Clearwater saw continued strong growth in 2013, with sales up 10.9 percent to CAD 388.7 million (USD 348.9 million, EUR 255.1 million) compared to 2012 and EBITDA up 9.5 percent to CAD 79.1 million (USD 71 million, EUR 51.9 million).
The Canadian company attributed the increase in sales to strong sales volumes for scallops and snow crab. Higher total allowable catch levels increased catch rates for scallops that increased available supply. In addition, strong market demand increased sales prices for sea scallops, shrimp, snow crab and offshore lobster also contributed to the increase in sales.
The company also announced a plan to invest CAD 45 million (USD 40.4 million, EUR 29.5 million) in a third clam vessel to expand its supply share to 60 percent.
For the fourth quarter of 2013, the company’s sales were CAD 111 million (USD 99.7 million, EUR 72.9 million), up from CAD 92.9 million (USD 83.4 million, EUR 61 million) during the same quarter in 2012. EBITDA was CAD 22.3 million (USD 20 million, EUR 14.6 million) compared to CAD 18.8 million (USD 16.9 million, EUR 12.4 million) in 2012.
“In 2013 Clearwater made major strides in the North American retail market. We gained distribution at several major Canadian and U.S. retailers,” the company said.
