Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


Camanchaca highlighted the rise of its Fishing division with 16% growth

Better performance of the main businesses boosts Camanchaca's results in the first quarter of 2022

Click on the flag for more information about Chile CHILE
Friday, May 27, 2022, 01:50 (GMT + 9)

     • Quarterly revenues reached US$ 157 million, 6% higher with Fishing rising 16%.

    • As a result of the entry into operation of the new frozen plant in Coronel, there was a higher volume of sales of frozen horse mackerel, which, added to the better prices of salmon, raised the quarterly EBITDA to almost US$11 million, US$ 8.6 million higher than the same quarter of 2021.

     • Net income was US$1.2 million, better than the loss of US$8.8 million a year earlier.


Photo: Camanchaca

Santiago, May 26, 2022.- The fishing and aquaculture firm Camanchaca reported its financial results corresponding to the first three months of 2022, exhibiting a better start to the year with consolidated revenues of US$ 157 million, 6% higher than those of the same period of the previous year. The increase in its Fishing division stood out with 16% growth, while Crops fell 39%. With this, the gross margin on revenues rose from 4% in the first quarter of 2021 to 9.2% this year.

|



The higher volume and better prices in the sale of frozen horse mackerel, as well as an improvement in the results of Salmon, were behind the results of the quarter. Atlantic salmon prices reached all-time highs and extraordinary mortalities were half of those in the first quarter of 2021. This allowed EBITDA to rise by US$8.6 million, reaching US$10.7 million.

In this way, the Company recorded a net profit of US$ 1.2 million during the first quarter of the year, compared to a loss of US$ 8.8 million in the same period in 2021.



In the Fishing division, 31,000 tons of jack mackerel were caught in the central-south zone, a third of the annual quota, and sales of the frozen format reached 13,687 tons, more than triple those of 1Q 2021 as the new frozen plant in Coronel. This allowed taking advantage of the benefits of a higher volume and price of frozen horse mackerel, which exceeded US$1 per kilo. In the north, catches were delayed due to extensions of the closures typical of the first two months of the year, but they remain below normal historical levels. There were no industrial captures of anchoveta, as it was very close to the coastline, which was mitigated by greater purchases of artisanal fishing which, added to greater industrial captures of mackerel, made it possible to increase the total landings of raw materials by 41%, up to 15 thousand tons. Meanwhile, sardine catches in the central-south zone reached 34 thousand tons, similar to 1Q 2021 but with a high oil yield that also had price increases.

Opening Ceremony on Wednesday of the Coronel plant (Photo: Camanchaca)

“The entry into operation of our new frozen plant in Coronel marks a before and after in our fishing activity in the center-south, and triggers the good results for our subsidiary Camanchaca Pesca Sur. This plant has state-of-the-art technology and the capacity to process 650,000 kilos of jack mackerel per day, and our plan is to produce around 50 million kilos during the year, which will give a fish ration to around 150 million people in the world. Frozen horse mackerel has gained a lot of competitiveness this year, as its relative price has dropped compared to other proteins.

In northern catches, the situation is better, but not good, as deficits persist with respect to fishing history, and it is confirmed that the impediments to drilling are not compensated by the purchase of artisanal fishing. Without prejudice to that, we have more than doubled the landings of artisanal fishing, among others, thanks to the transport ship that receives this fishing within its zone”,
highlighted the general manager of Camanchaca, Ricardo García.

In Salmon - which already reported its results for the first quarter this month - Atlantic salmon harvests decreased by 11.5%, reaching 8,108 tons WFE, affected by low oxygen in one of its farming centers, which forced to advance their harvests, affecting the costs of Atlantic salmon this quarter and which rose to US$ 4.36/Kg live fish. Sales of Atlantic salmon rose to almost 10 thousand tons WFE, and at a price 42% higher, reaching US$8/Kg.

