– The company reported profits of US$ 44 million during the first six months of the year, which represents an increase of 83% compared to the same period in 2021.

Talcahuano, August 31, 2022. In its quarterly results report, Blumar reported sustained growth in its profits during the second quarter, reaching US$ 26.6 million, which represents a positive variation of 24.1% compared to the same period of the previous year. With this, the company almost doubled its profits during the first half of 2022,  going from US$ 24.1 million in 2021 to US$ 44 million, which means a growth of 83%.

Consolidated revenues so far this year show a positive variation, reaching US$ 334.8 million, where sales growth was driven  by a 13% increase in the fishing segment. Similarly, in the analysis of the sales mix, Blumar reported that the aquaculture business represented 52% of revenues, while the fishing area accounted for 48%.

“The results show that both the fishing and salmon areas are meeting objectives and that our products are attracting consumers from various markets, reflecting that the link between our sustainability strategy and business strategy has been successful. The innovations we have developed in the aquaculture segment and the focus on jack mackerel recovery have allowed us to have a solid proposal that adapts to consumer demands”, explained Blumar’s general manager, Gerardo Balbontín.

Blumar has contributed to the improvement of jack mackerel fishery, which in 2010 was overexploited. Thanks to measures adopted by the company and the incorporation of a scientific and precautionary approach to define catches, through fishery management of the resource, mainly through the South Pacific Regional Organization SPRFMO, jack mackerel recovered to a state of Full Exploitation, which has allowed an increase in the global quota of 15% annually since 2020 and with similar expectations for 2023.

This enabled the company to report an increase in sales in the fishing segment and has allowed 86% of jack mackerel fishing to be destined for human consumption, with Africa being its main destination. 

“Jack mackerel represents 16% of our revenues and we believe there is a very relevant potential market, which is why this year we certified the chain of custody of this fish under the international MSC standard, which allows us to enter, for example, the European market”, indicated Balbontín.

As pandemic-related restrictions have diminished, the company’s aquaculture segment has also been recovering. This is because the main sales channels, such as hotels and restaurants, have been reactivating, which, together with an increase in prices in international markets, have allowed a recovery of this business compared to recent years.

“We want to continue growing through the export of world-standard and sustainable salmon, which is why we recently launched the Laguna Blanca line, which is salmon produced in Magallanes, without the use of antibiotics in the production cycle, which adds to our other proprietary delivery brand, Oshen Salmon, and which together allow us to serve the delivery segment of demanding markets with products with a high sustainability standard”, expressed the executive. 

Growth in margins and EBITDA

EBITDA pre-adjustment fair value also registered growth in the second quarter, as with US$ 51.8 million it posted a growth of 26% compared to the same quarter  of the previous year. With this, the indicator reached US$ 81.8 million during the first half, which means a growth of 62% compared to 2021, with the fishing segment showing the largest contribution with US$ 62  million, which represents almost 76% of the total.

On the other hand, the fishing and salmon company also registered a growth of 55% in gross margins, reaching US$ 103.6 million, which reflects better performance and efficiency in both segments.

“During this year, we have managed to resume growth after a pandemic period that challenged us in different ways. Today, we see greater dynamism in the main destination markets, and the offer we have for them, through healthy and sustainable products, allows us to take better advantage of this moment and prepare ourselves for periods of greater complexity”, concluded  Blumar’s general manager, Gerardo Balbontín.