Salmones Camanchaca S A : Financial Statements 2022 - Q2

SALMONES CAMANCHACA S.A. AND SUBSIDIARIES

Interim consolidated financial statements

As of June 30, 2022

CONTENTS

Interim consolidated statements of financial position

Interim consolidated statements of changes in equity

Interim consolidated statements of net income by function

Interim consolidated statements of comprehensive income

Interim consolidated statements of cash flows - direct method

Notes to the interim consolidated financial statements

Board of directors statement of responsability

ThUS$ - Thousands of US dollars

UF - Unidades de fomento (a Chilean peso based inflation indexed currency unit) ThCh$ - Thousands of Chilean pesos

EY Chile	Tel: [phone]
Arturo Prat 199, Torre A	www.eychile.cl
Oficina 509, piso 5
Concepción

REPORT OF THE INDEPENDENT AUDITOR (Translation of the report originally issued in Spanish)

To the Board of Directors and Shareholders of Salmones Camanchaca S.A.

We have reviewed the accompanying interim consolidated statement of financial position of Salmones Camanchaca S.A. and its subsidiaries as of June 30, 2022, and the related interim consolidated statements of income by function and interim consolidated statement of comprehensive income for the six and three-month periods ended June 30, 2022 and 2021, and the related interim consolidated statement of cash flow and interim consolidated statement of changes in equity for the six-month period then ended.

Management's Responsibility for the Interim Consolidated Financial Statements

Management is responsible for the preparation and fair presentation of the interim financial information in accordance with IAS 34 "Interim Financial Reporting" of the International Financial Reporting Standards (IFRS). This responsibility includes the design, implementation and maintenance of internal control sufficient to provide a reasonable basis for the preparation and fair presentation of the interim financial information in accordance with the applicable framework for the preparation and presentation of financial information.

Auditor's Responsibility

Our responsibility is to perform our review in accordance with the Chilean auditing standards applicable for the review of interim financial information. A review of interim financial information consists principally of applying analytical procedures and making inquiries of persons responsible for financial and accounting matters. It is substantially less in scope than an audit conducted in accordance with generally accepted auditing standards in Chile, the objective of which is the expression of an opinion regarding the financial information taken as a whole. Accordingly, we do not express such an opinion.

Conclusion

Based on our review, we are not aware of any material modifications that should be made to the accompanying consolidated interim financial information, for them to be in conformity with IAS 34 "Interim Financial Reporting" of the International Financial Reporting Standards.

Other Matters

Report on the consolidated statement of financial position as of December 31, 2021

On February 23, 2022, we issued an unqualified opinion on Salmones Camanchaca S.A.'s consolidated financial statements as of December 31, 2021, in which the consolidated statement of financial position is included as of December 31, 2021, which was presented in the accompanying interim consolidated financial statements, along with the related notes.

Concepción, August 17, 2022

	CONTENTS
INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
INTERIM CONSOLIDATED STATEMENTS OF NET INCOME BY FUNCTION
INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS, DIRECT METHOD
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
BOARD OF DIRECTORS STATEMENT OF RESPONSABILITY
NOTE 1 - GENERAL INFORMATION...............................................................................................	1
NOTE 2.- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES..............................................	2
2.1	Periods covered.................................................................................................................................	2
2.2	Basis of preparation..........................................................................................................................	2
2.3	New pronouncements ......................................................................................................................	3
2.4	Basis of consolidation.......................................................................................................................	7
2.5	Investments in Associates...............................................................................................................	8
2.6	Segment reporting...........................................................................................................................	8
2.7	Foreign currency transactions ........................................................................................................	8
2.8	Property, plant, and equipment......................................................................................................	9
2.9	Biological assets..............................................................................................................................	10
2.10	Intangible assets other than goodwill ...........................................................................................	12
2.11	Interest costs...................................................................................................................................	12
2.12	Impairment losses on non-financial assets...................................................................................	13
2.13	Financial assets and liabilities .......................................................................................................	13
2.14	Inventories ......................................................................................................................................	14
2.15	Statement of Cash Flow..................................................................................................................	15
2.16	Classification of Current and Non-Current Balances...................................................................	16
2.17	Earnings per Share .........................................................................................................................	16
2.18	Trade and other receivables...........................................................................................................	16
2.19	Cash and cash equivalents .............................................................................................................	17
2.20	Share capital ...................................................................................................................................	17
2.21	Trade and other payables, current.................................................................................................	17
2.22	Current and deferred income taxes ...............................................................................................	17
2.23	Employee benefits ..........................................................................................................................	18
2.24	Provisions........................................................................................................................................	18
2.25	Revenue recognition.......................................................................................................................	18
2.26	Leasing ............................................................................................................................................	19
2.27	Dividend policy..............................................................................................................................	20
2.28	The environment ............................................................................................................................	21
2.29	Fair value calculation .....................................................................................................................	21

