Employees working at one of Salmones Camanchaca's sites. The Chilean producer ended 2025 with a net profit of USD 24.9 million, 4.4 times greater than in 2024.
Photo: Salmones Camanchaca.
Salmones Camanchaca presented its Q4 and FY 2025 results report. The Chilean salmon company closed last year with a favourable operational and financial performance that, according to the reported figures, resulted in EBITDA of USD 13.6 million in the fourth quarter and USD 67.7 million for the full year, representing a year-on-year growth of 38%.
Regarding the net result, after taxes, it accumulated USD 25.5 million in the year, 83% higher than in FY 2024, which generated a net profit of USD 24.9 million, 4.4 times greater than in the previous year.
These figures, the company said, are the result of the operational improvements implemented that translate into better sanitary conditions and lower costs, in a year in which Salmones Camanchaca did not register any extraordinary mortalities.
Thus, in Q4 2025, Salmones Camanchaca obtained a harvest of 17,600 tons, 4% more than in the same quarter of 2024, while in the total for the year, they reached 61,500 tons, an increase of 18%.
Despite this, the Chilean company reported a 3% decrease in Atlantic salmon sales volume and a 7% decrease in price during the quarter, resulting in revenues of USD 108 million, 10% lower year-on-year. For the full year, the price decline was 2.3%, translating to revenues of USD 386 million, 5% lower than in 2024.
Specifically, prices for Atlantic salmon, its main product, fell 7% in the quarter and 2.3% for the year as a whole. Meanwhile, the cost of live Atlantic salmon harvested this year was USD 3.97/kg, a 9% reduction. As a result, the margin measured as EBIT/kg increased from USD 0.62 to USD 0.84.
Regarding Coho salmon sales, Salmones Camanchaca reported a 75% reduction. The cause behind this decline was the reduction in the stocks of this species, which went from 3 to 1 site in the 2024-25 season.
"The industry is facing almost four years of regulatory and judicial harassment driven by a radicalized environmentalist ideology that seeks depopulation and degrowth in southern Chile," said Ricardo García Holtz.
As is customary in Salmones Camanchaca's report presentations, the company's Vice President, Ricardo García Holtz, was responsible for commenting on the results achieved.
"The efforts we have made over time to achieve operational improvements and productive efficiencies that are consistent with the sustainability of our activity have allowed us to contain costs and obtain higher margins, bearing fruit in 2025, a year with slump prices due to the greater supply from Norway and Chile," he stated.
"To that condition were added tariffs in the U.S. that put even more downward pressure on prices for the exporter, something unexpected with the free trade agreement we have with our main trading partner," García Holtz added.
The solid results obtained, however, did not prevent the Vice President of Salmones Camanchaca from taking advantage of the presentation to make an assessment "from a broader perspective" of the management of the outgoing Chilean government—the leftist Gabriel Boric will leave the presidency on March 11, at which time he will be replaced by the president-elect, the ultraconservative José Antonio Kast.
The solid results obtained, however, did not prevent the Vice President of Salmones Camanchaca from taking advantage of the presentation to take stock "from a broader perspective" of the management of the Chilean salmon industry carried out by the outgoing government—the leftist Gabriel Boric will leave the presidency on March 11, at which time he will be replaced by the president-elect, the ultraconservative José Antonio Kast.
"The industry is facing almost four years of regulatory and judicial harassment driven by a radicalized environmentalist ideology that seeks depopulation and degrowth in southern Chile, funding local organizations from abroad that encourage conflict, legal action and the blocking of progress, and they do so directly or by infiltrating the Government," said Ricardo García Holtz.
"Today we hope that the newly elected authorities will break the deadlock that has hindered the development of the industry for many years, because Chile has great unused advantages that would contribute to more growth, more jobs, more taxes paid, and more vitality for the south and for Chile in general," he continued.
After commenting on the Chilean regulatory framework, the Vice President of Salmones Camanchaca concluded his assessment by saying that the company estimates harvests of approximately 65,000 tons by 2026. "Marking a new milestone of gradual, but steady, growth," García Holtz concluded.