The Nueva Pescanova Group in Spain plans to invest, by 2020, EUR125m, of which 42.5 million that will go to the renewal of its fishing fleet, 9 million to improve its IT systems and 4.5 million for a R&D&I Center for Aquaculture, which will get started in 2017 in O Grove, and will position Galicia as a world leader in aquaculture research.
The CEO of the Nueva Pescanova Group, Ignacio González, presented the Strategic Plan of the company for the 2016-2020 in an event attended by the top executives of the Group. The strategic lines are based on four key pillars: commercial ambition; the ability to adapt processing and supplies; costs reduction; and the centralization of the management, processes and organization of all subsidiaries under a single company.
With regard to the commercialization of its products, the Group aims at selling under the Pescanova brand, a leader in its category, broadly recognized and with a high added value. Thus, its commercial efforts will be focused on five strategic markets, which it has called the “BIG 5”: Spain, Portugal, France, Italy and the US. Likewise, through its exports division, sales will be promoted in other European counties, as well as in Asian markets as a source for future growth.
With the implementation of this plan, the financial targets of the multinational company are to four fold its operating result, EBITDA, from 35 million in 2015 to 139 million euros in 2020. On the other hand, it also forecasts a 50% increase in sales, from the present 1 billion euros to reach 1.5 billion in 2020.
As explained by Ignacio González, “the new idea behind the plan is that the Group has to build a true team culture, in which we all work together to achieve the same goals and as a single Company”. On this same aspect he pointed out that “the Company will continue to be strongly committed to our partner communities” – as part of its Corporate Social Responsibility activities – “as well as firmly committed to the sustainability of marine natural resources and food security”.
