Chile's Blumar Seafoods posted a 45 percent decline in first quarter earnings before interest, taxes, depreciation and amortization (EBITDA) to $9.4 million (€7.7 million).
Results were hit by lower prices in the first three months of this year compared with the same period of 2020 when prices were largely unaffected by the subsequent collapse in foodservice business sparked by the global COVID-19 pandemic.
Conversely, revenue rose 15 percent to $132.8 million (€108.6 million ), lifted by the sale of frozen mackerel in the company's fisheries division.
Blumar's first quarter Atlantic salmon harvest rose 32 percent from a year earlier to 19,139 metric tons.
Although salmon sales were up 39 percent at 17,395 metric tons, average prices dropped 21 percent.
In Blumar's whitefish division, hake production was down 21 percent to 1,548 metric tons, while the
