November 24, 2017 2:18 PM ET

Food Products

Company Overview of Corpesca S.A.

Company Overview

Corpesca S.A. produces and sells fish products worldwide. It offers fish meal and oils, and frozen mackerel products, as well as protein foods of marine, and vegetable and animal origin products. The company was founded in 1999 and is based in Las Condes, Chile. Corpesca S.A. is a subsidiary of Empresas Copec S.A.

Av. El Golf 150

Piso 15

Las Condes,  

Chile

Founded in 1999

Phone:

56 22 476 4000

Key Executives for Corpesca S.A.

Chief Executive Officer
Administration and Finance Manager
Secretary of The Board of Directors
Human Resource Manager
Development Manager
Compensation as of Fiscal Year 2017.

Corpesca S.A. Key Developments

Corpesca Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Corpesca reported earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, net loss was USD 16 million compared to USD 20 million a year ago. Operating income fell USD 35.0 million, but non-operating income increased USD 57.2 million, mainly due to less negative exchange rate differences. For the nine months, the company reported net loss was USD 16 million compared to USD 29 million a year ago, mainly due to non-operating income increasing USD 135.0 million because of favorable exchange rate differences. Operating income fell USD 68.4 million because of fishmeal prices dropping 18.1%, partly offset by fish oil prices increasing 6.7%.

Corpesca Reports Earnings Results for the First Quarter of 2016

Corpesca reported earnings results for the first quarter of 2016. The company had a net loss of $13.4 million in first quarter of 2016, which was down on the $8.7 million loss in 2015. Operating income fell $24.0 million because of fishmeal and fish oil prices dropping 27.3% and 0.4%, respectively.

Corpesca Reports Consolidated Earnings Results for Fourth Quarter and Full Year Ended December 31, 2015

Corpesca reported consolidated earnings results for fourth quarter and full year ended December 31, 2015. For the quarter, the company had a net loss of USD 12.4 million, which was down on the USD 8.1 million loss in 2014. For the year, the loss was USD 17.1 million, which was down on the USD 16.6 million gain in 2014. This decrease is mainly explained by non-operating income dropping USD 77.8 million because of more unfavorable exchange rate differences and losses in associates and joint ventures, largely related to the effects of the depreciation of the real on the debt of the subsidiary Selecta. Operating income rose USD 10.4 million because of fishmeal and fish oil prices increasing 17.1% and 6.6%, respectively. That was partly offset by fishmeal sales volumes dropping 28.6%.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
July 10, 2017
--
Merger/Acquisition
June 12, 2017
Sementes Selecta S/A
Private Placement
May 24, 2017
--
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