The Rostein wellboat company delivered a solid operating margin of 37 percent in 2016. However, this marks a decline compared to 2015, when the company hit 40 percent.
Rostein is one of the world’s leading wellboat companies and has around 150 employees. The company offers transport of smolt and slaughter fish and performs sorting/counting of salmon and trout.
Revolutionary treatment
2016 was a good year for the company in every aspect, with both sales and earnings increasing compared to 2015. The pre-tax profit increased by 47 percent.
Vice President Glen Bradley told SalmonBusiness that the company is pleased with 2016’s performance.
“We are pleased with last year, where existing fleets were very well utilized. Two well-functioning new-build boats were also delivered last year.”
He also said that 2016 was the start of a major transformation in treatment of parasitic diseases.
“In the first half of 2016, chemical treatment accounted for around 70 percent of all treatment. In the first half of 2017, emission-free treatment is 98 percent and chemical at about two percent, so in practice it is phased out. So even though top functioning, well-maintained and efficient vessels are an important part of Rosteins DNA, the start of this treatment revolution was probably a major event in 2016.”
He is also pleased that many customers have ‘rediscovered’ the value of sorting, and this is also popular in combination with transportation and processing.
Increasing debt
All Rosteins wellboats operate in Norway and are listed in the Norwegian ship register.
“Both new builds and upgrading of existing boats are a tough gig, but we now have a fantastic fleet to serve our customers in the future. This naturally increases debt and obligations as well as eating up cash, and would not have been been possible without a healthy underlying operation. We have to help move the industry forward and are now well equipped to give our customers both greater capacity and flexibility in the future,” concludes Bradley.
The company is headquartered in Harøy in Sandøy municipality in Møre og Romsdal in Norway.
