Invermar shares skyrocket at Santiago stock exchange

Salmon Business

Chilean salmon farmer Invermar generated a profit of US$28.4 million between January and September of this year.

This was more than seven times higher than the US$3.7 million recorded for the same period in 2016, reports Aqua.

Once the figures were known, Invermar’s shares were the second most profitable on Wednesday, November 29, at the Santiago Stock Exchange (BCS), with +6.38 percent, to $85,100 per share. So far this year the company had advanced by 27.97 percent, recording an adjusted book value of 79.85.

This positive result is due to an operating profit before fair value adjustment of US$37.7 million, of which US$12.3 million correspond to the third quarter (3Q) of 2017.

Analyzing only the salmon segment, EBIT without fair value adjustment accumulated at September 30 of this year was US$30.7 million; while with respect to the Ebitda without recognition of the fair value adjustment, it reached a value to September 2017 of US$37.0 million, which means a difference of US$30.5 million compared to the US$6.5 million generated in the same period of the previous year.

The consolidated accumulated sales up to September 2017, reached US$162.4 million, an increase of 55 percent, compared to the same nine months in 2016, where sales reached US$104.7 million.



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