Chilean fishing and salmon-farming firm Camanchaca saw its after-tax profit jump to USD 22 million (EUR 20.3 million) for the full year 2024, quadrupling the USD 5.4 million (EUR 5 million) it posted in 2023 thanks to strong performances in both its fishing and salmon-farming divisions.
“Our focus on quality, efficiency, and scale is paying off and the 2024 numbers prove it,” Camanchaca CEO Ricardo García Holtz said.
He credited the company’s healthy profitability to its fishing and salmon divisions recovering from a poor 2023, coupled with obtaining the most added value from raw materials and “efficient” back-office support.
When compared to 2023, full-year 2024 revenues increased 7 percent to USD 813 million (EUR 752 million). The company’s EBITDA increased 18 percent year over year to USD 106 million (EUR 98 million), of which 53 percent came from the Fisheries Division which reached USD 56 million (EUR 51.8 million), similar to that of 2023. The remainder came from its Salmon Division which reported an EBITDA of USD 51 million (EUR 47.1 million), 45 percent higher than the USD 35 million (EUR 32.3 million) reported in 2023.
As previously reported by its salmon-farming division, in 2024 Salmones Camanchaca harvested 47,661 MT WFE of Atlantic salmon and sold 49,365 MT WFE, up 8 percent and 15 percent, respectively, when compared to 2023. Revenues for the year increased 14 percent to USD 405 million (EUR 374 million), compared to the USD 354 million (EUR 327 million) posted in 2023, mainly due to higher volumes sold,but partially offset by a 6 percent year-over-year drop in average prices of Atlantic salmon and a 16-percent fall in coho prices...
