Welcome to FIS   Sponsored By
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Camanchaca processing facilities. (Photo: Camanchaca)

Camanchaca’s profits grow 34pct through September

Click on the flag for more information about Chile CHILE
Friday, November 10, 2017, 00:50 (GMT + 9)

Camanchaca reported that between January and September of this year it obtained a profit of USD 21.2 million, 34 per cent higher than in the same period of 2016, which was USD 15.8 million.

The EBITDA showed an even more favorable evolution, changing from USD 15 million in the first nine months of 2017 to USD 42.2 million this year.

The company indicates that this evolution of its results accounts for a context of oceanographic normalization this year, against the most acute moment of El Niño phenomenon that was experienced at the beginning of 2016.

Camanchaca highlighted the positive influence of salmon prices, which rose 33 per cent, and lower harvest costs, which fell 11 per cent.

Meanwhile, salmon volume sales declined by 43 per cent. This decrease was attributed to the company's decision to reduce the stockings at two farming centres in 2015, whose impact was reflected in the first half of 2017 in lower harvests, and to the lower inventories at the beginning of 2017 due to the salmon lost in the harmful algae episode of 2016.

The salmon business generated a profit of USD 26.2 million and a positive net effect on the "fair value" (FV) of USD 8 million.

The impact of the largest catches in northern Chile was also positive, reaching 61,000 tonnes, more than three times what was caught through September 2016. These catches are the largest of the last five years for this period, and they allowed Camanachaca to reduce fishmeal and fish oil production costs, and increase sales.

The company's total consolidated revenues fell 9.5 per cent to USD 328 million, as a result of a 19.5 per cent fall in salmon revenues, an 18.5 per cent increase in fishing revenues and an increase of 1.2 per cent in those of Harverts.

The fall in Salmon is the combination of 42.5 per cent less in the volumes sold and 32.8 per cent better prices. Fisheries revenues, once El Niño conditions were normalized, were favourably affected by better catches and materialization of sales of their products, but affected by lower prices.

This evolution of Revenues generated USD 36.5 million of EBITDA in Salmon and USD 6.6 million in Fishing, leaving a consolidated EBITDA before FV of USD 42.2 million.

The Fishing loss was USD 3.3 million, lower than that registered in the nine months of 2016, which was USD 7.2 million. This result occurs in a context of higher catches in all pelagic fisheries, but with sharp falls in fish oil prices (-26.2 per cent), fishmeal (-12.8 per cent), canned horse mackerel (-10, 5 per cent) and frozen horse mackerel (-8.9 per cent).

In the combination of these products, lower prices had a negative impact of USD 13 million on the results of the first nine months.

[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Ecuador
Apr 26, 22:30 (GMT + 9):
Progress achieved towards integral aquaculture development
Spain
Apr 26, 21:40 (GMT + 9):
Nueva Pescanova expands capital in new aquaculture technology centre
South Africa
Apr 26, 02:50 (GMT + 9):
Sea Harvest getting closer to buy Viking Fishing assets
European Union
Apr 26, 02:30 (GMT + 9):
Spanish tuna fleet proposes the EC to implement its standard for fish imports
Belgium
Apr 26, 02:20 (GMT + 9):
New organisation to address gaps in aquaculture and fisheries certification
Spain
Apr 26, 01:40 (GMT + 9):
MARE to monitor bivalve mollusk production areas in Cantabria
Thailand
Apr 26, 01:20 (GMT + 9):
Thai Union increases stake in aquaculture feed subsidiary
Belgium
Apr 26, 01:00 (GMT + 9):
IN BRIEF - SFP announces new octopus FIP in Mauritania
China
Apr 26, 00:10 (GMT + 9):
JD.com commits to supplying BAP certified aquaculture products
Spain
Apr 25, 23:40 (GMT + 9):
Galicia would lose EUR 533 million if its fleet stops operating in Gran Sol
Chile
Apr 25, 23:30 (GMT + 9):
BioMar starts its R&D second year in ATC Patagonia
Spain
Apr 25, 22:40 (GMT + 9):
European project to contribute to European eel and habitat recovery
United Kingdom
Apr 25, 22:30 (GMT + 9):
IN BRIEF - Hard Brexit would mean more and cheaper British fish – but there's a catch
United Kingdom
Apr 25, 22:00 (GMT + 9):
IN BRIEF - Post-Brexit hygiene checks will leave British fishermen all at sea
United States
Apr 25, 22:00 (GMT + 9):
IN BRIEF - Baby eel fishermen on track to catch quota after short years



Lenguaje
FEATURED EVENTS
  
TOP STORIES
UK fishing firm to appeal against South Atlantic fishing licence decision
United States The High Court determines that a British firm will be able to appeal a controversial decision of the UK Government to hand lucrative fishing licences in the South Atlantic to foreign firms.
New attempt to unlock shrimp entry to Brazil
Argentina An Argentine delegation visited Brazil with the purpose of progressing in the negotiations for the Argentine shrimp to be commercialized again in the Brazilian market.
Over 100 kilos of eels destined to Hong Kong intercepted
Spain The Civil Guard conducted another seizure of eels that were to be illegally marketed. This time there were 113 kilos of elvers intercepted at Barajas Airport that were destined for Hong Kong.
Taiwanese fishermen argue EU imposes stricter rules due to protectionism
Taiwan Local fishermen have expressed complaints about the requirements imposed by the European Union on Taiwanese fisheries, which, in their view, are unreasonable.
 
Maruha Nichiro Corporation
Nichirei Corporation -Headquarter-
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation -Wartsila Group Headquarter-
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
Blue Continent Products (Pty) Ltd - (Oceana Group Limited)
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods Inc. -Headquarter-
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO -Food and Agriculture Organization- Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Omega Protein Corporation -Headquarter-
Marona S.A.
Marine Harvest ASA - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation -Headquarter-
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
INVE Group - Head Office
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
Morpol ASA - Group Headquarters
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2018 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER