Multi X

MULTIX:CI CL0000002395
Key Information
HQ:
Chile
Market Cap:
$0.41bn
Primary Markets:
MENA, LATAM



Company Information

Company Summary

Multi X provides seafood products in Chile and internationally. It offers Atlantic salmons, mussels, and salmon trout, as well as smoked products. The company was formerly known as Aquafarms SA and changed its name to Multiexport Foods S.A. in May 2007. The Company’s products are exported to over 30 countries, located in the Americas, Europe and Asia. The Company operates through a number of subsidiaries, such as Salmones Multiexport SA. Multiexport Dos SA controls the Company. Multiexport Foods S.A. was founded in 1983 and is based in Puerto Montt, Chile.
Multi X

Revenue

Total revenue:

$0.6bn

Revenue by Geography

Revenue by Protein

Revenue by Product Type

Note: This financial breakdown is based on Annual reports released in 2022, containing, in most cases, FY2021.


Disclosures

CDP ScoresLast Reviewed: 11/10/2023

CDP ClimateCDP ForestsCDP Water
YesNoNo

Science Based Target InitiativeLast Reviewed: 03/10/2023

Target classificationStatusDate
Has not set SBT--

Coller FAIRR Protein Producer Index

Analysis Overview

Index-Radar-2023
Greenhouse Gas Emissions Deforestation & Biodiversity Water Use & Scarcity Waste & Pollution Antibiotics Animal Welfare Working Conditions Food Safety Sustainability Governance Alternative Proteins

Analysis Breakdown

Risk Score

55/100
Medium Risk



Greenhouse Gas Emissions

41/100

Scope 1, 2 & 3 Target
25/100
Type of Target
0/3
Strength of Target - Non-SBT
1.25/2
Source(s): Sustainability Report 2022, page 7, 101, 104

Innovation on GHG Emission Reduction
60/100
Innovation to Reduce Agriculture Emissions
0/1
Feed Farming Innovation
1/2
Animal Farming Innovation
2/2
Source(s): Multi X launches innovative feeding project based on insect meal Webpage; Sustainability Report 2022, page 103, 105

Quality of GHG Inventory
100/100
Quality and scope of GHG inventory Completeness
1.5/1.5
Feed & Animal Farming Emissions
2/2
Transparency of GHG Inventory
1.5/1.5
Source(s): CDP Website; Sustainability Report 2022, page 3, 101, 102, 103, 137

Emissions Performance
5/100
Overall Emission Performance
0.25/5
Source(s): Sustainability Report 2021, page 89, 90; Sustainability Report 2022, page 102, 103

Climate-related Scenario Analysis
15/100
Climate-related Scenarios Analysis Conducted
0/1
Disclosure of Analysis Results on Material Risks
0.75/3
Disclosure of Financial Material Events & Alignment of CAPEX
0/1
Source(s): ESG Supporting Document DJSI 2023, page 19; Sustainability Report 2022, page 44



Deforestation & Biodiversity

65/100

Deforestation/Conversion-free Target - Soy for Animal Feed
75/100
Risk Assessment to Identify High-risk Locations
0/0.5
Strength of Deforestation Commitment
1.5/2
Regional & Operational Coverage of Commitment
1.25/1.25
Transparency - Progress Against Commitment
1/1.25
Source(s): ProTerra News Webpage; Sustainability Report 2022, page 25, 91, 93, 136

Engagement, Monitoring & Traceability - Soy for Animal Feed
65/100
Supplier Engagement
0.25/1.25
Compliance monitoring & Traceability
2.5/3.25
Feed Innovation
0.5/0.5
Source(s): General Terms and Conditions for Suppliers 2020, page 3; Sustainability Report 2022, page 91, 93, 136; Sustainable Feed Policy, page 6; Sustainable Feed Policy 2021, page 6

Aquaculture Certification (ASC, BAP, GlobalGAP, SSP)
100/100
Proportion of Farms Certified
5/5
Source(s): Sustainability Report 2022, page 106, 107

Feed Ingredients & Conversion Ratios
55/100
Feed Disclosure
1.75/2
Performance of Feed Metrics
1/3
Source(s): Sustainability Report 2022, page 91, 92, 93

Feed Innovation
20/100
Strategy
0.25/2.75
Performance
0.75/2.25
Source(s): Sustainability Report 2022, page 7, 8, 91

Sea Lice Management - Salmon (Fish at Sea Only)
67/100
Sea Lice Disclosure & Management
2/2
Cleaner Fish
0/3
Source(s): Sea Lice Counts Website; Sustainability Report 2022, page 80, 134

Ecosystem Impacts
75/100
Escapes
2.5/3.25
Reducing Biodiversity Impacts
0.75/1.25
Algal Blooms
0.5/0.5
Source(s): GSI Website; Plan of Prevention and Mitigation of Losses due to Algal bloom 2021 English, page 1, 2; Sustainability Report 2022, page 24, 44, 86, 87, 134



