Camanchaca closes the 2022 annual report “very satisfied” with revenue results above those of 2021. According to the report, the business has continued to grow despite adversity and new opportunities have been found.
“We conclude 2022 very satisfied with the performance and results of our Company, where we can affirm that the impacts generated by the COVID-19 pandemic are behind us.” This is how Camanchaca’s director, Jorge Férnandez, explained the company’s situation in the annual report. The report announced revenues of US$ 723 million, 13% higher than in 2021, and a consolidated EBITDA of US$ 124 million, up 17% compared to 2021. These more than positive results show the company’s progress.
Salmones Camanchaca S.A., their main subsidiary, achieved results much higher than in 2021. Furthermore, the financial results are not the only ones to be highlighted; there are also other achievements. Some of them are lower mortality in the crop, higher growth rates, and better harvesting.
Likewise, the harvest projections for 2023 are also positive. The harvest of Atlantic salmon is estimated between 44 thousand and 46 thousand tons WFE (Whole Fish Equivalent), and of Coho salmon between 10 and 12 thousand tons WFE, doubling the harvest volume compared to the previous year.
One of the milestones: the inauguration of the frozen plant in Coronel
In 2022 the company pointed out the inauguration of a frozen jack mackerel plant in Coronel, which incorporates cutting-edge technology. This new plant allowed Camanchaca to improve its results, not only because of the higher volumes of frozen jack mackerel produced but also because of the purchase of international quotas for this resource.
The main challenges: Northern Fisheries and the division of crops with mussels
Northern fishing has been one of Camanchaca’s challenges. In 2022 the Supreme Court prohibit for companies to access anchoveta fishing in the usual places, allowing only artisanal fishing. As a result, the company developed a hybrid model. This model would be based on the purchase of raw materials from artisanal fishermen in the fishing zone and transportation to its processing plant.
On the other hand, in the Cultivation Division, specifically in the mussel operation in Chiloé, Camanchaca had a challenging year, in which the production level was reduced by 8%. This was due to the lower growth of biomass and labor supply due to COVID-19 support measures in addition to the global outlook with the Russia-Ukraine war.
About Salmones Camanchaca
Salmones Camanchaca S.A. is a vertically integrated salmon producer in Chile. Its process is dedicated to breeding, egg production, recirculating hatcheries, and passage or lake hatcheries for coho salmon and trout. They also have fish farms in the fjord and oceanic waters used mainly for Atlantic salmon, primary and secondary processing. Besides, they also work in the marketing and sale of Atlantic and coho salmon through sales offices.