Invermar announces 2018 first quarter results

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Invermar today announced financial results for the first quarter ended 31st March.

The company’s first-quarter EBITDA before fair value came in USD $15.01 million, a 5% hike from USD $14.26 million in Q1 2017. The revenue also dropped slightly in the same period, from USD $ 64.78 million to USD $ 64.72 million.

The Chilean firm presided by Roberto Izquierdo Menéndez, said in a statement to the industry site Aqua:

“The level of invoicing responds to a decrease in international prices and the highest production of salmon of the company, reaching a harvest total (equivalent to whole fish) of 10,099 tons in the Q1 2018, which is higher than the 8.617 tons of the the same period of the previous year (+ 17.1%).”

Invermar also highlighted that it recorded losses of US $ 1.23 million in Q1 2018. with a negative effect of US $ 5,20 million and a net negative effect of fair value of US $ 5.79 million. This was due to the effects of the toxic algae bloom in Chile’s waters.