Chilean salmon farmer Salmones Austral overturned a $3.8 million (€3.5 million) first quarter loss in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) in the same quarter last year to a record $19.9 million (€18.5 million) in EBITDA this time around, supported by sharply higher salmon prices.
Revenue totaled $104.9 million (€97.3 million), a more than 27 percent increase from a year earlier.
This came despite a 7 percent fall in sales volume in the first three months of 2022 to 18,100 metric tons after a large part of the company's coho harvest in the third quarter of 2021 was sold throughout the year, whereas the same harvest in 2020 was sold and shipped between January and March 2021.
