High salmon prices boost Blumar’s Q1 revenues by 11 percent

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Higher sales in both farmed salmon and fishing segments have boosted Blumar’s revenue by 11 percent in Q1 2022 to US$147.8 million.

Of the reported income, 57 percent came from the aquaculture segment, whose main products are Atlantic salmon and coho.

The Chilean salmon farmer said the increase in salmon sales comes from higher prices in international markets. It saw EBITDA rise to US$29.9 million in Q1, exceeding by more than US$20 million the EBITDA in Q1 2021.

It said the results mark the beginning of a consistent recovery of the company following the pandemic.

“The results of this first quarter are the consolidation of what we have observed during the last time, noting an important recovery in the aquaculture segment and improving the performance of the fishing sector. We have seen that there is a growing demand for seafood, due to its nutritional and sustainability attributes, which has allowed us to re-improve our commercial objectives after the pandemic,” said the general manager of Blumar, Gerardo Balbontín.

“The world requires sustainable proteins like the ones we offer, and we believe that our commercial and operational proposal is in line with global trends and demands, which will allow us to consolidate the company’s recovery after the impacts of the pandemic,” he added.