Russia is one of the largest markets in the world in terms of fish consumption per capita, while the aquaculture segment still has significant potential for further growth.
INARCTICA’s share of the Russian market is 22%.
INARCTICA’s share of the market for all farmed salmon raised in Russia is over 65%.
The Barents Sea is among the few vacant and accessible areas in the world for raising Atlantic salmon, and in Russia it is the only area suitable for year-round ongrowing of Atlantic salmon and sea trout.
While we continue to increase the number of our sites in this unique region, we are always on the lookout for opportunities to acquire new sites and further expand INARCTICA's production capacity.
Freshness is our priority. With our operational efficiency, advanced harvest technologies and robust logistics system, we can bring our fish to St. Petersburg stores within two days after it leaves the farm. Customers in Moscow will get it on the third day, and those in remote Krasnoyarsk will receive our product in just four days.
Our approach to production processes:
Diversify our biological assets using clusters that combine salmon and trout farming
Fully comply with global fisheries standards at all stages of our business model
Process, analyze and use our extensive biological risk management experience for continuous improvement
INARCTICA is a vertically integrated company. Our assets enable quality control at all stages of production:
Equipment stock for farms:
- Ten farms (equipped with fish cages and feed barges)
- Three live-fish carriers
- Two cargo vessels for transporting feed
- Service vessels and personnel carriers
A processing plant in Murmansk that is in compliance with MSC and ASC international standards
The Company’s own smolt plants
Our vertically integrated business model enables us to greatly reduce costs and, as a result, increase operating efficiency, which makes INARCTICA the leading publicly traded Company in the aquaculture market in terms of EBIT/kg. For 9M 2021, EBIT/kg was EUR 2.1.
In 2017, during our SPO, we announced our strategy to 2022 and have been successfully implementing it ever since.
Declared targets Results achieved
Increase production to 25,000–30,000 tons (from 5,000 tons in 2016)
In 2021, production amounted to 32,500 tons.
Increase revenue to RUB 10 billion (from RUB 2.5 billion in 2016)
In 2021, revenue amounted to RUB 15.9 billion.
Increase market share to around 25% (from 8% in 2016)
As of the end of 2021, our market share was 22%.
High level of financial stability
Net debt / adjusted EBITDA ratio at the comfortable level of 1.72x (9M 2021). The Company’s credit rating from the rating agencies NCR and ACRA is A- with a positive outlook.
The Board of Directors has a Sustainability Committee, which systematizes sustainability practices and integrates them into INARCTICA’s development strategy.
The Company’s processing facilities are certified according to MSC and ASC standards. The MSC standard confirms that INARCTICA’s operations ensure the conservation of the marine environment, the sustainability of fish stocks as well as effective and sustainable fisheries management. The ASC standard indicates that the Company ensures the sustainability of the aquaculture industry and has a controlled impact on ecosystems.
Regular dividend payments
The Company pays out dividends provided no biological risks materialize and the Company successfully executes its growth strategy and maintains a stable financial position.
High standards of corporate governance
Six of the eight members of the Board of Directors are independent, and they chair the Strategy, Audit, and Nomination and Remuneration committees.