Month: June 2022

Aquaculture is the cultivation of aquatic organisms in controlled marine and freshwater environments. In other words, it’s environmentally responsible farming of fish and shellfish. Freshwater aquaculture typically occurs in manmade channel systems or ponds, whereas marine aquaculture primarily occurs in net pens in the ocean or in tanks on land.
While traditional practices of fishing have been used for thousands of years, there’s simply not enough supply of seafood in the oceans and rivers for the ever-growing demand of consumers for that to remain the only method. Using aquaculture as a source for seafood is not only crucial for meeting consumer demands but it also ensures the seafood is raised in a healthy habitat with improved nutrition. Another benefit is that aquaculture is the perfect habitat to rebuild endangered species, which can save them from extinction.
Overall, the breeding and harvesting of seafood in an aquaculture environment produces the seafood needed to feed the world’s population without causing damage to the environment.

Article taken from: Nueva Pescanova

•The company increased its sales, in its last 12-month financial year, ended in March 2022, by 21.4%, the sales figure was even 4.4% higher than in the pre-pandemic year of 2019.
•It has doubled its EBITDA, which reached €80M compared to €39.5M in the previous year.
•The Group obtained a positive net result of €7M, €31M more than in the previous year.

The Board of Directors of the Nueva Pescanova Group, the Spanish multinational group of companies leader in fishing, aquaculture, processing and sale of seafood products, will bring to the ordinary general meeting, to be held next June 15, the approval of the annual accounts for the last 12 months reporting period, ended March 31, 2022.

The Group’s turnover totaled €1.087Bn, a 21.4% increase year-on-year, and a 4.4% rise if compared to the pre-COVID financial year of 2019. Among other, the increase in sales of Vannamei shrimp and cephalopods stands out.

Analyzing by channel, Nueva Pescanova ups pre-pandemic levels in both Retail and Wholesale and Organized Food Service. In addition, its sales have increased in all destinations, especially relevant are the results in countries such as Portugal, France, Greece and the USA.

On the other hand, the Nueva Pescanova Group has doubled its EBITDA, reaching €80M, after the €39.5M€ gained in the previous year. The Nueva Pescanova Group’s profitability has improved substantially, with an EBITDA/sales ratio of 7.4% up from 4.4%, thanks, mainly, to an improved efficiency of the aquaculture and fishing operations, control of global costs and better commercial margins. The net profit of the Group was €7M, €31M higher than the previous year.

Among the most notable milestones in the year, in May 2021, the Group registered a program for the issuance of promissory notes in the Alternative Fixed Income Market (MARF) for up to €50M.

INVESTMENTS, INNOVATION AND SUSTAINABILITY

Among other, it stands out the investments in Aquaculture 4.0 in the vannamei shrimp facilities in Nicaragua and Ecuador, where 100% of the farming area (6,500 ha) has been fitted with automatic feeders and sensors, thanks to the company’s alliances with companies such as Microsoft, IBM, Repsol or Nokia, which are based on the incorporation of Artificial Intelligence and Big Data into the rearing processes.

In November 2021, the Group opened the Pescanova Biomarine Center, the largest R&D&I center for Aquaculture in Europe engaged in improving the rearing of species, carrying our studies in the field of nutrition, management, health and genetics, as well as the rearing of new farmed species, like the octopus.

In the last financial year, the Nueva Pescanova Group developed a total of 57 innovation products worldwide in the different categories (natural fish, cephalopods, shellfish, surimi and ready to cook products). On this subject it stands out the launch of a new product “La Pasta del Mar”, innovation for which it has received numerous awards, such as the Global Seafood Marketplace, the Carrefour Innovation Award and the Product of the Year, among other.

On the other hand, its commitment to the sustainability of the planet in accordance with the SDGs of the 2030 Agenda, it was once again been recognized as the first fishing company worldwide that contributes most to the achievement of a sustainable industry, according to the 2021 Seafood Stewardship Index ranking of the World Benchmarking Alliance. And it is so, because the Group carried out in this year a total of 1,296 responsible actions in the 19 countries where it operates.