2.30 Investments under the Austral Law .............................................................................................	22
NOTE 3 - FINANCIAL RISK MANAGEMENT................................................................................	22
3.1.	Credit risk.......................................................................................................................................	22
3.2.	Liquidity risk..................................................................................................................................	22
3.3.	Market risk.....................................................................................................................................	23
NOTE 4 - FINANCIAL INSTRUMENTS ..........................................................................................	24
NOTE 5 - SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS ..................................	25
NOTE 6 - CASH AND CASH EQUIVALENTS .................................................................................	26
NOTE 7 - TRADE AND OTHER RECEIVABLES.............................................................................	27
NOTE 8 - BALANCES AND TRANSACTIONS WITH RELATED PARTIES ..................................	28
NOTE 9 - INVENTORIES .................................................................................................................	30
9.1	Information on finished products ................................................................................................	30
9.2	Reconciliation of finished products..............................................................................................	30
NOTE 10 - BIOLOGICAL ASSETS ...................................................................................................	31
NOTE 11 - OTHER CURRENT AND NON-CURRENTNON-FINANCIAL ASSETS.......................	32
NOTE 12 - EQUITY METHOD INVESTMENTS ..............................................................................	32
NOTE 13 - CURRENT AND NON-CURRENT TAX ASSETS ..........................................................	33
NOTE 14 - INTANGIBLE ASSETS OTHER THAN GOODWILL.....................................................	34
NOTE 15 - PROPERTY, PLANT AND EQUIPMENT .......................................................................	37
NOTE 16 - INCOME AND DEFERRED TAXES ...............................................................................	39
NOTE 17 - OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES ........................	40
NOTE 18 - LEASE LIABILITIES.......................................................................................................	45
NOTE 19 - TRADE AND OTHER PAYABLES ................................................................................	45
NOTE 20 - OTHER PROVISIONS .....................................................................................................	46
NOTE 21 - EMPLOYEE BENEFIT PROVISIONS.............................................................................	46
NOTE 22 - EQUITY...........................................................................................................................	47
NOTE 23 - EARNINGS PER SHARE.................................................................................................	49
NOTE 24 - OPERATING REVENUE.................................................................................................	49
NOTE 25 - ADMINISTRATIVE EXPENSES ....................................................................................	50
NOTE 26 - DISTRIBUTION COSTS..................................................................................................	51
NOTE 27 - FINANCIAL INCOME AND COSTS...............................................................................	51
NOTE 28 - EXCHANGE DIFFERENCES..........................................................................................	52
NOTE 29 - OTHER INCOME (LOSSES) ...........................................................................................	53
NOTE 30 - ASSETS AND LIABILITIES IN FOREIGN CURRENCIES ............................................	54
NOTE 31 - GUARANTEES AND CONTINGENCIES .......................................................................	55
NOTE 32 - SANCTIONS....................................................................................................................	56
NOTE 33 - THE ENVIRONMENT ....................................................................................................	56
NOTE 34 - SUBSEQUENT EVENTS.................................................................................................	57