Earnings rise almost six-fold as AquaChile expands harvest volumes

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Latest figures after salmon farmer aquired Chilean Antarctica sites in August.

According to its Q3 report, EBIT grew 483.3% to USD 24.6 million, up USD 4.2 million when compared to Q3 2017. The rise in EBIT is due to increased harvesting volumes.

Increase in volume expanded by 16,845 thousand tonnes. EBIT/per kg WFE (whole fish equivalent) was nearly doubled from USD 0.55 kg to USD 1 kg.

The company said that the big numbers were explained to an increase in volume sold and a decrease in costs, influenced by the consolidation of Salmones Magallanes.

In August, AquaChile acquired 26 concessions from the salmon farmer (and Pesquera Edén) for USD 259 million, boosting production by nearly 23 thousand tonnes. 

In turn, AquaChile was purchased by Agrosuper, one of Chile’s top food producers, who valued the company at USD 850 million.