Chileans continue losing money
Despite the recent high prices, Chile's salmon producers have registered negative results in the first quarter of this year, with a EBIT for Atlantic salmon averaging around US$ -0.62 per kg.
This negative EBIT per kg is even worse than the average value recorded by the Chilean salmon companies listed in the local stock exchange in Q1 2015, which was US$ - 0.24. Likewise, is a worse than the overall value registered last year: US$ - 0.67.
Australis was the company with the most negative result in Q1 2016: an EBIT of US$ - 0.96 per kg of Atlantic salmon, while Blumar achieved the best result, US$ -0.43.
Most of the listed companies blamed the situation on decreased prices in Q1 2016 compared to Q1 2015, which were partially offset by increased sold volumes and reduced sale costs. However, Multiexport pointed to reduced sold volumes combined with lower average prices.
Despite this negative scenario, some companies - such as Australis, Blumar and Camanchaca - posted profits for Q1 2016, which are explained mainly due to fair value adjustments.
* Ebitda before fair value adjustments.
Source: Q1 2016 reports, Chile's securities and insurance regulator (SVS).
