The Unimer Group, a leader in the seafood sector, has posted solid results for the third quarter of 2024, showcasing its resilience and strategic focus. Its semi-preserved fish segment continues to drive growth, maintaining the impressive momentum seen earlier this year.
Unimer reported a significant increase in production and sales volumes across all subsidiaries during the quarter. These gains were achieved through an unwavering focus on operational efficiency and enhanced competitiveness.
The canned fish division, while still grappling with underutilized industrial capacity, received a welcome boost from improved sardine landings in Moroccan ports. This partial recovery allowed Unimer to catch up on production shortfalls and stabilize its sales performance.
For Q3 2024, Unimer’s consolidated revenue stood at 371 million dirhams, slightly down from 379 million dirhams during the same period in 2023. Cumulatively, as of September 2024, the company reported a consolidated revenue of 940 million dirhams, marking a 6% decline compared to last year. Despite this dip, the stellar performance of the semi-preserved fish segment has mitigated the challenges faced by the canned fish division.
A standout achievement for Unimer lies in its significant debt reduction. By the end of September 2024, net consolidated debt dropped to 836 million dirhams, reflecting a 12% decrease compared to the end of 2023. This financial discipline underscores the group’s commitment to cost optimization and stringent expense control, fortifying its resilience in a challenging economic climate.
Unimer continues to prioritize modernization, with 22.3 million dirhams invested by September 2024. These funds have primarily been directed toward upgrading its industrial infrastructure, ensuring long-term operational excellence and competitiveness.
With a clear strategy, disciplined financial management, and a focus on innovation, Unimer is setting itself up for sustainable growth while maintaining its leadership in the seafood industry.
