Higher sales generate an increase in operational costs for AquaChile

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Chile’s largest salmon farmer, AquaChile reported a small drop in earnings due to operating costs.

The company’s Q2 EBITDA before fair value was USD 25 million, down slightly over the USD 26.2 million recorded in 2017. Its six month EBITDA was USD 63.4 million (EUR 54.3 million), dropping 17 percent from USD 76.4 million (EUR 65.5 million) for the previous year. The company said that the lower EBITDA is mainly due to the decrease in the export price of salmon.

AquaChile recorded a profit of US $ 55.7 million in the first half of 2018 representing an increase of 139% compared to US $ 23.3 million in the same period of 2017.

Income was USD 184 million (EUR 158.5 million) up 24% compared to last year’s Q2 of USD 149.8 million (EUR 129 million).

Sold volumes of Atlantic salmon this quarter were 9,939 metric tons, which are up 7 percent overall year-on-year. Operating costs increased 12%, which was explained by the increase in volume sold the company said.