Salmones Camanchaca has joined the ranks of Chile’s top moneymakers in May on the back of the premium prices it fetched for its salmon harvest in Q1 2022.
The salmon farmer ranked fourth in the Santiago Stock Exchange’s monthly list of Chile’s Top 20 companies with the highest returns in the stock exchange. With a return of 45.42 percent, the company surpassed Chilean telecom giant Almendral and other heavyweights: investment company Oro Blanco and Masisa, a supplier of wood board products for the furniture industry.
The May ranking, first reported by Salmonexpert, cements Salmones Camanchaca’s reversal of fortune from the same quarter a year before, thanks to the 34-percent increase in salmon prices in Q1 2022 versus Q1 2021. The company said this made up for the 11.5-percent decline in sales volumes in Q1 2022 to 8,108 MT WFE and reduced average weight.
It saw Q1 2022 EBITDA recover to US$7.4 million from negative US$3.7 million in Q1 2021. The company’s Q1 2022 results published earlier can be found here.
Its estimates of harvest volumes for 2022 will remain between 51,000 and 54,000 MT WFE, comprising 45,000-47,000 MT WFE of Atlantic salmon and 6,000-7,000 MT WFE of Coho salmon, the company said.