Cost-control, high salmon prices help Salmones Austral reverse losses

Chilean fish farmer Salmones Austral has reversed its loses in the first-half of 2022, a recovery attributed to effective cost management and the strong salmon prices.

At the end of June, the company recorded revenues of $147.2 million, up 5.7 percent compared to the same period of the previous year, while EBITDA reached $27.3 million, up from the negative EBITDA of S$1.7 million in the first half of 2021.

Salmon reached $5.90 per kilo WFE in the first half of 2022, up from $4.52 per kilo during the same period last year. This boosted sales to $119.3 million although volume sales fell 19.7 percent to 24,463 MT.

“While higher salmon prices contributed to the good results, the most notable thing is that our efforts to proactively manage costs paid off,” said Christian Samsing, vice president of Salmones Austral.

He is optimistic that the industry will “maintain its solid performance, with good prices and lower costs,” based on current trends of stabilizing costs of farming.

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