Chilean salmon farmer Camanchaca swung to a third-quarter loss in earnings before interest, tax, depreciation and amortization (EBITDA) of $3.7 million (€3.1 million) on sharply lower prices and continued reduced demand due to the COVID-19 pandemic.
The result compares with EBITDA of $19.2 million (€16.3 million) in the third quarter of 2019.
Prices were down 24 percent.
With foodservice orders having fallen through the floor following the onset of the coronavirus crisis, the company assigned 87 percent of its production to value-added items in the third quarter.