Article taken from: Nueva Pescanova

•The Sustainability-Linked Promissory Note Program will be able to reach a total of 75 million euros.

Nueva Pescanova has launched its first Sustainability-Linked Promissory Note Program on BME’s Alternative Fixed Income Market (MARF), for up to 75 million euros, thus demonstrating its commitment to guaranteeing the social and environmental sustainability of all its activities, including its financial activities.
In May 2022, Nueva Pescanova published its Regulatory Framework of reference for Sustainability Linked Financing, in line with the Group’s sustainability program, “Pescanova Blue”, and a series of Sustainable Development Goals, which define indicators with a direct impact on traceable raw materials and crew and fair employment. The second party opinion certificate has been issued by the independent expert European Quality Assurance (EQA), a certification, inspection and verification body accredited by ENAC, after verifying adherence to the Sustainability Linked Bonds Principles.
The Nueva Pescanova Group launched in 2021 its first issue of promissory notes in the Fixed Income Market through a program that could reach a maximum outstanding balance of 50 million euros, thus diversifying its financing sources and at the same time providing flexible access to professional investors. By renewing the Promissory Note Program, which has now been granted Sustainability-Linked Financing status, the company will continue to issue short-term debt with maturities of up to 24 months.
The Nueva Pescanova Group achieved a turnover of 1,087 million euros in the financial year April 2021-March 2022, a figure that highlights the 21.4% increase in sales compared to the same period of the previous year, and a management EBITDA of 80 million euros, doubling the 39.5 million euros of 2021. Nueva Pescanova employs more than 10,000 workers worldwide and, in the last financial year, has carried out over 1,000 CSR actions in 18 countries on four continents.

We all know that wine and seafood make a great pair, but really are the best wines to pair with each type of seafood to truly enhance the flavor of your meal?

Branzino, also known as Mediterranean Sea Bass, and Cape Hake both have a flaky texture and mild, subtly sweet taste. Due to the mild flavor of both these flaky, white-flesh, fish, a dry white wine like Pinot Grigio or Sauvignon Blanc makes an ideal pairing that doesn’t overtake the flavor of the fish.

Salmon has a pink hue, large flakes, a medium-firm texture, and a mild flavor. Salmon is an oily fish that is well cut with a full-bodied white wine like an oak-aged Chardonnay or Pinot Noir. If you’re looking to pair your salmon with a red wine, try a lighter red wine like a Zinfandel that tests to have a jam-like flavor profile.

Peruvian Mahi-Mahi is another oily, pink-hued fish that has a semi-firm texture, large, moist flakes, and a mild, sweet flavor. Mahi-Mahi pairs well with an aromatic white wine, like Sauvignon Blanc, Gewurztraminer, or an oak-aged Chardonnay.

Chilean Sea Bass is a decadent fish with a mild flavor with just a hint of sweetness, firm white flakes, and a rich, buttery texture. Chilean Sea Bass has a high fat content which allows it to remain incredibly moist when cooked and makes it pair well with an oak-aged Chardonnay or Viognier.

Peruvian Silverside has a semi-firm texture and an oily taste, like a sardine. When pairing silverside, its best match is a wine with acidity like an Albariño.

Argentine Red Shrimp are often compared to lobster for their large size and rich, buttery taste and texture. They pair great with an oak-aged Chardonnay or Riesling. A light red wine, like a Chianti, can also pair well with this succulent shrimp.

Vannamei White Shrimp have a firm-texture and a mild, yet slightly sweet taste. These shrimps are commonly prepared in seafood dishes and go well with a crisp, dry white wine, like a Riesling, Prosecco, or a Sauvignon Blanc. White shrimp also pairs well with a Rosé, especially when char-grilled as it can enhance the flavors of the shrimp.

Spanish Octopus has a firm, meaty texture with a mild, semi-sweet flavor that balances well with a Sauvignon Blanc or Gewurztraminer. Octopus is commonly char-grilled which can make it an equally great companion for a Rosé which will enhance the flavor.

Overall, seafood is usually best served with a white wine, so the wine doesn’t overpower the flavor or the dish.