AquaChile turns it around in 2Q 2014
Salmon farmer AquaChile’s 2Q 2014 figures show major improvements compared to the same period last year, due in large part to higher prices and sales margins.
Earnings before interest, taxes, dividends and acquisitions (EBITDA) totaled USD 15 million (EUR 11.6 million), compared to the USD -11.9 million (EUR 9.2 million) reported for the same quarter in 2013. Margin EBITDA was 8.8 percent, up from the -6.2 percent recorded in 2Q 2013.
Overall, the company reported a net loss of USD 5 million (EUR 3.9 million), but this is an improvement over the USD 27.9 million (EUR 21.6 million) in losses recorded in 2Q 2013.
While consolidated sales reported an 11 percent drop compared to last year, AquaChile reported increases in sales prices for all species “partially compensated.” The company said growth is now normal among stocks, and average harvested fish weights are up, due to “sanitary and productivity improvements.”