Blumar S.A.’s consolidated financial results at the end of the first quarter of 2020 reflect a sales level of MUSD 115.812, an EBITDA of MUSD 17.107 and a net profit of MUSD 304.
Highlights of the period:
- In fishing, the total supply of pelagic raw material (80 Mton) decreased by -19% compared to the end of the first quarter of 2019 (99 Mton), due to lower fish purchases (-24 Mton) and despite the increase in own catch (+5 Mton).
- Decline in prices of Fish Meal and Frozen Jack Mackerel in -1% and -12% respectively. Fish Oil price increased by +18%.
- Decline in EBIT margin Atlantic Salmon from 0.87 usd/kg wfe in Q1 2019 to 0.07 usd/kg wfe in Q1 2020.
- Decline of -12% in ex-cage cost in Q1 2020 compared to Q1 2019.
- Atlantic Salmon price decreased by -10% compared to Q1 2019.
In the fishing segment, the production of fish meal and oil decreases, which is attributed to lower fish supply in the period compared to 2019. In the case of Frozen Jack Mackerel, its production increased by +20% due to greater catches from the company’s own fleet and a greater destination of these for human consumption, which increased from 71% in March 2019 to 73% in March 2020.
In the aquaculture segment, an Atlantic Salmon sales volume of +13% is observed, which is explained by a greater harvest volume in the period, which were +15% higher than those at the end of the first quarter of 2019. On the other hand, the average price decreased by -10% compared to the same period of the previous year.
Blumar is a world-class organization dedicated to fishing and aquaculture. With more than 60 years of experience in the industry, it stands out for producing quality products in harmony with the environment.
Its fishing products are Frozen Jack Mackerel, Hake and Squid for human consumption and Fish Meal and Fish Oil for animal feed production. In the aquaculture area, it produces and sells Atlantic Salmon. Since the end of 2017, Salmones Blumar through its subsidiary Salmones BluRiver operates in the XII region where it began harvesting since November 2019 the first Atlantic salmon centers and will begin processing in a modern plant during 2020. At full capacity, BluRiver will produce 22,000 tons wfe of Atlantic salmon per year, with a total investment estimated at USD 150 million.
