Russian Aquaculture, one of the Russian leaders in the production of Atlantic salmon and trout, announced in its IFRS financial results for FY 2019 that it has nearly tripled its volume sales to 18,070 tons.

“Russian Aquaculture was successful in achieving its objectives in 2019. Thanks to the systematic implementation of our strategy, we managed to attain a high degree of financial and operational sustainability. We were able to make major investments which were almost completely funded by operating cash flow,” said Ilya Sosnov, Russian Aquaculture CEO.

The company’s core business areas are commercial farming of Atlantic salmon and sea trout in the Barents Sea in the Murmansk region and trout in the lakes of the Republic of Karelia. Russian Aquaculture currently owns cultivation rights for 36 sites for the farming of salmon and rainbow trout. The total potential production volume for these sites is around 50,000 tons of salmonids.

The company’s long-term development strategy involves the creation of the largest vertically integrated player in the aquaculture market, including the production of feed and stocking material, primary processing and distribution of the company’s own products.

“At this point in time, it is too early to say how the current crisis will affect our business. We have taken all necessary measures and continue to operate as usual, ensuring the continuity of production processes and product deliveries to our customers. At the same time, we continue to monitor the situation and are ready to adapt if necessary. Our priorities today, as always, are the safety of our employees, consumers and contractors, as well as ensuring business continuity while minimizing operational and financial risks,” Sosnov said.