Strong Recovery for Salmones Camanchaca

Salmones Camanchaca publishes its Q4 report with strong recovery
Salmones Camanchaca farm, photo by Salmones Camanchaca
Salmones Camanchaca farm, photo by Salmones Camanchaca

Salmones Camanchaca saw a 36% decrease in the harvest volume of Atlantic salmon, totaling 9,659 metric tons (MT) WFE (Whole Fish Equivalent), compared to Q4 2021, mainly due to accelerated harvesting in Q3 2022. However, the company achieved a strong recovery from the pandemic and 2021 algae blooms, with a 29% year-over-year increase in EBITDA, reaching USD 77.7 million, considerably higher than the USD 3.2 million recorded in 2021, and in line with pre-pandemic levels.

"The results of 2022 show the capability of Salmones Camanchaca to create value under normal scenarios, based on a high production and commercial flexibility, and normal oceanographic conditions that allows to maintain fish health." – Vice Chariman Ricardo García

The outlook for Atlantic salmon harvest volumes for 2023 to be between 44,000 and 46,000 MT, while Coho salmon harvest volumes are expected to be 10,000 to 12,000 MT for the 2023 season.

Salmones Camanchaca's flexibility to change product types and markets helped capture favorable prices and market opportunities. Operating revenue was USD 98.6 million, 8% lower than in Q4 2021 due to lower sales volumes.

Salmones Camanchaca has market and product type flexibility, adapting to requirements and targeting markets with favorable conditions. Its objective is to focus on the markets and product types that offer the best return on its raw materials over the medium term while preserving stable relationships with customers in these markets.

"It is comforting to see how robust and resilient the demand for salmon is, and how consumers around the world have incorporated this product into their diets, projecting that this will continue in the coming years." Vice Chariman Ricardo García

About Salmones Camanchaca

Salmones Camanchaca S.A. is a vertically integrated salmon producer engaged in breeding, egg production, recirculating hatcheries for Atlantic salmon and pass-through or lake hatcheries for Coho salmon and trout, fish farming sites in fjord and oceanic waters used mainly for Atlantic salmon, primary and secondary processing, and marketing and sales of Atlantic and Coho salmon through five sales offices in its main markets.

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