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


The main products of the volume marketed by Invermar are Atlantic and coho salmon.

Invermar reports strong fall in profits at end of third quarter

Click on the flag for more information about Chile CHILE
Friday, December 07, 2018, 00:50 (GMT + 9)

At the end of September 2018, Invermar presented operating income of USD 162.0 million, aligned with the same period of 2017, when the sales level reached USD 162.5 million.

EBITDA without fair value adjustment was USD 34.4 million, compared to USD 39.2 million recorded in the first nine months of 2017.

Financial and productive indicators

With respect to the third quarter of 2018, the company reported sales of USD 47 million, a figure that is 4 per cent higher than that obtained in the same period of 2017. In this quarter, Invermar made profits of USD 10.3 million, result representing USD 3.8 million less than in the same quarter of 2017.

  
Consolidated sales for September each year

As of September 2018, the company recorded earnings of USD 16.1 million, 43 per cent below last year’s result. This variation is strongly affected by the events of harmful algal blooms recorded in the first quarter, which had a negative effect of USD 5.2 million. The salmon segment contributed with USD 13.6 million and the oyster segment with USD 2.5 million, figures that are compared with profits of USD 24.2 million and USD 4.2 million, respectively, in the same period of 2017.

Sales by product January - September 2018

In the third quarter of 2018, Invermar reported a harvest of 23,144 tonnes WFE (whole fish equivalent), higher than the 20,298 tonnes in the same period of the previous year.

The volume sold totalled 15,031 net tonnes of final product as of September 2018, compared to 14,618 tonnes in the first nine months of 2017.

Sales distribution by product of Atlantic salmon

Accumulated consolidated sales as of September 30, 2018 reached USD 162 million, a level that is similar to that reported for the same period of the previous year, of USD 162.5 million. There was an increase in the oyster segment, with sales of USD 10.4 million, compared to USD 4.4 million obtained in the same period of 2017.

The gross profit margin before fair value as of September 2018 was USD 32.4 million, compared to USD 37.8 million in 2017. The salmon segment contributed with USD 28.6 million and the oyster segment with USD 3, 8 million.

Comparative export  figures 2017-2018 for Atlantic and coho salmon

The main products of the volume marketed by Invermar SA are the Atlantic salmon and coho salmon. While sales of Atlantic salmon accounted for 89 per cent of the volume sold in the third quarter of 2017, in the same period of 2018 this species represented 93 per cent of the sales mix of salmon; followed by coho salmon with 7 per cent, equivalent to 13,981 and 1,050 net tonnes, respectively.

Related article:

Invermar closes first quarter with losses due to harmful algae

[email protected]
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
India
Dec 12, 02:30 (GMT + 9):
Shrimp exporters voice concern over US import regulations
Chile
Dec 12, 02:20 (GMT + 9):
SONAPESCA files suit against SUBPESCA for fishery auctions
Canada
Dec 12, 00:30 (GMT + 9):
New measures to better manage aquaculture and protect wild salmon
Spain
Dec 12, 00:10 (GMT + 9):
Jealsa becomes a new IPNLF member
European Union
Dec 11, 23:30 (GMT + 9):
WWF urges EU Member states to meet CFP deadlines
Peru
Dec 11, 23:20 (GMT + 9):
11pct growth forecast for aquaculture exports
Spain
Dec 11, 22:30 (GMT + 9):
Andalusia allocates EUR 6 million to promote fishery and aquaculture product processing
European Union
Dec 11, 22:20 (GMT + 9):
EU Council of Ministers agrees on autonomous EU tariff quotas for 2019-2020
Chile
Dec 11, 21:20 (GMT + 9):
Artisanal fishermen seek to add value to sea cucumber
United States
Dec 11, 20:00 (GMT + 9):
IN BRIEF - Fishing industry wins EPA exemption for deck wash
Thailand
Dec 11, 20:00 (GMT + 9):
IN BRIEF - Fishing sector asks Govt to reconsider ratifying ILO Fishing Convention
United Kingdom
Dec 11, 20:00 (GMT + 9):
IN BRIEF - Luke Pollard: British fishers are being betrayed. Labour will defend coastal communities
Republic of Ireland
Dec 11, 20:00 (GMT + 9):
IN BRIEF - New Fisheries Protection Vessels mark launch of International Year of the Salmon
United Kingdom
Dec 11, 20:00 (GMT + 9):
IN BRIEF - Scottish Secretary welcomes bolstered Fisheries Bill and funding
United States
Dec 11, 20:00 (GMT + 9):
IN BRIEF - New warm ocean Blob could affect Southeast winter weather, fisheries



Lenguaje
FEATURED EVENTS
  
TOP STORIES
SNP and WWF sign cooperation framework agreement aimed at improving fisheries management.
Peru The National Fisheries Society and WWF Peru renewed their institutional cooperation framework agreement, in order to continue working to safeguard the biodiversity of the Peruvian sea and Manage fisheries better and better.
EU Council backs Post-Brexit tariff rate quota agreement
European Union EU ambassadors in Coreper endorsed a deal with the European Parliament on the draft regulation setting the new quotas to be applied after Brexit in respect of a number of agricultural, fish, industrial and processed agricultural products.
Tesco directors acussed of fraud deemed not guilty
United Kingdom Two former Tesco directors have been acquitted of charges of fraud and false accounting at Britain’s biggest retailer after a 2014 scandal.
Pacific leaders strengthen fight against IUU fishing
United States The organisation Parties to the Nauru Agreement ensures that IUU fishing in the Western and Central Pacific Ocean is being targeted as never before following calls by Pacific Leaders to put an end to this practice.
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
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
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
Marona S.A.
Mowi ASA (formerly 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