Australis 2017 earnings triple, erase algae year 2016

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Chilean salmon farmer Australis Seafoods has posted a fourth-quarter EBITDA of USD 20.8 million, down USD 8.4 million year-on-year as record sales values were tempered by lower sales volume.

The result came on fourth-quarter revenues of USD 83.9 million that were down 6.9 percent year-on-year.

Australis said its EBITDA for all of 2017 came to USD 136.6 million, more than triple the result seen in 2016, a harvest year for Chilean salmon marred by algae blooms and mass fish deaths.

The company, which rears three types of salmon, harvested 12,900 tonnes of fish in the final three months of 2017, down 10 percent from the year-ago period. The fall in sales was offset by a 3.8 percent increase in sales prices.

The free-onboard price attained in the quarter was USD 6.47 US per kilogram versus USD 6.23 per kilo achieved in the same period of 2016.

Australis said it harvested 64, 819 t of salmon in 2017, up from the 53,754 t for the whole of 2016. Its sales income on the 60,000 t sold accrued in the year to USD 399.4 million.