AquaChile almost doubled H1 operating profit this year
Improved performance, higher harvests, and balanced spread of markets boosted salmon farmer's bottom line
Published
Salmon farming heavyweight AquaChile made an operating profit of US $109 million (before fair value adjustment) for the first half of this year, $51m more than in H1 2024, it reported.
AquaChile, one of the world’s top five producers, said the difference was mainly due to improved operational performance, higher harvest volumes, and a balanced portfolio of destination markets, achieving an EBITDA margin of 17.4% over the last 12 months.
When fair value adjustment is taken into account, the net result was $124m, an increase of $89m.
Sales revenue in H1 2025 reached $891m, 6.6% higher compared to the first half of 2024, while production costs were $647m, 0.3% lower than the same period last year. Administrative, distribution, and sales expenses were $97m, 6.4% lower due to lower air freight expenses.
Cumulative EBITDA excluding fair value adjustment in H1 totalled $171m, representing a 61.1% increase. This was primarily due to lower sales and distribution costs and a balanced portfolio of target markets.
Pressure on prices
During the second quarter of 2025, global salmon supply grew compared to the same period last year, driven primarily by the Norwegian (+26%) and Chilean (+15%) industries, according to AquaChile.
The United States, the main market for Chilean Atlantic salmon, was affected by the imposition of tariffs, which drove up retail prices and importer distribution prices, with their respective effects on consumption and demand.
This has also caused producing countries to push for increased supply in other Atlantic salmon markets, such as Brazil, Europe, Mexico, and China, leading to lower prices and adjustments in distribution systems and inventories around the world.
Regarding coho salmon, sales prices during the second quarter have remained stable in Japan and at good levels in the rest of the world, despite the adjustments taking place in Atlantic salmon due to the imposition of tariffs in the United States.
"The diversification of markets, formats, and presentations for Pacific salmon has allowed us to maintain a good level of consumption and low inventory levels in the main markets," said the AquaChile group.
