Multiexport swings back to profits in Q1 2014

Christian Pérez Multiexport reported a Q1 operational EBIT of US$ 1.6 million, compared to a negative operational EBIT of US$ -16.3 million in Q1 2013 and US$ -5.7 million in Q4 2013. In its latest quarterly report, the company explained that this economic recovery is due to higher salmon prices in the period compared to those of 2013. Likewise, Multiexport registered improved unitary results with an EBIT/Kg WFE for Atlantic salmon of US$ 0.15 compared to US$ -1.02 in Q1 2013, and an EBIT/Kg WFE for trout of US$ 0.09 compared to US$ -0.58 in Q1 2013. Regarding biological aspects for Atlantics, the company reported an improved sanitary condition with lower sea lice abundances, higher average harvest weights (up to 4.8Kg) and decreased monthly mortality rates, down to 0.6 percent. Finally, Multiexport says that the Chilean salmon industry is scaling down its growth, awaiting for future regulatory changes and industry consolidation.