Revenue and sales increase in Salmones Camanchaca Q3 2024

Salmones Camanchaca has reported that during the third quarter of 2024, its accumulated revenue grew by 10%, reaching USD 284 million, primarily driven by a 22% increase in sales volume.

Despite the increase in these figures, weak demand has led to a lower price for the product. As a result, Atlantic salmon harvests were 33,972 metric tons WFE (Whole Fish Equivalent), 4% lower than in the first nine months of the previous year, and sales reached 32.2 thousand metric tons WFE, with an 8% lower price.

Thanks to weight recovery, good sanitary conditions at harvested sites, and a downward trend in feed costs, the quarterly cost of harvested Atlantic salmon has decreased, 13% lower than in the third quarter of 2023.

During the 12 months ending in September 2024, the company reduced antibiotic use by 40% and antiparasitic use by 9% compared to the same period in 2022.

Regarding these data Vice Chairman Ricardo García said: "Although prices have not recovered and demand for seafood remains weak, we have managed, through a series of measures, to reduce production costs, especially at sea, associated with an improvement in the sanitary and biological conditions of the sites, allowing for higher harvest weights and a reduction in other operational costs, along with a drop in feed costs."

"For 2025, we estimate increasing our Atlantic salmon harvests to a range of 52 to 54 thousand MT WFE and maintaining between 3 and 4 thousand MT WFE of Coho, continuing our efforts to lower costs and adapt to customer and market needs," he concluded.