The financial results of the Copeinca shows that in the first half of the current year the company achieved an EBITDA of USD 27 million on revenues of USD 102.9 million, 23 percent lower than in H1’08 when it reached USD 35 million on revenues of USD 135.3 million. It is told that the volume sold during the first half of the year was 120,085 MT compared to 135,534 MT in 2008. Higher volumes where sold in H1’08 due to sales from acquired inventories. Revenue per ton was USD 857 in H1’09, down 14.21 percent from USD 999 in H1’08.
According to the company the operating profit was USD 10.5 million in the first half of 2009 compared to the operating profit of USD 19.1 million for the same period in 2008. It is told that in the second quarter 2009 the company has achieved an EBITDA of USD 21.4 million on revenues of USD 61.2 million. The corresponding figures for 2008 were USD 26.3 million and USD 67.3 million, respectively. Revenue per ton was USD 888 during the second quarter 2009 and USD 1,100 in the same period in 2008.
Copeinca finished its first fishing season with ITQ, and it processed 15.44% of the quota (3,420,000 MT) under the new system. During the season COPEINCA produced 120,000 MT of fishmeal and 30,500 MT of fish oil (5.81% yield).
