Lower market prices hit Multifoods’ Q3 earnings

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Chilean salmon farmer – which is a quarter owned by Japanese trading house Mitsui – posts similar earnings as last year.

In a press release, Multifoods Exports has posted a Q3 2019 EBITDA of USD 74 million, a small decrease compared to USD 75 million in the same period of the previous year.

It posted an 18 per-cent increase in its income, reaching a total of USD 422 million.

Multiexport Foods CEO Andrés Lyon said: “this increase in our income is explained by a greater volume harvested and sold, noting that the accumulated amount of fish harvested (ed. to date this year) by September reached 68 thousand tonnes accumulated.”

The reduction in earnings was down to the “lower market prices observed this year,” added Lyon.