Salmones Camanchaca EBIT down 13.6% in Q3

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Olso-listed Chilean salmon farmer’s operation had a significant cost drop. 

Salmones Camanchaca published on Thursday its financial statement for the third quarter of the year.

As a result of lower prices, operating revenue was down 6.1 per cent to USD 75.9 million in Q3 2019 (USD 80.9 million in Q3 2018). EBIT was down 13.6 per cent to USD 15.8 million from USD 18.3 million last year.

In this quarter, Salmones Camanchaca wrote that the operation had a significant cost drop associated with normal sanitary conditions, harvested sites with normal stocking densities and a higher production scale.

For the third quarter of the year and maintained its estimation of Atlantic salmon harvest volume of around 55 to 56 thousand tonnes (WFE) for the year. Between July and September, the Company reached 16,116 tonnes of Atlantic salmon, being very similar to the total harvests of the first half of 2019 and accumulating 33,443 tonnes to September.

Third quarter live fish costs (ex-cage) were at USD 2.87 per kilo, an 11 per cent decrease from the same period in 2018 as a result of improved sanitary and environmental conditions and harvested sites that had normal stocking densities. The total process costs were 84 cents per kilo, 16 per cent lower than the long-term target.

For this year 2019, Salmones Camanchaca holds annual harvest volume estimation of 60 thousand tonnes.