Australis CFO: Chilean industry slowly recovering banks' trust

Both international and national entities are willing to increase their exposure in the industry.

Moises Saravia, chief financial officer of Chilean salmon farmer Australis, said the industry’s improved situation is attracting banks both domestically and internationally.

Saravia said Australis’ strong results were explained not just by the strong prices of salmon but also by a reduction of costs that was possible through some investments made by the company to improve efficiency.

As a result, the financial plan for the company this year, he said, is to further reduce liabilities, and is based mainly on the company’s projected revenue.

Saravia also said that although banks have been reluctant to enter the salmon farming in the past, they are looking increasingly interested in giving loans to salmon companies in the country.

“Both national and foreign banks have showed interest to increase their exposure and financially support the industry due to the current positive results,” Saravia said.

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