Salmon processing. (Photo: Multiexport Foods)
CHILEMonday, November 10, 2014, 00:10 (GMT + 9)
Multiexport Foods reported a profit of USD 10 million for the period from January to September 2014, a figure that is USD 8.8 million higher than that reported for the same period last year.
In the report of consolidated results sent to the Superintendency of Securities and Insurance (SVS), the company attributed the growth mainly to higher selling prices in international markets and lower production costs.
Multiexport’s total revenues reached USD 287 million and its harvests totalled 47,800 tonnes, implying increases of 18.7 per cent and 24.5 per cent, respectively.
"This significant increase is largely explained by lower production costs associated with better sanitary status and better sale prices of all species," the company stated.
Operational EBIT was USD 4.5 million, that is to say, USD 38.7 million higher than that during the same period in 2013.
For Atlantic salmon, unit operational EBIT was USD 0.15/kg WFE, value reflecting a significant improvement compared to EBIT of -USD 0.82/kg WFE achieved in the same period last year.
Meanwhile, trout achieved an operational EBIT of -USD 0.91/kg WFE during the period.
And the Pacific salmon presented an EBIT of USD 1.25/kg WFE thanks to the good productive yield of harvested groups and the good prices recorded early in the season.
Sales volume showed an increase of 3.9 per cent, reaching 42,710 tonnes of raw material. Of that total, 40,835 tonnes were Atlantic salmon (increase of 12.3 per cent) while the trout contributed 1,816 tonnes (61.8 per cent less than in 2013) and the Pacific salmon, 60 tonnes.
The United States was the main destination of exports from the company, with approximately 54 per cent of sales accumulated up to September 2014, compared with 55 per cent in the same period of 2013.