Chilean fish farmer AquaChile posted an accumulated nine-month net profit of USD 33.7 million (EUR 28.6 million) as of the end of September, 2017 reversing losses in the same period last year, and is reportedly planning an expansion in its production during 2018.
According to a company presentation, the company reduced sales costs associated with all of its species and also registered good sales prices for salmon and trout during the third quarter of 2017.
Prices for Atlantic salmon were similar to the third quarter of 2016, but the accumulated average for 2017 is 40 percent higher for the nine-month period of 2016, the company reported. Trout prices went up seven percent year-over-year in the third quarter, and up 28 percent for the first nine months, the company said.
The profit represents a stark contrast to the same period last year, when AquaChile posted a USD 28.7 million (EUR 24.3 million) loss. For the third quarter of 2017, AquaChile’s net profits were USD 10.4 million (EUR 8.8 million) and consolidated sales USD 106.2 million (EUR 90.2 million).
Consolidated sales for the first nine months of the year have reached USD 423.9 million (360.1 million), a five percent increase over the same period last year. Operational costs for the nine-month period also fell 20 percent year-over-year.
In statements to local trade media SalmonExpert, AquaChile General Manager Augstín Ugalde said that the firm is planning an expansion in 2018. The firm expects to increase its harvest by 15 percent, reaching 96,065 MT of salmon and trout. This expansion would better use its 150 concessions and installed capacity by improving efficiency, Ugalde said.
Ugalde said AquaChile plans to achieve growth by organic means. During 2017, the firm completed a USD 15.2 million acquisition of salmon processor Salmones Chaicas.
