Sapmer SA Completes Financial Restructuring Amidst Revenue Decline

Sapmer SA ( (FR:ALMER) ) has shared an announcement.

Sapmer SA has completed a significant phase of financial restructuring by strengthening its equity and reducing debt, highlighted by the approval of a second tranche of a reserved capital increase amounting to 5 million euros. This financial maneuver, coupled with a return to normal operations in the second half of 2024, positions the company for future growth despite a 27% decline in annual revenue due to the sale of Mauritian tuna boats and the shutdown of its processing unit in Mauritius. The company is optimistic about its market position, with improved fishing performances and favorable market conditions for its products.

More about Sapmer SA

Sapmer SA operates in the fishing industry, primarily focusing on fisheries and the sale of premium seafood products. The company has a fleet of French-flagged vessels and markets its products mainly in Asia, the Indian Ocean, Europe, and other regions.

YTD Price Performance: 6.82%

Average Trading Volume: 212

Technical Sentiment Signal: Buy

Current Market Cap: €38.41M

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