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Russian Aquaculture trebles salmon production

Atlantic Salmon +1 more

Russian Aquaculture, the country’s largest commercial fish farmer, trebled its output of farmed salmon to reach over 18,000 tonnes in 2019.

The company’s net profit increased by 42 percent, from 2.291 to 3.258 billion rubles, while revenues increased from 3.212 to 8.798 billion rubles.

Russian Aquaculture currently owns licences for 34 salmon and rainbow trout sites, with - they say - the potential production volume of 50,000 tonnes per annum

“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.”