Multi X leaps into the black in Q1 2025 with record-high revenue

A Multi X employee holding a farmed salmon
The positive Q1 2025 followed a difficult 2024 for Multi X, which featured a nearly 20 percent drop in revenue | Photo courtesy of Multi X
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Chilean salmon-farming firm Multi X reported record first-quarter revenue in the first three months of 2025, hitting USD 222 million (EUR 195 million) and representing a surge of 33.7 percent compared to the USD 166 million (EUR 146 million) posted in the first quarter of 2024.

The jump in revenue helped the firm record a net profit of USD 5.2 million (EUR 4.6 million), including fair value, in the period, compared to a Q1 net loss of USD 9.4 million (EUR 8.3 million) posted in 2024.

The company’s Q1 EBITDA, before fair value, also rose nearly four-fold to USD 31.1 million (EUR 27.4 million) year over year.

Multi X's Atlantic salmon harvest volume reached 27,701 metric ton (MT) whole fish equivalent (WFE) in Q1 2025, jumping 76.8 percent from the 15,665 MT WFE harvested during the same period in 2024. That was accompanied by a sales volume of 27,383 MT WFE, marking an increase of 31 percent year over year.

The average weight of salmon harvested was 4.74 kilograms WFE during Q1, which was higher than the 4.37 kilograms WFE registered in the same period a year ago. Mortality decreased from 15.1 percent to 14.3 percent year over year, as well...


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