Salmones Camanchaca S A : Earnings Report 2024 - Q4

About this update from Salmones Camanchaca Sa

This English version of the report is a free translation from the Spanish version. In case of any differences between these two versions, the Spanish version prevails. Salmones Camanchaca S.A. and Subsidiaries Earnings Report on the Consolidated Financial Statements for the period ended December 31, 2024 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, fish farming sites in estuary, 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. The Company's Atlantic and Coho salmon harvest target for 2025 is between 56,000 and 59,000 MT WFE and for 2026 is between 63,000 and 68,000 MT WFE. Salmones Camanchaca participated in trout farming through a one third share of a joint venture, and which was early terminated, thereby, its financial effects will end when the stock of finished product is sold, which is estimated to occur in 2025. Salmones Camanchaca has 1,900 employees on average, 60% of whom work in its value-added plant. The main Atlantic salmon sales markets are USA, Brazil and Mexico. 1 This English version of the report is a free translation from the Spanish version. In case of any differences between these two versions, the Spanish version prevails. Key Highlights of Q4 2024 Revenues reached USD 121 million in Q4 2024, 27% higher than Q4 2023, mainly due to higher sales volumes of Atlantic (+35%) and Coho (+28%) with similar prices for Atlantic and better in Coho (+43%). Total Revenues for 2024 were USD 405 million, 14% higher than 2023, mainly explained by 15% higher sales of Atlantic and by doubling Coho sales volume from the 2023-2024season , despite lower prices in Atlantic (-6%)and Coho (- 16%). Atlantic salmon harvests in Q4 2024 were 13,689 MT WFE, 56% higher than Q4 2023 (8,783 MT WFE), due to moving harvest from Q3 to Q4 2024 to gain weight, which reached 5.5 Kg WFE in Q4 2024, higher than the 4.5 Kg WFE of Q4 2023. In 2024, Atlantic harvests reached 47,661 MT WFE, 8% higher than the same period of the previous year, leaving an inventory as of December 31 of 3.6 thousand MT WFE, 35% lower than December 2023. Coho salmon harvest volu...

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