Peruvian fishmeal producer Exalmar said its sales for the first six months of 2019 are up sharply owing to higher pre-season fishmeal inventories and stronger mackerel sales for direct human consumption but its earnings before interest, taxes, depreciation and amortization (EBITDA) has fallen.
The company said its sales from January to June 2019 increased some 20% to $146.2 million while EBITDA during the same period dropped by 21% to $37.2m.
The company's Q2 2019 sales and EBITDA were $54.8m and $12.9m, respectively. In Q2 2018 they amounted to $84.5m and $36.2m.
Driving its results for the first six months of 2019, Exalmar said, was the increase in sales volume owing to higher pre-season inventories -- some 57,700 metric tons of fishmeal this season compared to just 600t in 2018. Additionally, mackerel sales for direct human consumption increased 456% for the first six months of 2019, compared to the same period a year prior [...]
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