EMPRESAS AQUACHILE S.A. Corporate Presentation 2013 AQUACHILE Pág. Nº1
INDEX 01 Overview Pág. 03 02 About AquaChile Pág. 09 03 Industry Performance & New Regulation Pág. 28 04 Sustainability and Stakeholders Pág. 36 05 New Developments Pág. 40 AQUACHILE Pág. Nº2
01 Overview AQUACHILE Pág. Nº3
Empresas AquaChile at a glance. AquaChile is a Chilean company that It owns inland farms in Costa Rica and the only three farming licenses granted produces and commercializes Atlantic in the Bayano Lake in Panama to Salmon, Pacific Salmon, Sea Trout and Tilapia. produce Tilapia. It has more than It has operations in Chile, Costa Rica, Panama customers in 30 230 and a commercial office in the United States. countries. It is the largest producer in Chile of Salmon and Sea Trout. It owns 150 sea licenses which provide a solid basis for its growth. Source: Infotrade Pág. Nº4 AQUACHILE
Empresas AquaChile at a glance. Chilean Salmon Companies by Market Cap (MUSD)* 578 Public since 283 281 May 19 th , 2011 163 143 34 Market capitalization of USD 578 millions Source: Bloomberg as of October 30, 2013 Shareholder’s Structure** Main Shareholders: Puchi Family Pension Funds 33,03% Puchi and Fischer Families 4,53% Others 33,95% Others 29,41% Fischer Family 33,03% Source: The Company *As of October 30, 2013 ** As of September 30, 2013 Pág. Nº5 AQUACHILE
2012 Main Chilean Salmon and Sea Trout Exporters (Th. Net Tons) Volume Market Share 51.027 46.604 32.101 10,4% 31.200 30.448 9,5% 26.993 24.190 20.335 6,6% 6,4% 19.122 6,2% 5,5% 5,0% 4,2% 3,9% Source: Infotrade Dic-12 Pág. Nº6 AQUACHILE
25 years of succesful track record. Annual Sales Beginnings 2006 – 2007 Period Crisis Today In MUSD • 3 rd largest world producer • 25 years of history • ISA virus effects • Diversified business model • Merger with Salmones Pacífico • Global presence and • Financial restructuring • Vertical integration Sur reputation • New legal framework focused • High growth potential • Track record forming strategic • IPO and acquisition plans in long term sustainability • Industry consolidation capacity alliances • Advantages of diversification • Sustained growth Revenues In MUSD 410 2012 Source: The Company Pág. Nº7 AQUACHILE
Focus in diversification for success. % of Consolidated % of Consolidated Geographic Sales (tons) Sales (US$ ) Diversification Atlantic Salmon 17% 19% X and XI Region Sea Trout 36% 31% X and XI Region Pacific Salmon 20% 16% X and XI Region Tilapia 25% 15% Bayano Lake Guanacaste Source: The Company as of December 31, 2012 Pág. Nº8 AQUACHILE
02 AquaChile AQUACHILE Pág. Nº9
AquaChile: Strong organic growth plan based on unique assets Sea Water: High quality and diversified license portfolio Fresh Water: Flexibility and excess installed capacity Processing: Installed capacity to absorb growth Vertical integration throughout the value chain Global presence and reputation Pág. Nº10 AQUACHILE
Sea water: Unique, diversified and large license portfolio. One of the largest sea licenses base and the largest presence within sanitary areas in the Chilean industry. 150 * Sea licenses distributed in 29 Sanitary Areas -Geographic distribution -Organic growth capacity -Operational and productive continuity -Continuous supply to clients -Species diversification -Natural, climate and sanitary risk diversification * Include 7 brackish water licenses Pág. Nº11 AQUACHILE
Sea water: Unique, diversified and large license portfolio. Los Lagos Region Geographical INDUSTRY Total of 24 sanitary areas diversification in sea licenses for Salmon AQUACHILE and Sea Trout 55 sea licenses in 12 sanitary areas production. 50% of sanitary areas of the Los Lagos Region Aysen Region INDUSTRY Total of 34 sanitary areas AQUACHILE 95 sea licenses and 17 sanitary areas 50% of sanitary areas of the Aysen Region Sea licenses Sanitary areas Pág. Nº12 AQUACHILE
Tilapia Costa Rica & Panama: Large water volume and favorable climate. Costa Rica Geographical diversification in Tilapia production -Strategic access to large volumes of high-quality water Costa Rica Guanacaste -Optimal location for logistics Bayano Lake -21,000 tons WFE capacity Panama Panama -The Company has the only three tilapia farming licenses granted in the Bayano Lake -Potential to produce over 20,000 ton WFE Pág. Nº13 AQUACHILE
