Salmones Camanchaca S A : Financial Statements 2023 - Q2

SALMONES CAMANCHACA S.A. AND SUBSIDIARIES

Interim consolidated financial statements

As of June 30, 2023

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

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

Review Report of the Independent Auditor

Shareholders and Directors

Salmones Camanchaca S.A.

Result of the Interim Consolidated Financial Information Review

We have reviewed the accompanying interim consolidated financial statements of Salmones Camanchaca S.A. and subsidiaries, which comprise the interim consolidated statement of financial position as of June 30, 2023, and the related interim consolidated statements of comprehensive income for the six and three-month periods ended June 30, 2023 and 2022, the interim consolidated statements of changes in equity and cash flows for the six-month periods then ended, and the related notes to the interim consolidated financial statements (collectively referred to as interim consolidated financial information).

Based on our review, we are not aware of any significant modifications that should be made to the accompanying interim consolidated financial information to bring it into conformity with IAS 34, "Interim Financial Reporting" as incorporated into the International Financial Reporting Standards.

Basis for the results of the interim review

We conducted our review in accordance with Generally Accepted Auditing Standards in Chile applicable to reviews of interim financial information. A review of interim financial information consists primarily of applying analytical procedures and making inquiries of persons responsible for accounting and financial matters. A review of interim financial information is substantially less in scope than an audit performed in accordance with Generally Accepted Auditing Standards in Chile, the objective of which is to express an opinion on the interim financial information as a whole. Therefore, we do not express such an opinion. In accordance with the ethical requirements relevant to our review, we are required to be independent of Salmones Camanchaca S.A. and to comply with our other ethical responsibilities in accordance with such requirements. We believe that the results of the review procedures provide us with a reasonable basis for our conclusion.

Management's Responsibility for the Interim Consolidated Financial Information

Management of Salmones Camanchaca S.A. is responsible for the preparation and fair presentation of the interim consolidated financial information in accordance with IAS 34, "Interim Financial Reporting" incorporated in the International Financial Reporting Standards. This responsibility includes designing, implementing and maintaining a relevant internal control to the preparation and fair presentation of the consolidated interim financial information that is free from material misstatement, whether due to fraud or error.

Other matters - Consolidated statement of financial position as of December 31, 2022

On February 22, 2023, we issued an unmodified opinion on the consolidated financial statements as of December 31, 2022 and 2021 of Salmones Camanchaca S.A. and subsidiaries, which include the consolidated statement of financial position as of December 31, 2022 presented in the accompanying interim consolidated financial statements and the related notes.

Concepción, August 16, 2023

	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
NOTE 1 - GENERAL INFORMATION	1
NOTE 2.- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2
2.1	Period 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	9
2.7	Foreign currency transactions	9
2.8	Property, plant, and equipment	10
2.9	Biological assets	11
2.10	Intangible assets other than goodwill	12
2.11	Interest costs	13
2.12	Impairment losses on non-financial assets	13
2.13	Financial assets and liabilities	13
2.14	Inventories	15
2.15	Statement of Cash Flow	16
2.16	Classification of Current and Non-Current Balances	16
2.17	Earnings per Share	17
2.18	Trade and other receivables	17
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	18
2.23	Employee benefits	18
2.24	Provisions	18
2.25	Revenue recognition	19
2.26	Leasing	20
2.27	Dividend policy	21
2.28	The Environment	21
2.29	Fair value calculation	21
2.30	Investments under the Austral Law	22

NOTE 3 - FINANCIAL RISK MANAGEMENT	23
3.1.	Credit risk	23
3.2.	Liquidity risk	23
3.3.	Market risk	24
NOTE 4 - FINANCIAL INSTRUMENTS	24
NOTE 5 - SIGNIFICANT ACCOUNTING ESTIMATES AND JUDGMENTS	26
NOTE 6 - CASH AND CASH EQUIVALENTS	27
NOTE 7 - TRADE AND OTHER RECEIVABLES	27
NOTE 8 - BALANCES AND TRANSACTIONS WITH RELATED PARTIES	28
NOTE 9 - INVENTORIES	31
NOTE 10 - BIOLOGICAL ASSETS	32
NOTE 11 - OTHER CURRENT AND NON-CURRENTNON-FINANCIAL ASSETS	33
NOTE 12 - EQUITY METHOD INVESTMENTS	34
NOTE 13 - Current and non-current tax assets	34
NOTE 14 - INTANGIBLE ASSETS OTHER THAN GOODWILL	35
NOTE 15 - PROPERTY, PLANT AND EQUIPMENT	38
NOTE 16 - INCOME AND DEFERRED TAXES	40
NOTE 17 - OTHER CURRENT AND NON-CURRENT FINANCIAL LIABILITIES	41
NOTE 18 - LEASE LIABILITIES	46
NOTE 19 - TRADE AND OTHER PAYABLES	46
NOTE 20 - OTHER PROVISIONS	47
NOTE 21 - EMPLOYEE BENEFIT PROVISIONS	47
NOTE 22 - EQUITY	48
NOTE 23 - EARNINGS PER SHARE	50
NOTE 24 - OPERATING REVENUE	50
NOTE 25 - ADMINISTRATIVE EXPENSES	51
NOTE 26 - DISTRIBUTION COSTS	52
NOTE 27 - FINANCIAL INCOME AND COSTS	52
NOTE 28 - EXCHANGE DIFFERENCES	53
NOTE 29 - OTHER INCOME (LOSSES)	54
NOTE 30 - ASSETS AND LIABILITIES IN FOREIGN CURRENCIES	54
NOTE 31 - GUARANTEES AND CONTINGENCIES	56
NOTE 32 - SANCTIONS	56
NOTE 33 - THE ENVIRONMENT	57
NOTE 34 - SUBSEQUENT EVENTS	57