It became aware of an exercise marked by a challenging global scenario for the industry, but also by operational, commercial and financial advances that allowed the company to raise its revenues to US$870.8 million and its EBIT to US$45.6 million. Along with this, it presented its vision on the industry and its prospects for 2026.
At its ordinary shareholders' meeting held this Thursday 15 April, Multi X presented the main results of 2025, a period in which it consolidated improvements in operational performance, commercial management and efficiency, despite an adverse international context for salmon farming. During the session, the company also reported the start of a new commercial phase with its entry into the national market, through the arrival of its products to supermarkets throughout all Chile. In this way, the company seeks to bring Chilean salmon to local consumers and expand its presence beyond the international markets where it is already present and consolidated.
In his presentation to shareholders, the president of Multi X, José Ramón Gutiérrez, stated that "the results of 2025 reflect the consistency of the strategy we have promoted. In an especially challenging environment for the industry, we managed to strengthen our operational efficiency, consolidate productive capacities and deepen a commercial management oriented towards capturing greater value. That leaves us better prepared to continue enhancing our positioning and move towards a business that is increasingly competitive, diversified and with a solid base to grow.
Among the main indicators of the exercise, the company had consolidated revenues of US$870.8 million, an increase of 23.6% compared to 2024. The EBITDA reached US$78.2 million, while the EBIT reached US$45.6 million. This was added to a harvest volume of 118,351 tonnes WFE, the highest in the history of Multi X.
It also highlighted the contribution of the Humboldt Project, an efficiency initiative that drives improvements throughout the company's value chain, and which by the end of 2025 had accumulated savings of approximately US$69.4 million in the cash flow and a positive effect of US$27.7 million on the operating result.
In sectoral matters, it was reported that world production of Atlantic salmon increased unexpectedly by 12% in 2025, reaching 3.15 million tonnes, which put pressure on international prices. This was added to the application of tariffs on imports in the United States, which in the case of Chile reached 10% with effects on the national industry.
Together with reviewing the performance of the year, José Ramón Gutiérrez shared his vision on the industry, highlighting that Chile has especially favorable conditions for salmon farming, although it faces competitiveness challenges linked to the regulatory framework and higher levels of uncertainty for the development of the sector. In that context, he emphasized the importance of moving towards a modernization agenda that allows compatibilize sustainability and growth.
Regarding 2026, the president of Multi X indicated that there is a more favorable scenario in terms of balance between supply and demand in the international salmon markets, although he warned that geopolitical uncertainty will persist. Faced with this, he said that the Multi X strategy will focus on deepening operational efficiency, especially in Farmingstrengthen its trading position in the main markets, advance in the development of value-added products while maintaining financial discipline.
