased by 133 percent at EUR 10.5 million, an increase of EUR 6 million compared to the first half 2011. Over the previous 6 months period (change H1 2012 / H2 2011), the activity increased by 20.7 percent.
• The value enhancing and processing activity is taking advantage of a volume effect linked to the increase of value enhanced and processed catches and a growth of Mer des Mascareignes factory’s productivity.

The arrival of a new vessel, the “BELOUVE”, 5th tuna purse seiner, sistership of the first 4, will be christened on 6th September 2012 at Ho Chi Minh City. Built by the SEAS shipyards, Vietnamese subsidiary of PIRIOU, it should leave on 8th September 2012 to be operational for the Indian Ocean at the end of September.

The coming into operation of “BELOUVE” will allow the hiring of 53 new sailors bringing SAPMER’s entire workforce to 581 employees.

SAPMER owns 3 sisterships freezer tuna purse seiners

The arrival of this new tuna purse seiner was achieved on solidly-based achievements:

• A remarkable sales success for SAPMER’s products on international markets, thanks to a top of the range positioning which value enhances the resource optimally;
• A modern fleet with ships allowing the use of fishing techniques respectful of the resource and the environment and -40°C deep freeze on board;
• Approved value enhancing and processing techniques, that insure the quality of products;
• A reinforced and modified organisation in order to accompany the Group at every stage of its development.

For the year 2012, the company expects a continued growth, aiming for revenues in progress to reach 10 percent.

The value enhancing and processing activity is taking advantage of a volume effect linked to the increase of value enhanced and processed catches and a growth of Mer des Mascareignes factory’s productivity

About SAPMER

SAPMER is the deep-sea fishing operator in the waters of the French Southern and Antarctic Territories (TAAF) based on the island of Reunion. Having been created in 1947, SAPMER now operates a wholly-owned fleet of four freezer-longliners for Patagonian Toothfish, a Freezer pot Lobster vessel for Rock Lobster and four tuna purse seiners (deep freeze on board at -40°C) for its tuna fishing activity (Yellowfin and Skipjack) in the Indian Ocean.

Positioned on strong valued ‘niche’ activities, SAPMER is dividing its activities into two categories:
• A fishing activity which includes the Toothfish and Rock Lobster sales fished in the Southern Seas (Economic Zones of the French Southern and Antarctic Territories - TAAF) and whole tuna sales (Yellowfin and Skipjack) fished in the Indian Ocean.
• A value-enhancing and processing activity (sashimi loins, steaks) of halieutic products.

SAPMER realised in 2011 a revenues of EUR 77 million increased by 60 percent compared to 2010 (more than 90 percent of which was done doing exportations outside of Europe, mainly to Asia).

Source: SAPMER

Margaret E.L. Stacey
Editor Companies and Products
editorial@fis.com
www.fis.com

Address:	Darse de Peche 4 rue Charles Dickens
City:	Le Port
State/ZIP:	(97420)
Country:	Réunion
Phone:	+262 2 62 42 02 73
Fax:	+262 2 62 42 03 85
E-Mail:	sapmer@sapmer.fr
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