AquaChile: Strong organic growth plan based on unique assets Sea Water: High quality and diversified license portfolio Fresh Water: Flexibility and excess installed capacity Processing: Installed capacity to absorb growth Vertical integration throughout the value chain Global presence and reputation Pág. Nº14 AQUACHILE
Fresh water: Flexibility and excess installed capacity. 24 * Geographical hatcheries from the IX th Region to diversification in fresh water. the XI th Region, including 1 hatchery near Santiago. 14 ** fresh water farming licenses in the X th and XI th Regions for Sea Trout and Coho smoltification. 1 River licenses in the XV th Regions for Atlantic Salmon smoltification. 7 brackish water licenses in the XI th Region for Coho smoltification. * Seven of them are rented under long term contract ** Two of them are rented under long term contract Pág. Nº15 AQUACHILE
AquaChile: Strong organic growth plan based on unique assets Sea Water: High quality and diversified license portfolio Fresh Water: Flexibility and excess installed capacity Processing: Installed capacity to absorb growth Vertical integration throughout the value chain Global presence and reputation Pág. Nº16 AQUACHILE 16
Processing: Installed capacity to absorb growth. 7 plants with a total capacity of 190,000 WFE tons, including one of the largest plant in the World Current production capacity of AquaChile’s processing plants In thousands of WFE tons 50,0 36,7 34,4 26,0 21,6 21,0 Cardonal Cailín Hueñocoihue Antarfood Calbuco Costa Rica Value Value Whole Whole Value Value Plant Type Added Added Salmon Salmon Added Added PAC-HACCP Yes Yes Yes Yes Yes Yes Certification Puerto Location Quellón Dalcahue Chonchi Calbuco Guanacaste Montt Source: The Company Pág. Nº17 AQUACHILE
Processing: Installed capacity to absorb growth. Chile Costa Rica Diversity of Salmon Products Diversity of Tilapia Products Whole HG Trim C Fillets Whole Trim D Trim E Portions Breaded Fillets Pág. Nº18 AQUACHILE
AquaChile: Strong organic growth plan based on unique assets Sea Water: High quality and diversified license portfolio Fresh Water: Flexibility and excess installed capacity Processing: Installed capacity to absorb growth Vertical integration throughout the value chain Global presence and reputation Pág. Nº19 AQUACHILE
Vertical integration troughout the value chain. AquaChile is vertically integrated in the Salmon and Tilapia business. INTEGRATION The Company adds value to all of its productive chain, from genetics up to commercialization. SALMON AND SEA TROUT FRESH WATER SEA WATER Eggs & Smolts Farming GENETICS PROCESSING COMMERCIALIZATION FEED TILAPIA FRY FARMING PRODUCTION COMMERCIALIZATION PROCESSING GENETICS FEED* FEED Pág. Nº20 AQUACHILE
Genetics: 15 years of succesfull and proven genetic development. Aquainnovo: Created to be a world class center for genetic improvement in aquaculture Increase in harvest weight of the Pacific Salmon In WFE kg AquaChile 99,88% ∆ +40% Universidad de Chile 0,12% Source: The Company Improvement in Tilapia conversion factor of ACI Group Reduction in the Tilapia’s on growing cycle In number of days Δ-36% Δ-21% Source: The Company Source: The Company Pág. Nº21 AQUACHILE
Genetics: 15 years of succesfull and proven genetic development. Genetics in Salmon and Sea Trout Genetics in Tilapia Pág. Nº22 AQUACHILE
Fish feed plant: State of the art assets to feed our fish. Joint venture with Biomar in Chile, one of the world’s leading suppliers of high performance fish feed. 126,000 tons of installed capacity. Modular design allows the company to double its output capacity. Pág. Nº23 AQUACHILE
AquaChile: Strong organic growth plan based on unique assets Sea Water: High quality and diversified license portfolio Fresh Water: Flexibility and excess installed capacity Processing: Installed capacity to absorb growth Vertical integration throughout the value chain Global presence and reputation Pág. Nº24 AQUACHILE
Commercialization: Global presence and reputation. AquaChile has over 230 clients in more than 30 countries in the five continents We have more than 19 years of experience in Asia and over 20 years in the fresh salmon market Destination of AquaChile’s main Salmon, Sea Trout and Tilapia sales In net tons 6.870 268 274 146 157 127 16.577 84 5.563 6.709 127 3.690 54 810 1.505 793 2.018 21 32 78 1.230 , 1.859 Tilapia 132 127 23 1.012 Salmon 867 2.094 Operations Salmon and Sea Trout sales 2012 (net tons) Tilapia Sales 2012 (net tons) Source: The Company Pág. Nº25 AQUACHILE
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