February 7, 2014

Copeinca successfully managed to process 15.6% of total catch in 2013 against 14.8% in 2012, while revenue increased 7.9% from US$49.3 million in fourth quarter 2012 to US$53.2 million in fourth quarter 2013.

Earnings before interests, taxes, depreciation and amortisations (EBITDA) increased 115.4% from US$7.8 million in fourth quarter 2012 (EBITDA margin 15.7%) to US$16.8 million in fourth quarter 2013 (EBITDA margin 31.6%).

On November 12, 2013, the 2013 second fishing season began and was finished on January 31, 2014 and the total allowable catch (TAC) for this season was 2,304,000 tonnes (TAC for 2012 second fishing season was 810,000 tonnes). 

Copeinca's revenue per tonne for the year increased 16.8% to US$1,663/tonne from US$1,424/tonne in 2012. This included revenue of US$4.5 million from the sale of Mackerel and Jack Mackerel as compared to revenue of US$4.3 million in 2012. Revenue per tonne in fourth quarter 2013 decreased 3.3% to US$1,498/tonne from US$1,549/tonne in fourth quarter 2012. Capital expenditure (CAPEX) of US$14.0 million was spent during the year.