Key events in Q2 and 6 Month 2023

     The Company’s turnover in Q2 of 2023 has maintained its upward momentum compared to both Q1 and H1 of 2022. In the first half of 2023, the company’s turnover amounted to EUR 6 781 809, which is 27.9% higher than in the same period of 2022. The production and sale of canned sterilised fish is the company’s main source of income, accounting for 99.67% of turnover, including 75.89% from own production.

     The Company’s sales growth is driven by a wide range of clients - distributors, supermarket chains - around the world, long-term business relationships with clients and a wide range of products.

Performance and Financial situation of the Company

     In the first 6 months of 2023, the company made a profit of EUR 875 931, including In the 2nd quarter in the amount of EUR 486 479. Exceptional income received has a significant impact on profit from European Maritime, Fisheries and Aquaculture Fund support, in addition to the partial reimbursement of costs, which amounted to EUR 135 626 in Q1, EUR 192 614 in Q2 and a total of EUR 328 240 for the 6 months. Excluding the cost increase compensation component in the 6 months of 2023, the profit calculation amounted to EUR 547 692, or 1,92 times higher than in the corresponding period of 2022. The Company’s equity as at 30 June 2023 amounted to EUR 3,22 million, or 36,84 % of total assets, an increase of 7,84 % compared to the corresponding period in 2022 at the end of June.

    The start of full production in the new unit, implemented with the support of the European Maritime, Fisheries and Aquaculture Fund, will not only increase the company’s production capacity, but will also provide additional jobs for the county’s residents and tax payments to the state and municipal budgets. In 2022, the total amount of taxes paid was EUR 644,348 and EUR 373,214 in the first 6 months of 2023. At the end of the reporting period, the company employed a total of 149 county staff.