Chilean salmon farmer Blumar reported a $9.6 million (€8.1 million) third-quarter loss in earnings before interest, tax, depreciation and amortization (EBITDA) as a steep drop in fish prices amid the COVID-19 pandemic hit results.
The result compares with EBITDA of $34.9 million (€29.6 million) in the third quarter of 2019.
Revenues rose 25 percent from a year earlier to $115.9 million (€29.6 million) as salmon sales more than tripled to 18,266 metric tons.
But Atlantic salmon prices were down 38 percent during the period and the cost of farmed fish sales doubled.
