Multiexport Foods S.a. · BCS:MULTI_X
Multiexport Foods — Q1 2025 Earnings Presentation
26 slides from Multiexport Foods's earnings presentation, May 2025
Slide 1: Q1-25 Results
Q1-25 Results
Slide 2: Agenda
Agenda 1. Quarterly Summary 2. ESG Update 3. Operation Update 4. Financial Update 5. Earnings Calendar
Slide 3: Agenda
Agenda 1. Quarterly Summary 2. ESG Update 3. Operation Update 4. Financial Update 5. Earnings Calendar
Slide 4: Q1-25 Highlights
Q1-25 Highlights • EBIT of USD 23 MM or USD 0.84/kg wfe. • We keep harvest guidance of 115-120 Th. tons this year. In line with this, the Q1-25 harvest increased by 76.8% YoY. • Highest sales for a single quarter at USD 221,5 MM • 100% price achievement offsetting lower market prices. • Ex Farm cost
Slide 5: Q1-25 Figures
Q1-25 Figures Volumes: Q1-25 ( Q1-24 ) Th. Ton WFE Salar Harvest: 27,701 ( 15,665 ) +77% Sold: 27,383 ( 20,921 ) +31% Financial Figures: USD MM Revenues: 221,532 (165,536 ) +55,996 Operational EBIT: 23,022 ( -1,046 ) +24,068 Unitary EBIT * (USD/Kg WFE): 0.84 /Kg ( -0.05 /Kg ) +0.89 EBITDA *: 31,082
Slide 6: 2025 First Quarter Figures
2025 First Quarter Figures Sales Harvest UB Price 3-4 (Th. USD) (ton wfe) (usd/lb fob Miami) 27,701 6.90 221,532 24,628 205,197 6.81 165,536 16,019 15,665 136,159 6.48 6.40 2022 2023 2024 2025 2022 2023 2024 2025 2022 2023 2024 2025 Ebit (US) EBITDA (US) Ebit/Kg (US) (Th. USD) (Th. USD) (usd/wfe kg)
Slide 7: Agenda
Agenda 1. Quarterly Summary 2. ESG Update 3. Operation Update 4. Financial Update 5. Earnings Calendar
Slide 8: Integrated Report 2024, 7th place
Integrated Report 2024 7th place
Slide 9: A simple path
Sustainability is a path, not an end. A simple path, that has to be understood by all.
Slide 10: Our Strategy, as simple as ABC
A Animal B Biosphere C Our Strategy, as simple Community as ABC
Slide 11: Nourishing the Future, Caring for the World
Nourishing the Future, Caring for the World
Slide 12: Sustainability Dashboard
6 Sustainability Dashboard Best Aquaculture Practices *No INFAs results during first quarter 2025. **Annual analysis. *** February information. ND: Not determined
Slide 13: Agenda
Agenda 1. Quarterly Summary 2. ESG Update 3. Operation Update 4. Financial Update 5. Earnings Calendar
Slide 14: Productive Performance
Productive Performance Atlantic Salmon Harvest Volume Mortality Harvest Weights ( Ton WFE ) ( Closed Sites ) (Kg WFE) 27,701 15.1% -0.8% 4.37 +8.5% 4.74 +76.8% 14.3% 15,665 Q1 24 Q1 25 Q1 24 Q1 25 Q1 24 Q1 25 Q1-25 Salar Harvest: 27,701 Th. Ton WFE (+76.8% vs Q1-24) increasing volumes driven by high
Slide 15: Atlantic Salmon Ex Plant Costs
Atlantic Salmon Ex Plant Costs 8,00 6.99 6,35 7,00 0.38 6.68 6.59 6.43 6.35 6.39 6.10 0.33 0.40 6.24 0.36 Ex-Farm, decrease 6.1% YoY with a 4.82/Kg 5.99 0.35 0.29 6,00 0.34 0.25 0.98 0.85 0.32 0.70 WFE. Higher average harvest weight and 0.75 0.76 0.89 0.77 0.49 0.71 0.38 downward trend in costs led