Water Use & Scarcity

13/100


Water Use & Scarcity in Feed Farming
13/100
Supplier Engagement in Water Use in Feed Farming
0/2.5
Disclosure of Water Risks in Feed Farming
0.5/1.5
Source(s): Sustainability Report 2022, page 92, 98, 99; Sustainable Feed Policy



Waste & Pollution

16/100

Wastewater at Facilities
30/100
Disclosure & Targets for Wastewater Quality & Volume Discharged
1/1.5
Transparency on Water Pollution Risks
0/2
Performance on Wastewater Quality & Volume Discharged
0.5/1.5
Source(s): GSSI Sustainability Indicators - Multi-X; Multi X plant stops sending waste to landfill 2021 Webpage; Sustainability Report 2021, page 86; Sustainability Report 2022, page 89, 95, 97, 98

Nutrient Management in Feed Farming
11/100
Supplier Engagement in Nutrient Pollution Risks
0/4
Innovation to Improve Nutrient Management in Feed Farming
0.56/1
Source(s): Sustainability Report 2022, page 86

Nutrient Management in Aquaculture
8/100
Disclosure of Pollution Risks in Animal Farming Operations
0.38/4.5
Performance on Pollution Management
0/0.5
Source(s): Commitment for a Responsible Relationship with Communities; Sustainability Report 2021, page 77; Sustainability Report 2022, page 2, 25, 86, 89, 109



Antibiotics

88/100

Policy on Antibiotics Use
80/100
Policy on Antibiotics Use
4/5
Source(s): Sustainability Report 2022, page 77, 78

Disclosure of Quantity of Antibiotics Used
95/100
Disclosure of Quantity of Antibiotics Used
4.75/5
Source(s): Sustainability Report 2022, page 78, 132



Animal Welfare

68/100


Aquatic Animal Welfare
50/100
Welfare Policy
0.5/2.5
Reporting on Animal Welfare Metrics
2/2
Reporting on Measures to Improve Welfare
0/0.5
Source(s): Animal Welfare Statement 2019, page 1, 3; Sustainability Report 2022, page 75, 76

Disease Management - All Fish
85/100
Mortality Rates
3.5/3.5
Disease Outbreak
0.75/1.5
Source(s): Sustainability Report 2022, page 75, 77, 79, 81, 82



Working Conditions

64/100

Human Rights
65/100
Strength of Policy
1/1
Due Diligence Process
1.5/3
Evidence of Remediation
0.75/1
Source(s): ESG Supporting Document DJSI 2023, page 26, 32; Human Rights Policy 2022, page 1, 4; Sustainability Report 2021; Sustainability Report 2022, page 65

Fair Working Conditions
61/100
Policy for Direct Operations
1.8/3
Monitoring & Discosure
1.25/2
Source(s): General Terms and Conditions for Suppliers 2020, page 2, 4, 5, 6; Human Rights Policy 2022, page 1, 2, 3; Sustainability Report 2022, page 41, 63, 64, 65, 67

Safety & Turnover Data
75/100
Committee representation of workers
0.75/2
Disclosure of safety and turnover data
3/3
Source(s): ESG Supporting Document DJSI 2023, page 18, 31; Sustainability Report 2022, page 58, 60, 132

Freedom of Association
55/100
Strength of Policies
1.5/3
Disclosure of Collective Bargaining Metrics
1.25/2
Source(s): General Terms and Conditions for Suppliers 2020, page 5; Human Rights Policy 2022; Sustainability Report 2022, page 50, 61, 65



Food Safety

88/100

Food Safety System
75/100
Certifications
2.75/3.5
Performance
1/1.5
Source(s): BAP Certificate 2023; GSI Digital Transformation Webpage; Sustainability Report 2022, page 24, 45, 46, 85, 107, 124

Product Recalls & Market Bans
100/100
Product Recall Systems
3/3
Performance
2/2
Source(s): Product Recall System 2020 English, page 1; Sustainability Report 2022, page 125



Sustainability Governance

51/100

Assessment of a Company's Sustainability Governance
51/100
Board Sustainability
1.25/2
Incentives & Policy Engagement
0.8/2.5
Innovation & Benchmarking
0.5/0.5
Source(s): Board of Directors Webpage; Corporate Governance; MULTI X CLIMATE LOBBYING AND TRADE ASSOCIATION COMMITMENT, page 1; Sustainability Report 2022, page 3, 21, 23, 35, 38, 39, 40; Sustainability webpage



Alternative Proteins

0/100

Diversification of Products to Alternative Protein Sources
0/100
Existing product portfolio
0/2.5
Investing for future growth
0/2.5
Source(s):

Members-only supplement

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