Chilean salmon company Nova Austral reported an increase in earnings in the second quarter of the year based on higher volumes, claiming its “critical competitive advantage remains in place and is not affected by the recent compliance difficulties.”
Earnings before interest, taxes, depreciation and amortization (EBITDA) were $9 million ($8.2 million), a 43 percent increase year-on-year.
Sales over the period were $33.9 million (€30.9 million), up 4 percent compared with the same period last year.
The increase in earnings was driven by lower production costs and higher sales volume, and despite a decrease in average salmon prices over the period.
