Salmones Camanchaca Q4 gross profit falls steeply

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The Oslo Stock Exchange’s salmon-farming newcomer, Salmones Camanchaca, has posted a gross, fourth-quarter profit ahead of fair value adjustments of USD 18.2 million, a steep, year-on-year drop after a 16,284-tonne salmon harvest for the period.

The result was a clear setback from the year-ago quarter, when gross profit reached USD 27.3 million. Salmones Camanchaca said the reason for the crimped result was clear: a significant fall in the price of salmon during the quarter.

Like other Chilean growers, Camanchaca registered some degree of fish losses blamed on toxic algae in recent months. Losses thus far are understood to be around 40,000 fish.

The company, however, harvested 34,200 t of salmon in 2017 and its guidance for 2018 is 45,000 t to 48,000 t.