Slide 16: Product Distribution
Product Distribution Sales by volume (ton. wfe) 20,921 22,134 25,843 22,998 27,383 100% 7% 7% 6% 6% 5% 90% 9% 9% 14% 15% 14% 80% Higher share of HON YoY due to higher 70% average weight, supporting market diversification. 60% 47% 49% 50% 51% 50% 57% Continued focus on Value Added to 40% maximize pre
Slide 17: Product Mix by Quality
Product Mix by Quality Atlantic Salmon % Sales by Volume (Ton. WFE) 98.4% 99.3% 99% of PREMIUM 97.5% 96.7% 96.9% 97.1% 96.1% 95.7% 95.9% 95.2% 95.7% product 92.3% 91.8% Q1-22' Q2-22' Q3-22' Q4-22' Q1-23' Q2-23' Q3-23' Q4-23' Q1-24' Q2-24' Q3-24' Q4-24' Q1-25' PREMIUM Higher premium share in a single
Slide 18: Atlantic Salmon Price
Atlantic Salmon Price US Market Price (UB 3-4) Q1-25 vs Q1-24 Q1 $6.40 vs $6.48 USD / LB $8,50 7.50 $7,50 7.20 6.92 $6,50 6.28 6.30 6.20 USD/Lb FOB MIAMI 6.22 5.83 5,97 $5,50 5.12 5.40 5.35 $4,50 $3,50 $2,50 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 Jan Feb Mar Apr May
Slide 19: Multi X Price Achievement
Multi X Price Achievement Atlantic Salmon Premium price achievement of 100,3% vs market price driven by market allocation 110% 50% and contracts strategy. 105% 100,3% 40% 100% 93,6% 98% 100,0% Total price achievement of 30% 95% 97% 100% despite challenging 88,8% 90% 92,2% 20% market. 85% 86,9% 10% 8
Slide 20: Agenda
Agenda 1. Quarterly Summary 2. ESG Update 3. Operation Update 4. Financial Update 5. Earnings Calendar
Slide 21: Cash Flow
Cash Flow 31.082 • Operational Cash Flow o Improved EBITDA generation -17.101 USD th. o Stronger working capital position -8.602 28.244 30.791 • Capex Cash Flow o Maintenance level • Financial Cash Flow o Focus to decrease leverage. 6.730 2.224 -11.786 Source: Multiexport Foods S.A
Slide 22: Humboldt Project
Humbolt Project Humboldt Target and capture (as of March 2025) : $47.5 49.5 +110 10 Real YTD: USD MM Initiatives Teams Expected YTD: $38.0 Expense variation YoY: Savings by business area: P&L Impact: Total EBIT 23 Contribution USD MM Unitary EBIT 0.19 Contribution USD / Kg Source: Multiexport Foods
Slide 23: Debt Ratios
Debt Ratios Net Leverage NFD / EBITDA (LTM) 8,0 7.5 1,30 7,0 1.25 1.25 6.1 5.9 1,25 1.22 1.21 6,0 5.1 1,20 1.17 5,0 1.15 1.15 1.15 3.7 1.13 4,0 3.2 1,15 3,0 2.1 2.4 1,10 2,0 1.1 1,05 1,0 1,00 0,0 Q1-23' Q2-23' Q3-23' Q4-23' Q1-24' Q2-24' Q3-24' Q4-24' Q1-25' Q1-23' Q2-23' Q3-23' Q4-23' Q1-24' Q2-24'
Slide 24: Agenda
Agenda 1. Quarterly Summary 2. ESG Update 3. Operation Update 4. Financial Update 5. Earnings Calendar
Slide 25: Financial Calendar 2025
Financial Calendar 2025 Earnings Release Capital Markets Q2-25 / 21-08-2025 Day 2025 Q3-25 / 11-11-2025 Nov 11 – Nov 12 Puerto Montt
Slide 26: Q1-25 Results
Q1-25 Results