Chilean salmon-farming firm Salmones Camanchaca posted net profits of USD 3.2 million (EUR 2.7 million) in the second quarter of 2026, marking a 50 percent drop compared to USD 6.4 million (EUR 5.4 million) posted in the same quarter of 2025.
Top-line revenues in the period increased 35 percent year over year to USD 94.6 million (EUR 810 million), with higher volumes sold from inventories of both Atlantic salmon, up 36 percent; and coho, the volume of which tripled year over year, the company announced in its quarterly results report.
Though revenue increased, the cost of goods sold expanded 36.5 percent year over year to USD 79.6 million (EUR 68.2), and the company also dealt with increased administration and distribution costs. A USD 2.6 million (EUR 2.2 million) hit in fair value for the quarter, compared to a USD 4 million (EUR 3.4 million) fair value boost in Q2 2025, also took its toll.
The firm’s total harvest for the quarter reached 10,400 metric tons (MT) – a 9.4 percent decrease compared to the same period in 2025.
Other costs that affected the firm included whole fish equivalent (WFE) ex-cage costs that rose 6 percent in the quarter to USD 4.62 (EUR 3.96) per kilogram. Meanwhile processing costs rose 22 percent to USD 1.46 (EUR 1.25) per kilogram WFE.
Higher sales volumes partially offset the lower harvest, but prices of Atlantic salmon fell 9.9 percent to USD 6.47 (EUR 5.54) per kilogram of WFE in the three-month period, Salmones Camanchaca said.
“We did not expect the [nearly] 10 percent drop in prices due to much greater volume harvested in Norway and Chile,” Salmones Camanchaca Ricardo García said in a release. “With that, we [now] project zero growth for the second half of the year, when we expect a strong increase in harvests and sales.”
The company also noted that it recorded no extraordinary mortalities during Q2, but salmon rickettsial syndrome events recorded at two farming sites during Q1 led to a USD 2.8 million (EUR 2.4 million) hit.
García recognized that the first six months of the year were “challenging,” with health problems and international trade altering harvest plans while also impacting volumes and costs.
One benefit for the firm came in the form of extraordinary revenues totaling USD 7.4 million (EUR 6.3 million), which were recognized in June corresponding to a refund of U.S. tariffs for exports made between April 2025 and February 2026.
Regarding annual projections, the company said it maintains its estimate of reaching Atlantic salmon harvests in a range of 58,000 MT WFE to 60,000 MT, as well as 4,000 MT to 5,000 MT of coho, for the year.
