Lower sales yet growth for Chile’s newly crowned salmon kings

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Food giants, Agrosuper delivered its Q2 financial report that preceded the AquaChile and Friosur mega-merger.

The company said that it this year its profits reached Chilean pesos 82.504 million (US $ 124 million at the current exchange rate), with a growth of 12.3% compared to the the same period of 2017.

EBITDA margin increased from 19,5% to 19,9%.

The salmon side of the businesss had an EBITDA margin of 26.1%. Agrosuper highlighted that its salmon sales revenue decreased by 22.4% as a result of lower international prices and lower volume sales (during 2017 there was a significant decrease in finished product inventory).

Talking to the site Aqua.cl, the company said it expects the “lowest offer to maintain the favorable conditions of sale prices this year 2018 (after the decrease in 2017 and its subsequent recovery in recent months).”

And in relation to the Friosur and AquaChile acquisitions in June and August, the company said “they are consistent with our strong export vocation, and it will allow us to continue developing, in a sustainable manner, products of the highest quality and safety for Chile and the world.”