THIRD QUARTER FINANCIAL RESULTS
(Thomson Reuters ONE) - In the first nine months of the year, Copeinca ASA obtained an EBITDAof USD 48.9 million on revenues of USD 170.9 million, USD 13.6M lowerthan in 2008 when it reached USD 62.5 million on revenues of USD205.4 million.Volume sold during the first nine months of the year was 199,753 MTcompared to 203,374 MT in 2008.Revenue per ton was USD 855 as of September 30, 2009, down 16.56%from USD 1,025 as of September 30, 2008.Operating profit was USD 24.1 million compared to the operatingprofit of USD 37.1 million for the same period in 2008.Cost of goods sold (COGS) in the third quarter 2009 was USD 519/MT(41.4 million), down from USD 573/MT (37.2 million) in thecorresponding period of 2008 due to changes in raw material cost,fishing ban period expenses and other expenses.In the third quarter 2009, COPEINCA ASA reached an EBITDA of USD 27.4million on revenues of USD 68 million. The corresponding figures for2008 were USD 26.3 million and USD 70.1 million, respectively.Revenue per ton was USD 853 during the third quarter 2009, down 21%from USD 1,081 in Q3'08.During August, the Fish Corp frozen plant was sold to PFB Centinela,a Peruvian fishing company. The sale of the plant and its landgenerated revenues of USD 5 million against a book value of 4.7million.As of September 30, 2009, Copeinca sold one plant and has 3 othernon-operating plants out of 12 plants operated before theimplementation of the new ITQ-system. Management plans to operateonly 5 plants and around 25 vessels out of 64 during the secondfishing season.COPEINCA started its second fishing season with ITQ on November 6,with maximum allowable catch limit of anchovy for indirect humanconsumption of 2,000,000 MT.For further information, please contact:CEO Samuel Dyer, sdyerc(at)copeinca.com.peCFO Eduardo Castro-Mendivil, ecastromendi(at)copeinca.com.peTel. (511) 213-4000About Copeinca ASACopeinca ASA is one of the largest fishmeal and fish oil producers inPeru. The Company produces its fishmeal and fish oil from anchovyharvested off the coast of Peru, and most of its production isexported. Key countries for export are China, Japan, Germany, Canada,Chile and Denmark. Typical customers are fish and animal feedproducers as well as refineries for omega-3 products. Copeinca ASAruns its operations out of Lima and has its own fleet. Copeinca ASAoperates 6 plants located in strategic locations all around thePeruvian coast line. The company has around 2,000 part and full timeemployees.Please visit www.copeinca.com.pehttp://hugin.info/137275/R/1355433/328979.pdfhttp://hugin.info/137275/R/1355433/328980.pdfhttp://hugin.info/137275/R/1355433/328981.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 17.11.2009 - 08:02 Uhr
Sprache: Deutsch
News-ID 8474
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