Following up on a positive 2024, Chilean fishing and salmon-farming firm Camanchaca saw its profits jump 95 percent year over year during the first quarter of 2025, largely thanks to higher sales of frozen horse mackerel coupled with lower costs of operation in its salmon-farming division.
In the three-month period, the company’s top-line revenues inched up 1.4 percent to USD 218 million (EUR 193 million) from the USD 215 million (EUR 190 million) posted in the first quarter of 2024, as the higher horse mackerel sales helped to offset a 7 percent decrease in salmon sales.
Camanchaca’s Q1 2025 EBITDA before fair value jumped 80.6 percent year over year to USD 41.9 million (EUR 37.1 million), which was evenly split between its fishing and salmon divisions. The fishing division’s EBITDA contribution was 17 percent higher compared to one year ago, while the input from its salmon-farming division increased four times over from the first quarter of 2024.
Net profits for the quarter reached USD 12.5 million (EUR 11.1 million), compared to USD 6.4 million (EUR 5.7 million) posted in the first quarter of 2024. The company also highlighted that it had brought its net debt down to USD 151 million (EUR 134 million).
Broken down by business, the fishing division’s pelagic catches – including horse mackerel, mackerel, sardines, and anchovies – processed at the company's plants reached 173,000 metric tons (MT), which was 49 percent higher than the 116,000 MT processed in Q1 2024...
