Los Ángeles, Bio Bio, Chile-based Salmones Austral continued to see business recover in the third quarter of 2021 following what it called a “complex 2020.”
The company posted net profits of USD 14.6 million (EUR 12.9 million) during the first nine months of 2021, compared to USD 30 million (EUR 26.5 million) in net losses in the same period one year ago.
Sales rose 19.5 percent to 38,274 metric tons (MT) in the period spanning January through September, while top-line revenue increased 29.6 percent year-over-year to USD 187 million (EUR 165 million) during the first nine months of the year.
In a statement, the company credited the improved performance to a higher volume of coho salmon sold to Japan and a rebound in its average sale price, which reached USD 4.84 (EUR 4.27) per kilo whole-fish equivalent (WFE), compared to USD 4.33 (EUR 3.82) per kilo WFE in 2020. Salmones Austral Vice President Christian Samsing credited the latter to the international reopening of the hotel, restaurant, and catering sector.
However, the company saw cost of sales increase 18.7 percent to USD 176 million (EUR 156 million) due to higher volume sold and higher purchasing costs, leading to earnings before interest, taxes, depreciation, and amortization (EBITDA) of USD 12.2 million (EUR 10.8 million), versus a negative EBITDA of USD 4.9 million (EUR 4.3 million) during the first three quarters of 2020.
“Costs have increased significantly due to the operational disruption caused by the pandemic. This phenomenon has made transport and raw materials in the sector more expensive, such as food and energy, which has led us to double our efforts to keep costs at bay,” Samsing said.
Samsing said the firm's Los Arrayanes farming center, located in the Llaguepe sector in Chile's Los Lagos Region, will be operational soon, "which should help to considerably reduce our production costs as of 2022."
The company previously reported that during the first half of 2021, its EBITDA dropped 61.5 percent to USD 2 million (EUR 1.7 million). The company posted a net loss of USD 1.7 million (EUR 1.4 million) in H1 2021, compared to USD 12.6 million (EUR 10.7 million) in losses posted in the first half of 2020.
Photo courtesy of Salmones Austral
