Blumar’s EBITDA up 92%

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Atlantic salmon driving growth – representing 60 per cent of all company income.

EBITDA for the Chilean seafood producer rose from USD 66.8 million to USD 128.5m year-on-year – a 92% increase. Revenue increased from USD 328.5 million in 2017 to USD 503.3m in 2018.

Its success is attributed from a boost in EBIT margins achieved by its Atlantic salmon operations, which now makes up 60 per cent of all company income.

EBIT/kg for Blumar’s Atlantic salmon rose from USD 1.27/kg in 2017 to USD 1.59/kg in 2018 – a 25 per cent increase.

The company has also harvested 67.5 per cent more fish: from 30 thousand tonnes in 2017 to 50.270 thousand tonnes in 2018.

Last year, authorities granted two new aquaculture concessions to BluRiver SpA – controlled by Blumar – to farm salmon in Magallanes, which is expected to add a further 20,000 tonnes of fish to production.