Welcome to FIS   Sponsored By
United States
Subscribe to FIS | Register with FIS | Advertise with FIS | Newsletter | About FIS | Contact us
   


Financial Information for the period ended as of June 30, 2019 (Photo: Blumar)

‘Significant increase’ of salmon lice and absence of giant squid affect Blumar results

Click on the flag for more information about Chile CHILE
Wednesday, August 21, 2019, 22:50 (GMT + 9)

The aquaculture-fishing company Blumar S.A. reports that in the first half of this year its income fell 16%, compared to the results of the first half of 2018. EBITDA (profit before interest, taxes, depreciation and amortization) and the EBIT (benefit before interest and taxes) also decreased by 41% and 48% respectively.

Blumar Fishing EBITDA  Variations MUSD (Source: Blumar)

Profit after taxes registered a decrease of USD 51.1 million, reaching USD 3.2 million in the period. This figure is mainly explained by the fair value variation between both semesters for a total value of USD -45.7 million.

Blumar Aquaculture EBITDA Variations MUSD (Source: Blumar)

Blumar points out that the lower results at the end of the first half of 2019, compared to the same period last year, are due to higher costs in the aquaculture segment and lower fishing results. In the latter segment, the decline is mainly due to the absence of giant squid (Dosidicus gigas) during the first quarter of 2019, which negatively influenced the results of its subsidiary PacificBlu.

Blumar revenue composition by product (Source: Blumar)

In the aquaculture business, the company attributes the lowest result to a 19% increase in the average cost of sales, from USD 4.47 / kg to USD 5.34 / kg WFE. This situation was caused by a 23% increase in the ex-cage Atlantic salmon cost, which was the result of lower harvest productivity due, in large part, to the beginning of the year with a worse health situation, which forced an early harvest at lower average weights than the previous year.

In its report, Blumar explains that the control of the caligus or sea lice in salmon has become difficult this year “due to the loss of effectiveness of the treatment that was mostly used by the industry called azametifos, which began to be detected in some areas during the second half of 2018 and this year the resistance to treatment was extended in almost the entire region of Los Lagos and Aysén.”

"This situation has led to a significant increase in the parasitic loads of fish in the Los Lagos and Aysén regions, but to a greater extent in the latter region," the company added. As an alternative for the treatment of caligus, Blumar began using a system to perform peroxide baths earlier this year, which so far has produced good results, but with higher costs.

Blumar also noted that during July, the authority approved the use of a new tool for the treatment of caligus called Alpha Flux, which is applied through baths to fish up to 800 grams and that will begin to be used during this month. In addition, together with other salmon growers, Blumar is bringing non-drug treatment technologies of Norwegian origin, which it hopes to apply towards the end of this year.

Photo: Blumar

With respect to the fishing segment, this recorded a lower EBITDA of USD 4.0 million at the end of the first half of 2019, compared to the same period of 2018. This variation is explained by a lower result of the PacificBlu subsidiary for USD -7.5 million due to the absence of production and sale of giant squid during the first quarter of the first three months of 2019. However, this situation is contrasted with the best results obtained by both Blumar and Pesquera Bahía Caldera, which together obtained a higher EBITDA for USD 3.5 million thanks to the higher sales volumes of frozen horse mackerel, fishmeal and fish oil.

►Blumar fishing production 2018

At the end of the first half of the year 2019, the total supply of raw material in pelagic fisheries increased by 11% compared to the same semester of the previous year, from 173 million tons to 192 million. This result is due to a greater own capture of +9% due to the good season of horse mackerel and to greater purchases in the north zone by 10 million tons.

editorial@fis.com
www.fis.com


 Print


Click to know how to advertise in FIS
MORE NEWS
Zambia
Sep 17, 06:00 (GMT + 9):
Finnish investor backs expansion of Zambian tilapia producer
Peru
Sep 17, 05:10 (GMT + 9):
Jack mackerel exports register exponential growth
Viet Nam
Sep 17, 05:00 (GMT + 9):
Pangasius companies' stock prices plummet (Video)
Russian Federation
Sep 16, 23:30 (GMT + 9):
TSU researchers developed thermal labels to determine fish freshness
United Kingdom
Sep 16, 22:50 (GMT + 9):
Research project explores feed's role in farmed fish parasite control
Ecuador
Sep 16, 22:20 (GMT + 9):
Govt seeks to solve in China restriction on the entry of Ecuadorian shrimp
Peru
Sep 16, 21:20 (GMT + 9):
Mollusc production area closed due to health risk of hepatitis virus
Malta
Sep 16, 19:00 (GMT + 9):
IN BRIEF - Malta paying too high a price for fish-farming - PD
Worldwide
Sep 16, 19:00 (GMT + 9):
IN BRIEF - Viral Aquaculture Disease Treatment Market to Record an Exponential CAGR by 2025
United Kingdom
Sep 16, 19:00 (GMT + 9):
IN BRIEF - Benchmark Holdings directors shell out GBP 600,000 on shares
Bangladesh
Sep 16, 19:00 (GMT + 9):
IN BRIEF - Fishing bans should accompany compensatory measures
Australia
Sep 16, 19:00 (GMT + 9):
IN BRIEF - Almost 1,500 tonnes of netting waste creates headache for recycling and fishing industries
Malaysia
Sep 16, 19:00 (GMT + 9):
IN BRIEF - Malaysian fish farm aims to dip into USD 1.64bn global caviar market
Spain
Sep 16, 17:00 (GMT + 9):
More than 3,500 sales points join the fresh Norwegian 'fogonero' (Saithe - Pollachius virens) campaign
Spain
Sep 16, 00:00 (GMT + 9):
International Congress of Organizations of Fisheries Producers in Vigo



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Government waives tariffs on US shrimp for first time since the trade war began
China The Chinese government issued tariff exemptions for 16 products for the first time since the start of commercial hostilities between the two countries. HONG KONG - CNN inform that China has just exem...
'Unfair' fee discourages tuna processing and fishing industry
Papua New Guinea The domestic tuna processing and fishing industry is not happy that they are paying the same vessel day scheme (VDS) fee as distant water fishing nations at USD 10,500 (PGK 35,713) per day. PNG Fis...
Fisheries sector defends aid to sustainable fishing and calls for eliminating those that encourage illegal fishing and overfishing
Switzerland Alerts that the elimination of the tax exemption to fuel would create inter-territorial imbalances, increase the prices of fishery products and impact on the profitability of the fleet, especially art...
Weekly movements of fishmeal and fish oil (Norway, China, Peru) Week 36-37
Worldwide Through week 36,  550,311 tonnes of fish were destined for reduction at an average price of NOK 2.85/kg, down 19% on those destined for such purpose during the same period in the previous year. ...
 
Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation -Headquarter-
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Group Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
Mitsubishi Corporation Marine Products Depts. D.Team
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart / Wal-Mart Stores, Inc. (Supermarket) -Headquarter-
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2019 Fish Info & Services Co.Ltd| All Rights Reserved.   DISCLAIMER