Balfegó will close the season with a record turnover of 107 million euros.

The Sea AlmondThe Balfegó Group, specialized in the fishing and aquaculture of bluefin tuna from L'Ametlla de Mar, expects to close this fiscal year—the accounting year ends in April because it coincides with the fishing season, not the calendar year—with €107.6 million in revenue, 23% more than last year, when sales explained the growth for three reasons. First, the fact that the company sells more products with higher added value; second, the improvement in fishing quotas, which this year are expected to increase by another 20%.

The company, which employs 335 people, has sold 4,500 tons of bluefin tuna this year in 45 different countries and specializes in serving fine dining. They weren't so lucky when the storm Glory They released 95% of the specimens they had just before the onset of COVID. Now, fully recovered, they've invested 35 million in new 12,000-square-meter facilities. They currently have nine warehouses, two of which have also been refurbished. One is used to store food for the tuna, and the other is used to maintain the fishing nets. Between the new headquarters and both warehouses, the total investment is 43 million.

According to Serrano, the new factory is much more versatile. They will be able to be more productive, work double shifts, and work more safely. With the processing plant, they will be able to ship 25 tuna per hour and produce a box of between 3 and 7 kilos of tuna pieces every 8 seconds. Although it's a company known for its fresh produce, it also aims to improve its frozen food line, as well as its fourth and fifth ranges: from broths to tuna tartar and carpaccio, designed for restaurants with under-qualified staff.

Turbulence and boat skippers

For Serrano, the trade war and tariffs are "turbulences" that worry them. 38% of Balfegó's sales volume goes to the United States. The company's logistics allow a tuna caught today—they catch what's ordered daily on demand—to be delivered to a New York restaurant two days later. Furthermore, they ship the fattiest tuna, which is what the US market appreciates. "The tariffs hurt us. But it also impacts the Chinese market, because it devalues the yuan. We have 15% of the business there. If the currency goes down due to these turbulences, the Chinese see a rise in price, because we export in euros," Serrano explained.

On the opening day of the new facilities (solar panels, electric charging stations for cars, entrance to the rooms with facial recognition), Serrano recalled that they consider their cousins Pere and Manel Balfegó, presidents of the company and fifth generation of a fishing family, to be "good leaders."