Due to strong Atlantic salmon export returns, Chilean salmon producer Australis Seafoods SA has reported a net profit of USD 27 million in the first half of 2011, up from just USD 5.9 million during the same period last year.
Company CEO Andrew Saint Jean said the results could be attributed to FOB revenue reaching USD 90.7 million, with EBITDA of USD 33.9 million and a profit of USD 27.0 million.
Those figures were fourth place among the ranking of returns from Atlantic salmon exports and the recovery of all Chilean salmon stocks.
The company said production of 22.5 million units of Atlantic salmon eggs during the summer season raised production from the originally planned 15 million.
“We exceeded our expectations for production and sales reaching fourth place in the export of Atlantic salmon while also completing the acquisition of a processing plant in Puerto Chacabuco, Aysen Region. This in addition to the purchase of fish farms Ignatius and the slopes, strengthened the freshwater plan proposed,” said Saint Jean.
For the second quarter of the year, compared to the same period in 2010, revenue rose to USD 42.2 million, up from USD 8.7 million. EBITDA increased to USD 16.3 million, up from USD 1.9 million.
Net profits reached USD 11.2 million, up from USD 1.7 million during the second quarter of 2010.
