Fishing vessels belonging to Camanchaca. (Photo: Camanchaca)

Camanchaca profits recede 67 per cent

Compañía Pesquera Camanchaca SA reported profits of USD 3.1 million up to June, representing a decrease of 67 per cent compared to the first half of last year, when it had obtained USD 9 million.

The company stressed it achieved this result despite the 20 per cent drop in salmon prices, which had a negative effect close to USD 23 million.

The slow start of the fishing season for horse mackerel, anchovy and sardine also influenced, as well as some problems in ports and customs of Chile during the second quarter of this year.

These negative factors were offset by good sanitary conditions for salmon, lower costs and extraordinary and non-recurring in fishing and non-operating positive net effects.

Camanchaca reported an EBITDA before fair value of USD 17 million for the first six months of 2015, representing a gross margin of 13 per cent of revenues.

"Given the volatility in the price of our main product, in our capacity as a company, we can only set the focus on lower costs, offering our customers security and gaining relative competitiveness. So it will work," said Ricardo Garcia Holtz, Camanchaca CEO.

Along these lines, the company reduced Atlantic salmon production unit costs to 22 per cent, from USD 3.75 per kilo of live fish ex cage in the first half of 2014 to USD 2.94 in the same period of 2015.

With regard to progress in the reconstruction process of the damaged infrastructure caused by Calbuco volcano eruption, the executive said that they are working hard in the reconstruction of the aquaculture centre Petrohué for it to start operations soon.

"This is advancing at the same time as the settlement insurance processes involved in biomass, and property and equipment," pointed out the entrepreneur.

On the other hand, Garcia Holtz stressed they are confident they will be able to complete the fishing quotas in the central-southern zone. Regarding the northern area, he said the risks "are associated with the severity of the El Niño phenomenon that seems to be affecting the Pacific, although this would entail significant price increases as it is impacting mainly Peru".

In the first six-month period, the prices of fishmeal rose by 23 per cent, to USD 1,912 per ton, and according to Camanchaca manager, to date they are within the historical trend range, at around USD 1,600 per ton, "but with upward bias as a result of El Niño phenomenon".

Related articles:

- Over 30 million fish lost due to Calbuco eruption
- Camanchaca presents its first sustainability report
 

By Analia Murias
[email protected]
www.seafood.media

Address:	El Golf 99 - Piso 10
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Country:	Chile
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