SAPMER : 2015 FIRST HALF REVENUES.pdf

Reunion Island, 18 August 2015 - 08:30 (Paris time)
Over the semester, SAPMER achieved revenues of €45.1m, down by 2.9%. The revenues benefitted from the favourable context of the Southern seas fishery (toothfish and rock lobster) and reflects the on- going difficult conditions of the low cycle of the tuna activity.

The southern seas fishing activity generated €27.0m of revenues (60% of the Group's revenues).
- Toothfish sales reached €20.2m (+2.2% against HY1 2014), despite lower volumes due to the shift in a vessel's unloading dates, the previous year. Sales prices are increasing and the euro/dollar exchange rate is favourable.
- Rock lobster revenues is up by +14.7% (+€0.9m), sustained by a slight volume effect compared to HY1 2014 and a favourable euro/dollar exchange rate.
Whole tuna sales reached €11.7m against €7.9m for the same period in 2014 due to a strong increase in whole tuna sales volumes following the Group's strategy evolution to value enhance only tuna of premium quality and sell standard quality as whole tuna.
This change also had the positive effect of maintaining the average selling price of whole tuna sales to level comparable to the one achieved the previous year, while market prices are down by more than
10% in HY1 2015; pushed by Yellowfin tuna sales volume well above those of Skipjack tuna sales.

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Processed tuna sales (loins, steaks, etc.) reached €6.2m (against €12.8m in HY1 2014). This decrease
is due to two main factors:
- The Group's strategy evolution, which target is to improve the quality of its value enhanced products and therefore process only premium quality tuna, naturally led to a decrease in the volumes of its processed products,
- A weaker Yen compared to HY1 2014, makes the export of our loins to Japan less competitive which led to a strong reduction in sales volumes for this product.
However, the improved quality of our value enhanced products over the first semester, triggered an increase in the average selling price of our processed products.
SAPMER is dedicated to a strong improvement plan for its tuna activity, which includes better allocation of its fisheries to better value the quality of its premium processed tuna as well as its whole tuna.
SAPMER, committed to better fishing since 1947, fishes in the French Southern and Antarctic Territories (TAAF) and Indian Ocean, and offers amongst the noblest species, natural and premium quality sea products.

Next press release: 2015 first half results, 17 September 2015 before stock market opens

Contacts

SAPMER

Adrien de Chomereau - CEO - T: + (230) 40 59 700 - adechomereau@sapmer.com

Communication Department - T: + (262) 262 42 55 01- communication@sapmer.com

About SAPMER - www.sapmer.com

SAPMER is the historical deep-sea fishing operator in the waters of the French Southern and Antarctic Territories (TAAF) based on the island of Reunion. Founded in 1947, SAPMER now operates a wholly-owned fleet of four freezer-longliners for Patagonian Toothfish and a Freezer pot Lobster vessel for Rock Lobster and five tuna purse seiners (on board -40°C deep freeze) for its tuna fishing activity (Yellowfin and Skipjack) in the Indian Ocean.

Positioned on strong valued 'niche' activities, SAPMER is dividing its activities into two categories:

 A fishing activity which includes Toothfish and Rock Lobster sales fished in the Southern Seas (Economic Zones of the French Southern and Antarctic Territories - TAAF) and whole tuna sales (Yellowfin and Skipjack) fished in the Indian Ocean.

 A value-enhancing and processing activity (sashimi loins, steaks,…) of halieutic products.

SAPMER is listed on Alternext Paris - ISIN code FR0010776617 - ALMER

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