CFO at Australis: ‘Our financial debt was not well structured’

Salmon Business

Moisés Saravia, Chief Financial Officer at Australis, is honest about why the Chilean farmer decided to renegotiate debt.

Earlier this week it became known that Australis has renegotiated debt for USD 100M.

“Our financial debt was not well structured, with a large concentration of maturities in the short term. Then, we had to fit the duration of this with the duration of the assets of the business. Now, with this new structure, the company is in an unbeatable situation, with a low level of debt, a ratio of debt/Ebitda (earnings before interest, taxes, depreciation, and amortization) close to 1 and with a five-year maturity profile,” Moisés Saravia told Aqua

According to Sarvia the challenges ahead are to have more sustainable production and develop new markets.

The company estimates it will harvest between 60,000-65000 tonnes of fish this year and next year.