100 percent of the company’s quota was caught, despite of operational challenges, such as fishing bans and closing of ports during approximately 22 days.

Revenues as of September 30th 2012 were USD 264.9 million and EBITDA was USD 90.1 million (representing 34 percent of net sales).

Copeinca owns 31 purse seiners with a total hold capacity of 11,000 cubic meters; additionally it owns 20 vessels equipped with RSW Systems to capture fish for human consumption that have a total capacity of approximately 7,000 TM

11,900 MT of mackerel and jack mackerel were caught, representing approximately 10 percent of market share.

As of September 30th 2012, the CAPEX budget was increased by USD 5.0 million totalling USD 20.0 million for the year.

On September 27th 2012, Copeinca was certified by Friend of the Sea Sustainable Seafood, which is an organization for certification of sustainable seafood from fisheries and aquaculture.

Copeinca employs over 1,400 part and full time people

On October 29th PRODUCE, the Peruvian Ministry of Production's Fishing Vice Ministry, the entity that executes and directs the sector's policies to guarantee the rational management of fishing resources and preservation of the environment, issued resolution 457-2012 authorizing the start of the second fishing season on November 22nd at 00:00 hours in the area between the centre - north area of Peru (North of 16th parallel).

Copeinca ASA operates 5 plants located in strategic locations all around the Peruvian coast line

The maximum allowable catch limit of anchovy for indirect human consumption for the second fishing season is 810,000 MT, which will be divided in two parts:

• 410,000 MT from November 22nd. It will end once the maximum allowable catch limit is reached otherwise on December 31st.
• 400,000 MT from January 1st 2013. It will end once the maximum allowable catch limit is reached otherwise on January 31st.

These dates may be extended according to the biological environment, prior report from the Instituto del Mar Peruano, IMARPE.

About Copeinca ASA

Copeinca is dedicated to the extraction, production and commercialization of fishmeal and fish oil

Copeinca ASA is one of the largest fishmeal and fish oil producers in Peru. The Company produces its fishmeal and fish oil from anchovy harvested off the coast of Peru, and most of its production is exported.

Key countries for export are China, Japan, Germany, Canada, Chile and Denmark. Typical customers are fish and animal feed producers as well as refineries for omega-3 products. Copeinca ASA runs its operations out of Lima and has its own fleet.

Copeinca ASA operates 5 plants located in strategic locations all around the Peruvian coast line. The company has around 1,400 part and full time employees.

Source: Copeinca ASA

Margaret E.L. Stacey
Editor Companies and Products
editorial@fis.com
www.fis.com