Chile’s leading salmon and trout producer, AquaChile, is celebrating two distinct milestones with the number 11 a seemingly lucky one for the company: It registered an 11 percent sales increase in the first half of 2012 while ranking as the 11th most transparent company in the country, according to Corporate Transparency’s ranking of 100 companies in August.
With harvests of Atlantic salmon, Pacific salmon and trout reaching 38,000 gross metric tons, in addition to 11,000 gross metric tons of tilapia, the company registered sales of USD 258 million during the first six months of 2012 — up 11 percent on the same period 2011. The increase is largely attributed to good production performances in its Costa Rica and Panama businesses before adjustments for fair value biomass (energy converted when aquaculture microorganisms are broken down).
The positive figures disguise a downside, however. Despite the year-on-year sales increase, the company actually registered a financial loss of USD 15.7 million in the first half of 2012 due to lower export prices resulting from increased global supply of salmon and the net effect of fair value biomass.
The company expects salmon prices to recover as the industry as a whole has slowed the pace of breeding while Chilean salmon prices currently lag behind those of other salmon producing countries. AquaChile predicts salmon supply to grow at a significantly lower rate than in 2012 in line with demand growth, finally recovering its price when compared with other animal proteins.
These latest AquaChile statistics contribute to its high ranking as one of Chile’s most transparent companies. Ranking alongside prominent brands including Banco Santander and BCI Credit and Investment Bank, AquaChile was applauded for its higher-than-average international standards, commercial transparency policies, respect for the environment and active relationship with its workers and communities while meeting the highest requirements in response to global demands.
“We are proud that our day-to-day efforts to deliver quality information to the market and the community are recognized. We will continue working to maintain this transparency policy so necessary in today's world,” said Alfonso Marquez de la Plata, CEO.
