Puerto Natales, Chile-headquartered salmon-farming firm AquaChile brought in net profits of USD 135 million (EUR 131 million) in 2024, surging 229 percent from 2023’s total of USD 41 million (EUR 39.8 million), according to consolidated results recently released by the firm’s parent company Agrosuper.
The salmon farmer’s operating revenue reached USD 1.66 billion (EUR 1.61 billion) for the year, up 10.3 percent compared to USD 1.51 billion (EUR 1.47 billion) in 2023. Its aquaculture segment achieved an EBITDA excluding fair value of USD 221 million (EUR 214 million), a 17 percent increase compared to 2023.
Agrosuper attributed the aquaculture segment’s better performance to the diversification of global markets for its coho salmon and higher average prices, among other factors.
The parent company also reported that capital expenditures for the aquaculture business reached USD 50 million (EUR 48.5 million) in 2024 – USD 27 million (EUR 26.2 million) of which was disbursed in the fourth quarter alone – versus capex of USD 39 million (EUR 37.8 million) in 2023.
During the fourth quarter of 2024, Agrosuper said that the Chilean industry as a whole experienced a slight contraction in harvest supply, leading to fluctuating fresh salmon fillet prices in the U.S., its largest market, while Brazil – AquaChile’s second largest market – continued to show robust demand. Demand for coho salmon was stable in all markets, according to the firm, with greater recovery seen in Japan.
In Q4 2024, salmon farming’s weighting in relation to Agrosuper’s overall revenues increased, reaching 38 percent from 36 percent one year previous, while the meat segment decreased to 61 percent from 63 percent.
Previously, AquaChile saw net profits of USD 29.6 million (EUR 28.7 million) during the first six months of 2024, compared to a net loss of USD 44.1 million (EUR 42.8 million) during the same period of 2023. AquaChile’s operating revenues in the period came in at USD 882 million (EUR 856 million), up 9.5 percent compared to USD 805 million (EUR 781 million) during the first six months of 2023.
