Stolt Sea Farm, a land-based turbot and sole producer, posted a loss in 2020, largely resulting from a pandemic-fueled collapse in foodservice businesses in its main markets of Spain and Italy .
Stolt reported an operating loss of $8.4 million (€7.05 million), compared to positive results the year prior. Full-year revenues fell 20 percent to $79.7 million (€66.8 million).
As did many others, Stolt shifted its focus to retail in 2020, increasing value-added product sales by 20 percent and building the segment to 65 percent of its business.
