AquaChile, Chile’s largest salmon farmer and the second-largest salmon-farming company in the world, has published its 2021 Integrated Report, showcasing an increase in its top-line income and a decrease in operating costs.
In 2021, the company saw a 3.9 percent boost in top-line income from 2020, reaching USD 1.18 billion (EUR 1.09 billion), while operating costs were brought down 11.9 percent to USD 1.03 billion (EUR 95.3 million). That led to a net profit of USD 62.9 million (EUR 58.2 million) in 2021 versus a net loss of USD 26.6 million (EUR 24.6 million) in 2020.
“The year 2021 was a period full of achievements and challenges for our company. It was once again marked by the pandemic, which began with low demand, logistical restrictions, uncertainty, and health problems typical of summer in Chile,” José Guzmán, chairman of the board at AquaChile, said in the report. Guzmán was referring to algae blooms that have affected Chile’s salmon farmers in the Southern Hemisphere’s summer. “However, slowly the markets were activated, we were able to reach all our clients, and the productive teams were able to focus on the operation.”
In 2021, the company harvested 202,196 metric tons (MT) whole-fish equivalent (WFE), feeding more than 150 million people a month in more than 50 countries. Of its total sales, 94.2 percent were abroad, led by the U.S. (40 percent), Japan (20 percent), Brazil (14 percent) and Russia (7 percent). Other markets including China, the European Union, and Colombia, each representing 2 percent of Chile's export total.
The company said it has 1,044 clients, broken down into 608 distributors, 201 supermarkets and retailers, 44 in foodservice and HORECA (hotel, restaurant, and catering) companies, and 191 reprocessors and smokers. In the international market, distributors represented 62 percent of the company’s sales, followed by reprocessors and smokers at 25 percent, 10 percent in the supermarket and retail space, and 3 percent in service and HORECA.
The company's report also highlighted changes it made to make its packaging more sustainable, with 39 percent of its packaging now coming from recycled or renewable materials. It also had a 120 percent increase in the reuse or recycling of non-hazardous materials.
Other sustainability efforts include shifting its energy sources, with 90.5 percent of its power supply now coming from renewables – leading to a 26 reduction in Scope 1 and 2 carbon emissions. The company also reduced its consumption of fresh water, using 19.5 percent less in 2021 compared to 2020.
AquaChile recently completed the divestiture of its tilapia operations in Costa Rica, selling its subsidiary Grupo ACI to Costa Rica’s AquaFoods Group for USD 6 million (EUR 5.4 million), representing a loss of USD 36.4 million (EUR 33 million). The company said the move was made to allow it to concentrate fully on salmon production.
Photo courtesy of AquaChile
