September 7, 2009
Peru's Copeinca H1 revenues down 24 percent
Copeinca ASA, one of the largest fishmeal and fish oil producers in Peru, has recorded its first half revenue at US$102.9 million, down 24 percent on-year.
In the first half of 2008, Copeinca's revenues were US$135.3 million while EBITDA reached US$35 million. As a result, Copeinca's EBITDA in the first half of 2009 also fell by 23 percent to US$27 million from US$35 million in the same period last year.
Operating profit reached US$10.5 million, down from US$19.1 million in the year-ago period.
Copeinca sold 120,085 tonnes of products compared to 135,534 tonnes in 2008. Revenue per tonne was US$857, down 14.21 percent on-year from US$999 in the year-ago period.
Copeinca ASA operates six plants located in the Peruvian coast line. The company's key export markets are China, Japan, Germany, Canada, Chile and Denmark, with its customers being fish and animal feed producers, as well as refineries for omega-3 products.