Tassal slightly slips after earnings fall short

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The Tasmanian salmon farmer, posted in their latest yearly 2018 results.

Tassal posted a full year EBITDA of AUD 110 million (EUR 69.2 million) ending 30 June 2018, a decrease of 3.5% compared to last years AUD 114.5 million (EUR 72 million).

The Australian company’s total revenue from all its sources rose from AUD 450.4 million (EUR 283.5 million) to AUD 509 million (EUR 320.4 million), a 13% increase.

The company said: “Over the past 12 months we have seen favourable salmon market dynamics. Tassal, like the industry both domestically and globally, has seen cost pressures. However, this has been offset by strong consumer demand for Tassal’s salmon (particularly in the wholesale market) which has improved pricing conditions – in both wholesale and retail markets – and allowed for further optimisation of our sales mix to maximise margins. There are supply pressures in both domestic and global markets, however, pleasingly, Tassal has been able to increase its supply position.”

The average price of its salmon decreased by 3.5% when compared to last year, from EUR 9 to EUR 9.3 per kg.

The company harvested 30,883 tonnes of fish compared to last year’s 25,432 tonnes. An increase of 5,451 tonnes despite a challenging warm summer for the Tasmanian salmon industry.

Tassal forecast an increase in both harvesting and sales volumes in 2019.