Wednesday Jul 30, 2014 Search
Weather | Athens
31o C
24o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
'Worst year ever,' says Nireus fish farm chairman of 2013

One of the world’s biggest farmers of bass and bream farmer, Greek listed company Nireus experienced the "worst year in its history" in 2013, chairman Aristides Belles told industry website Undercurrent News on Tuesday, though he added that the outlook is positive for 2014.

The Athens-listed company posted net losses of 75.5 million euros in 2013, according to the report, compared with losses of 13.9 million euros a year earlier, mostly driven by an average decline in sale prices of 7.2 percent, which brought losses of 30 million euros. Of this, the report noted, 10 million euros corresponded to lower sales value and 20 million euros to a lower valuation of the biomass.

Further losses can be attributed to one-off events, the chairman of Nireus said, adding that these included 3 million euros from higher average raw material prices for feed, and 11.3 million euros from one-off provisions. Another 24 million euros were lost in earnings because of a lower growth of fish in the second half of 2013 — due to higher mortality and changes in feed and sea temperatures, Undercurrent News reported.

Sales in 2013 decreased by 6.1 million euros from the previous year despite volumes increasing by 1,300 metric tons to 32,900 metric tons from 31,600 metric tons in 2012.

Nireus operates 42 fish farms in Greece, Turkey and Spain.

“2013 was the worst year in the history of Nireus group,” Belles told Undercurrent News. ”The unprecedented lack of liquidity, as well as the continuing climate of uncertainty, dragged the prices to very low levels, whereas we also faced the large increase in the prices of raw materials with collateral effects.”

However, Belles said Nireus is optimistic about its performance in 2014 and is in talks with its creditors for a restructuring of its debt.

Management “already notes that for 2014 there is a much improved outlook for recovery and for improvement of the economic and business conditions”, Belles told Undercurrent News. “This, in tandem with the on-going actions for cost reduction and productivity improvement, will lead to the expected recovery.”

The company’s equity also remains in the black — unlike that of rivals Selonda and Dias — and cash flow was positive, the report said.

ekathimerini.com , Tuesday April 1, 2014 (12:04)  
Deals reached for twin plot on Afandou, for 42 million
More delays and red tape for companies’ tax rebates
Greek shipowners continue to invest in fleet renewal
Trainose sale is not on track
Troika review in Athens unaffected by Paris meeting
A meeting between troika and Greek government officials in Paris at the beginning of September does not mean that representatives of Greece’s lenders will not then travel to Athens to carry ...
Soldiers set to sue over wages
Members of the armed forces and emergency services look set to take legal action to have their wages restored to pre-2012 levels after the government suggested it would not raise their pay t...
Inside News
VOLLEYBALL
Volleyball national team second in European League
Much as the national volleyball team tried to repeat in the finals of the European League the feat it had achieved in the semifinals, it failed to overturn the advantage Montenegro had got f...
SOCCER
Ranieri says he has little to change in Greek national team
The Hellenic Football Federation (EPO) presented Claudio Ranieri as the new Greece coach for the next couple of years, after the Italian manager signed his contract in Athens on Friday. “I l...
Inside Sports
COMMENTARY
Through insecurity comes optimism
Prime Minister Antonis Samaras recently expressed his optimism regarding the quota of 180 Parliamentary deputies required for the election of Greece’s next president, in order for the countr...
EDITORIAL
Futile policy
The policy that Israel has been pursuing vis-a-vis the Palestinians is wrong and futile. Current tactics have failed to resolve the security issue and, at the same time, they are rapidly dra...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Deals reached for twin plot on Afandou, for 42 million
2. More delays and red tape for companies’ tax rebates
3. Greek shipowners continue to invest in fleet renewal
4. Trainose sale is not on track
5. Industry asks for gov’t intervention
6. Troika review in Athens unaffected by Paris meeting
more news
Today
This Week
1. Greece names fifth privatization agency chief in four years
2. Archaeological council bans international climbers' gathering at Meteora
3. World’s largest solar boat on Greek mission
4. Venizelos to meet Nimetz in Athens
5. Tsipras discusses Cyprus with Anastasiades in Athens
6. More than 120,000 households to receive special benefit
Today
This Week
1. Unequal after death
2. Greek sovereign debt at 174.1 percent of GDP in first quarter
3. Hedge fund Dromeus turns Greek tragedy to triumph with 160 pct gain
4. Quadriplegic woman on life support 'dies due to unpaid power bills'
5. Front-line threats
6. Defense Minister Avramopoulos to represent Greece at European Commission
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.