AquaChile reports net profit of USD23m in H1 2017

News
1794

The figure compares very favorably with the loss of USD37.6m for the same period of 2016.

According to Chilean newspaper Aqua.cl, the results are mainly explained by the decrease in operational costs for trout, Pacific salmon and tilapia.

Strong sales prices for salmon and trout also contributed to the good result, which  increased by 48 percent compared to the same period last year.

Meanwhile, AquaChile’s EBITDA (earnings before interest, taxes, depreciation and amortization) amounted to USD76.4m compared to minus USD11.4m in 2016.

The good results have enabled AquaChile to strengthen its balance sheet and reduce its finacial debt.

Thus, in the first six months of the year, its net financial debt decreased by 24.6 percent.