– At the corporate level, Blumar registered profits of US$ 15.6 million in the first three months of 2026, which are composed of US$ 18.8 million from the Fishing Business and US$ -3.1 million from Salmon.
– In terms of revenue, the fishing segment registered a 52% increase in revenue compared to the first quarter of 2025, explained by better international prices and market conditions. In salmon, on the other hand, there was a 35% drop in revenue compared to the same period of the previous year, given the effect of United States tariffs and lower volumes.
Blumar reported consolidated revenue of US$ 192.5 million at the close of the first quarter of 2026, which represents a decrease of -8% compared to the same period of the previous year. For its part, EBITDA pre fair value adjustment reached US$ 34.4 million, reflecting a decline of -3%, while net profit totaled US$ 15.6 million, a figure 44% lower than that recorded in the first quarter of 2025. In the latter, US$ 18.8 correspond to the Fishing business and US$ -3.1 million from Salmon.
The quarter’s performance was marked by significant differences between segments. While the Salmon Business faced pressure from international prices, lower harvest volumes and lower sales volumes, the fishing segment showed an improvement in revenue driven mainly by better international prices in fishmeal and frozen jack mackerel, despite a lower fish oil price compared to the first quarter of 2025.
Fishing revenue reaches US$ 98.8 million
In the fishing segment, revenue increased 52% compared to the first quarter of 2025, reaching US$98.8 million, explained mainly by higher prices and sales volumes in frozen jack mackerel, fishmeal and fish oil. This occurred in a context of lower global resource availability, associated with the El Niño Phenomenon and oceanographic conditions that have affected catches in both Chile and Peru.
The quarter was marked by a scenario of lower jack mackerel availability, associated with oceanographic conditions and the El Niño Phenomenon, a situation that today affects the entire industry. In this context, we saw lower catches, which positively impacted international prices due to lower global supply.
As of the end of March 2026, total raw material supply in pelagic fishing decreased 35% compared to the same period of the previous year, impacted by lower catches from the company and artisanal fishing. Regarding the jack mackerel fishery, the Fishing Business manager, Ignacio Mir, indicated that “the condition of the resource is healthy and the problem today is availability, which will be a significant challenge for the segment during the year. We are working with the authorities and industry groups to monitor this situation permanently, hoping that we can soon have a better pace of catches moving forward”.
Salmon: ex-cage costs remain stable
In the salmon segment, revenue decreased 35% compared to the first quarter of the previous year, affected mainly by lower harvest volumes and an 8% drop in the average selling price. This was added to an international scenario marked by greater global supply and the impact of the current tariff in the United States, the main market for Chilean salmon.
In operational terms, the ex-cage cost remained practically stable compared to the first quarter of 2025 and showed a 5% decline compared to the fourth quarter of last year, associated mainly with better operational performance in the Aysén Region.
The quarter’s performance was marked by lower volumes and a more demanding international price scenario, but a decrease in ex-cage costs compared to the end of 2025 stands out, associated with improvements in operational performance and efficiency in centers in the Aysén Region.
Operational efficiency and 2026 vision
For this year, the company detailed that it expects a challenging year in terms of revenue and will continue to focus on operational efficiency, cost management and productive execution, in a context that will continue to be marked by high volatility in international prices and resource availability.
“The quarter once again shows that we work in industries exposed to global, environmental and regulatory factors. In this context, we see that 2026 will be a challenging year for the company and we must face it with great efficiency,” explained Blumar’s general manager, Gerardo Balbontín.
Regarding the regulatory environment of both productive sectors, the general manager noted that “it is key to advance in greater regulatory certainties, both for aquaculture and for the fishing sector, since they are the keys to recovering competitiveness and providing sustainability to the development of both activities. So far the Government has given good signals in this regard”.
