Salmones Camanchaca S A : Earnings Report 2025 - Q2

About this update from Salmones Camanchaca Sa

Salmones Camanchaca S.A. and Subsidiaries Earnings Report on the Consolidated Financial Statements For the period ended June 30, 2025 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 four sales offices in its main markets. The Company's Atlantic and Coho salmon harvest target for 2025 is between 60,000 and 63,000 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 1,800 employees on average, 60% of whom work in its value-added plant. The main Atlantic salmon sales markets are USA, Brazil and Mexico. Key Highlights of Q2 2025 Revenues reached USD 70.3 million in Q2 2025, 26% lower than Q2 2024, mainly due to lower sales in both species, but especially in Coho, which dropped by 93% because of a strategic decision of a reduced stocking for the 2024-25 season. Atlantic salmon sales also decreased by 14% due to a delay in our 2025 harvest plan towards June. This was partially offset by better prices for both species: Coho prices increased by 40% and Atlantic salmon prices by 2%. Revenues for the first half of the year were USD 174.2 million, which is 18% lower than first half of 2024. Atlantic Salmon harvests in Q2 2025 were 11,426 MT WFE, slightly lower than the 11,643 MT WFE harvested in Q2 2024. Harvest weight remained at 5.0 kg WFE, the same as Q2 2024. Year to Date June 2025, Atlantic salmon harvests reached 24,038 MT WFE, a 12% increase over the previous year. The inventory was 5,300 MT WFE as of 30 June 2025, an increase of 1,700 MT WFE compared to June 2024. No Coho harvests during the quarter, and an almost zero inventory, compared to 2,100 MT WFE in June 2024 and 2,300 MT WFE at the end of 2024. The quarterly cost of harvested Atlantic salmon (ex-cage, live weight) was USD 4.06/kg (USD 4.37/kg WFE), which is 12% lower tha...

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