Clearwater on Monday released its annual financial results and results for the fourth quarter of 2012 including sales growth of 5.3 percent compared to 2011.The company posted annual sales of CAD 350.4 million (USD 341 million, EUR 262 million) and EBITDA of CAD 72.2 million (USD 70 million, EUR 54 million), compared to CAD 332.8 million (USD 324 million, EUR 249 million) and CAD 61.2 million (USD 59.6 million, EUR 46 million) in 2011. This is the fourth consecutive year of improved results for Clearwater.
The growth is due to higher sales volumes, particularly of coldwater shrimp, as well as higher sales prices for most species.
Fourth quarter sales and EBITDA for 2012 were also up to CAD 93 million (USD 90.5 million, EUR 69.6 million) and CAD 18.8 million (USD 18.3 million, EUR 14 million), respectively, compared to CAD 87.1 million (USD 85 million, EUR 65 million) and CAD 16.1 million (USD 15.7 million, EUR 12 million) in 2011.
