Welcome to FIS   Sponsored By
United States
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
Fiji
Jul 17, 03:30 (GMT + 9):
Fiji joins international treaty against IUU fishing
United States
Jul 17, 02:30 (GMT + 9):
Louisiana shrimp industry supports tariffs on Chinese imports
India
Jul 17, 02:00 (GMT + 9):
IN BRIEF - Potential of blue revolution (fish production) in J&K
India
Jul 17, 02:00 (GMT + 9):
IN BRIEF - Formalin hits fish sales
India
Jul 17, 02:00 (GMT + 9):
IN BRIEF - Formalin in fish: Food safety officers told to collect samples for quality check
India
Jul 17, 02:00 (GMT + 9):
IN BRIEF - State Awaits Fish Test Result
India
Jul 17, 02:00 (GMT + 9):
IN BRIEF - Hirakud fish supply to Kolkata to be stopped
Viet Nam
Jul 17, 02:00 (GMT + 9):
IN BRIEF - Funds allocated to preserve Lý Sơn Marine Protected Area
United States
Jul 17, 02:00 (GMT + 9):
IN BRIEF - Shrimp industry fears worker shortage
Australia
Jul 17, 02:00 (GMT + 9):
IN BRIEF - Keay pushes Tasmanian seafood country of origin labelling trial
United Kingdom
Jul 17, 02:00 (GMT + 9):
IN BRIEF - ‘Hard Brexit is best for fishermen‘
China
Jul 17, 02:00 (GMT + 9):
IN BRIEF - Crayfish raising: way of ecological aquaculture promoted in E China's Jiangsu
Peru
Jul 17, 01:50 (GMT + 9):
Arequipa’s DPA enabled for fish unloading for national and international market
India
Jul 17, 01:30 (GMT + 9):
Commerce Ministry readjusts orders antidumping duty on Indian shrimp
Australia
Jul 17, 00:40 (GMT + 9):
Bay lobster aquaculture to be developed in Tasmania



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Well-cooked fresh fish not running risk of producing anisakiasis
Spain Following the recent appearance of several cases of anisakis infestation in humans after the intake of frozen fish, the associations of the Spanish fishing sector, CEPESCA, tries to calm Spanish consumers.
Illegal salmon nets seized in Donegal
United Kingdom Inland Fisheries Ireland has seized 26 untagged salmon in the Glenties area in Donegal and 1100 yards of illegal salmon drift nets off Inishbeg Island.
Post-Brexit UK's fishing proposals promote sustainability
United Kingdom The UK government has released its proposals for the future trade with the European Union after leaving the bloc, next March.
Hvalur hf accused of slaughtering blue whale, angering marine conservationists
Iceland An Icelandic anti-whaling group has accused company Hvalur hf of slaughtering an endangered blue whale in the fjord of Hvalfjordur, which sparked anger among marine conservationists.
 
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