Camanchaca maintains an estimate of total harvests for its Salmon division of 51 thousand to 54 thousand tons WFE for 2022, with 45-47 thousand of Atlantic salmon and 6-7 thousand of Coho.

As for cultivation, mussel harvests decreased 10.7% in the period and accumulate 10 thousand tons processed, which affected finished products that fell 16.4%, also impacted by labor shortages in Chiloé. Mussel sales were hampered by the Russian and Ukrainian market closures.

According to García, “This is a much better first quarter than what we had in 2021, but still far from our consolidated expectations. Better, but not enough highlights the good evolution that Pesca Sur has, operating on the healthy and sustainable fishery of horse mackerel, and with recovery of volumes of artisanal sardine fishing. They also highlight the excellent conditions of the demand for salmon, which leads it to register prices at historical maximums. We still have to improve anchovy catch landings in the north, and control the risks associated with environmental conditions in salmon farming in the summer, both things for which we have plans and strategies in full deployment.”

Photo: Camanchaca


www.seafood.media

 


 Print


Click to know how to advertise in FIS
MORE NEWS
Peru
Jun 29, 07:00 (GMT + 9):
PRODUCE authorize the extraction of bonito for vessels with fishing permits
Seychelles
Jun 29, 07:00 (GMT + 9):
Investigation into ammonia leak on Spanish tuna vessel begins in Seychelles
Australia
Jun 29, 07:00 (GMT + 9):
Tassal entry is not Cooke’s first rodeo
Argentina
Jun 29, 04:50 (GMT + 9):
New shrimp prospecting and closure of subarea 15
Norway
Jun 29, 04:00 (GMT + 9):
The Norwegian Pelagic Fishing Course in Week 25
Argentina
Jun 29, 00:00 (GMT + 9):
Other Media | Industrias Pesqueras: CeDePesca affirms that the certification of Argentine shrimp is
Argentina
Jun 28, 10:30 (GMT + 9):
Exports with a slight drop in May
Norway
Jun 28, 07:00 (GMT + 9):
Successful smolt release
South Korea
Jun 28, 07:00 (GMT + 9):
Corean import of frozen boiled welk meat
China
Jun 28, 07:00 (GMT + 9):
Fujian's first abalone processing industrial park settled in Putian Xiuyu
Russian Federation
Jun 28, 07:00 (GMT + 9):
Japan will not fish for salmon in the economic zone of the Russian Federation
New Zealand
Jun 28, 07:00 (GMT + 9):
NZ King Salmon's Blue Endeavour may require a capital raise
United States
Jun 28, 07:00 (GMT + 9):
Current Foods Closes $18M Seed Round to Launch Plant-Based Smoked Salmon into Retail
European Union
Jun 28, 01:00 (GMT + 9):
Unilateral quotas on mackerel established by Norway and Faroe Islands
Japan
Jun 28, 00:50 (GMT + 9):
Frozen tuna presentation │ Toyosu Market │ until 21-June-2022



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Patagonian toothfish: US-UK diplomatic friction over fishing off the Falkland's
United States The following is an excerpt from an article published by Associated Press: MIAMI (AP) — It's one of the most expensive fish in the world. It sells for $32 a pound (450 grams) in Whole Foods s...
The Argentine Government denounces British ships for illegal fishing in the vicinity of the South Georgia Islands
Argentina The Foreign Ministry warned about the irregularity and considered that the United Kingdom does not comply with the regulations The Argentine Foreign Ministry denounced today that British-flagged fi...
Exports with a slight drop in May
Argentina According to data provided by CAPECA, foreign sales registered a 1.6% decline compared to the same period in 2021. In the first 5 months of 2022 there were sales of 674 million dollars. The biggest fa...
Pacific fishery council recommends tuna catch limit
Guam The Western and Central Pacific Fishery Council has recommended setting a 2023 catch limit of 2,000 metric tons of bigeye tuna each for Guam, the Northern Marianas and American Samoa. “Each U...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2022 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER