AquaChile in the red at the close of 2015

Published on
March 29, 2016

AquaChile closed out 2015 with a consolidated profit that amounted to USD 99.4 million (EUR 88.7 million) in losses, a stark contrast to the USD 1.4 million (EUR 1.3 million) in net profit that the company recorded in 2014.

Consolidated sales revenue for the Chilean salmon farmer in 2015 came in at USD 623.4 million (EUR 558 million), a 20 percent drop when compared to 2014. Meanwhile, consolidated EBITDA for the year ending on 31 December 2015 was recorded as a USD 57 million (EUR 51 million) loss, another dip when contrasted with 2014 figures – AquaChile posted a consolidated EBITDA of USD 78.4 million (EUR 70.2 million) in 2014.

Lower sales of Atlantic salmon, Pacific salmon, tilapia and trout were partially to blame for some of the variations, said AquaChile in its financial report. Declining prices in international sales were observed by the company, with salmonid species sales dropping 19 percent and tilapia sales dropping seven percent in international markets in 2015. Revenues for salmon and trout dipped by 22 percent year-on-year, according to the company.

Accumulated operating income before fair value adjustment with respect to the AquaChile’s salmon activity fell to a loss of USD 7.1 million (EUR 6.4 million), this in contrast to the loss of USD 2.4 million (EUR 2.1 million) observed the year before.

AquaChile’s financial debt recorded at the end of Q4 in 2015 was USD 302.6 million (EUR 270.9 million), an increase over the USD 275.8 million (EUR 246.9 million) in debt the company reported in 2014.

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