Bigger harvest, lower production costs drive Salmones Camanchaca’s positive Q3 results

Chilean salmon-farming firm Salmones Camanchaca nearly tripled its net profits year over year in the third quarter of 2025, bringing in USD 12.1 million (EUR 10.4 million) compared to the USD 4.1 million (EUR 3.5 million) it posted in the same quarter of 2024.

According to the firm’s latest financial report, its Q3 revenues reached USD 103 million (EUR 88.6 million), which was 43 percent higher than the USD 72.3 million (EUR 62.2 million) achieved during the same period in 2024. The jump was largely due to a 72 percent jump in volume sold of Atlantic salmon, albeit at slightly lower prices than Q3 2024.

Salmones Camanchaca’s EBITDA before fair value for the quarter totaled USD 21.6 million (EUR 18.6 million), marking a USD 12.3 million (EUR 10.6 million) increase compared to the same quarter of 2024.

The company’s Q3 Atlantic salmon harvest amounted to 19,855 metric tons (MT), which was 59.9 percent higher than totals registered during the same quarter of 2024.

At the same time, the firm’s production costs reached USD 3.89 (EUR 3.34) per kilogram of whole fish equivalent (WFE) Atlantic salmon harvested in the three-month period, which was 11 percent lower than that recorded in the same quarter of 2024 thanks to higher average weights, lower feed costs, better sanitary conditions, and improved operational efficiencies, according to the company. 

Additionally, Salmones Camanchaca said it experienced no extraordinary mortalities in the quarter and above-average survival rates overall.

“The company continues to deploy systematic efforts to obtain operational improvements and production efficiencies that allow us, in a weak price scenario such as 2025, to lower costs and increase margins,” Salmones Camanchaca Vice President Ricardo García said in a release. “In addition to the abundance of Norwegian [salmon] this year, we have faced adversity in the main market due to tariffs in the U.S., and we have redoubled our work to diversify and overcome a bad year in prices.”

As a result of the firm’s diversification efforts, during the first nine months of 2025, Salmones Camanchaca sent USD 94.6 million (EUR 81.4 million) worth of salmonids to the U.S. – representing 34.1 percent of the total USD 278 million (EUR 239 million) sold during that time. In comparison, the U.S. represented 39.1 percent of total sales during the same period in 2024. 

That gap has been picked up by Europe and Eurasia this year, which increased its purchasing share to 13.1 percent in 2025 from 8.5 percent in 2024, as well as the rest of Latin America besides Chile, which increased to 33 percent from 25.1 percent over the same period.

Salmones Camanchaca also announced during Q3 it had completed a strategic refinancing agreement with DNB Bank, Cooperative Rabobank U.A., and Banco Santander-Chile in a transaction that provides up to USD 140 million (EUR 120.8 million) in committed credit facilities.

“This renewed support from tier-one global banks and industry specialists underscores the solid fundamentals of Chilean salmon and reaffirms the sector’s favorable long-term outlook,” Garcia said at the time. “Despite regulatory challenges and ideological headwinds that have impacted competitiveness, global financial institutions continue to recognize the sector’s strategic role in ensuring global food security.”

Looking forward, the company expects to achieve a full-year 2025 harvest of 60,000 MT, which García said would be “an important milestone for Salmones Camanchaca.”