Chilean seafood giant Camanchaca said group operating profit fell sharply in 2023 as the company's salmon producing division suffered from higher costs, lower prices and weak second-quarter salmon demand.

The company's earnings before interest, taxes, depreciation and amortization (EBITDA) came in at $90 million (€83.2 million), 27 percent below the previous 12 months.

Revenue increased 5 percent over 2022 numbers to $762 million (€704 million) as the company's fisheries arm benefited from much higher fish oil prices and increased frozen horse mackerel sales.