Salmones Camanchaca S A : Earnings Report 2025 - Q3

About this update from Salmones Camanchaca Sa

Salmones Camanchaca S.A. and Subsidiaries Earnings Report on the Consolidated Financial Statements For the period ended September 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 2025and 2026 is between 62,000 and 64,000 MT WFE. 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 Latinamerica. Key Highlights of Q3 2025 Revenues in Q3 2025 reached USD 103 million, 43% higher than Q3 2024 due to a greater volume of Atlantic salmon sold (+72%) at slightly lower prices (-4%). Year-to-date, revenues were USD 278 million, 2% lower than the first nine months of 2024. Atlantic salmon harvests in Q3 2025 reached 19,855 MT WFE, 60% higher than those in Q3 2024 (12,418 MT WFE), with an average harvest weight of 5.2 Kg WFE (5.1 Kg WFE in Q3 2024). As of September 2025, Atlantic harvests reached 43,893 MT WFE, 29% higher than the previous year, closing September with an inventory of 9.8 thousand MT WFE, over 3 thousand MT WFE higher than in September 2024. The quarterly cost of harvested Atlantic salmon (ex-cage, live weight) was USD 3.62/Kg (or USD 3.89/Kg WFE), 11% lower than that recorded in Q3 2024 (USD 4.08/Kg live fish), a decrease originated by the higher average weight, lower feed cost, better sanitary conditions, and greater operational efficiencies. With this, the accumulated ex-cage cost as of September reached USD 3.90/Kg live weight (USD 4.19/Kg WFE), 14% lower than the USD 4.52/Kg of 2024. The total processing cost for Atlantic salmon, including the transportation of harvested biomass, was USD 0.91/Kg WFE in the quarter, lower than the USD 1/Kg objective, and 18% lower than Q3 2024, due to a higher processed volume, a greater proportion of sites in the X region -with lower logistic cost-, a significant drop in packaging cost and operational efficiencies. As of September 2025, this cost reached...

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