Despite an increase in revenues in the third quarter, earnings for Chilean salmon farmer Nova Austral are down, thanks to a combination of lower market prices as well as an increase in costs for the company, including distribution costs and legal fees.
The company reported operational earnings before interest, tax, depreciation and amortization (EBITDA) for the third quarter of the year of $9.1 million (€8.2 million), a 71 percent drop year-on-year.
Operational EBIT per kilo in the quarter was $1.60
