Chilean industrial fishing and salmon-farming firms closed the first half of the year positively as several companies in the South American country focused on streamlining operations in the period.
Chilean fishing and salmon-farming company Blumar’s net income came in at USD 30 million (EUR 25.6 million) during the first half of the year, surging 442 percent when compared to the USD 5.5 million (EUR 4.7 million) it posted for the first six months of 2024.
The company said that of total profits for the first half of 2025, USD 21 million (EUR 17.8 million) corresponded to its fishing segment and USD 9 million (EUR 7.7 million) came from its aquaculture segment, compared to net profits of USD 33.9 million (EUR 28.9 million) for the fishing segment in H1 2024 and a net loss of USD 28.4 million (EUR 24.2 million) from the aquaculture segment, which was affected by lower harvest volumes due to an algal bloom in Q1 2024.
The company’s H1 consolidated operating income totaled USD 405 million (EUR 346 million), which was up 35 percent when compared to the same period of 2024. Blumar credited the increase to higher salmon sales volumes of over 36,161 metric tons (MT) whole fish equivalent (WFE), surging 119 percent when compared to volumes sold in the first half of 2024. Meanwhile, in its fishing segment, Blumar saw an 18 percent decrease in revenues, led by lower sales of fishmeal and fish oil, which were down 19 percent and 96 percent year over year, respectively.
Blumar recently announced that it would file legal action against the Chilean government after the Senate voted a new fishing quota bill into law in June to replace the nation’s previous fishing law. The government is looking to reduce quotas allocated to industrial fishing firms while increasing artisanal quotas for species such as anchovies, Spanish sardines, horse mackerel, and common hake.
Another fierce critic of the fishing quota law has been fellow industrial fishing and salmon-farming firm Camanchaca.
In its H1 results, CEO Ricardo García said the main threat facing the company comes from salmon regulations and fishing legislation promoted by the Chilean government.
Nevertheless, for the first half of 2025, Camanchaca’s net profits reached USD 30 million (EUR 25.6 million), which marked an 8 percent increase compared to the USD 28 million (EUR 23.9 million) posted in H1 2024.
“The recovery of the company's performance is a reflection of the systematic work carried out over years to make our processes more efficient, but without losing effectiveness, and allow us to be prepared to take advantage of opportunities and face risks,” García said.
Consolidated revenues in the first half slipped 5 percent year over year to USD 425 million (EUR 363 million), mainly due to a 12 percent decline in Salmon division revenues, which posted revenues of USD 221 million (EUR 189 million). The firm attributed this to lower harvests and sales of coho salmon, which the company has decided to scale back until it sees market improvements.
On the other hand, the firm’s harvest of Atlantic salmon reached 24,038 MT WFE in the first six months of 2025, which was 12 percent higher than the 21,544 MT WFE harvested in the same period of 2024. Average prices remained in line with the previous year at USD 8.08 (EUR 6.90) per kilogram, while costs fell 13 percent during the period to USD 4.44 (EUR 3.79) per kilogram WFE, driven by a decrease in feed costs, greater operational efficiencies, and good fish health, according to the firm.
The firm’s Fisheries business reported revenues of USD 180 million (EUR 154 million) during the first six months of 2025, which was in line with the same period of 2024. This year’s H1 performance included an increase in sales volumes of fishmeal and frozen horse mackerel, but these were offset by lower sales of fish oil and canned mackerel.
Elsewhere, Chilean salmon-farming firm Multi X reported net profits before fair value adjustment of USD 16.3 million (EUR 13.9 million) during the first six months of the year, representing a jump from a net loss of USD 12.8 million (EUR 10.9 million) recorded in the first half of 2024.
Operating income for the firm reached USD 436 million (EUR 372 million), which was 28 percent higher year over year. The company credited this spike to increased sales volumes of Atlantic salmon, which were up 26.4 percent to 54,442 MT WFE, coupled with a higher average sales price compared to the same half in 2024.
Ex-farm costs averaged USD 4.82 (EUR 4.12) per kilogram WFE for the first half, decreasing 4.9 percent year over year thanks to lower mortality and a higher average weight, a downward trend in feed prices, and reduced expenses.
Previously, Puerto Natales-headquartered salmon-farming firm AquaChile reported that net profits surged nearly 300 percent year over year in the first half of 2025 thanks to better operational performance and higher international prices.
