Russia’s largest salmon farming company, Russian Aquaculture, took a hit on both earnings and revenues in 2018, but more than tripled the value of its commercial biomass.
Earnings before interests, taxes, depreciation and amortization (EBITDA) fell 53 percent to RUB 974 million (€13.6 million/$15.3 million) largely due to reduced revenues, which fell 36 percent to RUB 3.2 billion (€44.5 million/$50 million) during the year.
Russian Aquaculture’s sales volumes decreased 34.6 percent as compared with 2017 to 6,800 metric tons due to lower harvests because it did not stock salmon sites in the Murmansk region in 2016.
