AquaChile reports net profit of US$ 33.7 million

News
1650

Chilean salmon farmer AquaChile recorded a net profit of US$ 33.7 million for January-September.

This compares favourably with the loss of US$ -28.7 million in the same period of 2016.

The consolidated EBITDA was US$ 91.9 million at September 30, higher than the US$ -6.3 million recorded at the same date last year. This was due to increased sales margins in all species, reports Aqua.

AquaChile’s consolidated sales for the first nine months of 2017 were US$ 423.9 million, 5 percent higher than the same period in 2016, while operating costs decreased 20 percent.

For the third quarter, earnings were US$ 10.4 million; consolidated sales were US$ 106.2 million, despite lower volumes; EBITDA before fair value reached US$ 15.4 million; and operating margin increased 100 percent in July-September.

read also: AquaChile is no longer the largest salmon exporter in Chile