Camposol's LTM EBITDA[1] amounted to USD 96.2MM, net leverage[2] ratio was 1.9x. down from the 2.1x reported last March. During the 2Q-17, Camposol generated an EBITDA of USD 26.1 million, 253%% higher than the EBITDA reported the 2Q-16. EBITDA margin increased to 37.1% from 15.2% reported in 2Q-16. As of June 30th, 2017, the Company maintained a cash balance of USD 27.4 million.
During the 2Q-17, sales 1 were USD 70.4 million, up 44.9% from 2Q-16. This increase was explained by higher sales due to the higher volume and prices of avocados, an increase in revenues from Marinasol (Aquaculture division) due to higher volumes of shrimp.
The Company expects to continue its diversification strategy by; increasing production of the F&V Division (blueberries, avocados and tangerines), converting open pond into intensive pond in in Marinasol - Aquaculture Division (conversion to intensive shrimp ponds), and reinforcing relations with clients adding value to through commercial strategies, marketing and service initiatives.
Perspectives of long-term growth of exotic fruits and vegetables markets are excellent. Avocado and blueberry consumption is growing, with headroom for increased per capita consumption in key markets. The Company expects good demand for all fresh produce in general in both the United States and Europe.
"The Company's strategic decision to focus on fresh and healthy products and to offer a recognized value proposition directly to the retailers, along with a proper execution throughout all our value chain, is what is making possible to deliver these results. We expect that with favorable market trends and a team highly focused on the strategy, we will continue strengthening Camposol as a world class company " stated Jorge Ramirez Rubio, CEO of Camposol Holding Ltd.
Mr. Jorge Ramirez Rubio, CEO and Mr. Andrés Colichón Sas, CFO, will host a conference call today, Thursday August 24th at 10:00 a.m. (Lima). For details on the conference call, please see attached invitation details.
Please see the full second quarter financial results' report and presentation enclosed (or click on the links below of this release if received by e-mail).
For further information, please contact:
Andrés Colichón Sas, CFO
acolichon@camposol.com.pe (mailto:acolichon@camposol.com.pe)
Jossue Yesquen, Head of IR
jyesquen@camposol.com.pe (mailto:jyesquen@camposol.com.pe)
Phone: +511 621 0800 Ext.: 7171
About CAMPOSOL
CAMPOSOL is the leading agro industrial company in Peru, the first producer of avocados and soon the first producer of blueberries in the world. It is involved in the harvest, processing and marketing of high quality agricultural products such as avocadoes, blueberries, grapes, mangos, tangerines and shrimp; which are exported to Europe, the United States of America and Asia.
CAMPOSOL is a vertically integrated company located in Peru, offering fresh and frozen products. It is the third largest private employer of the country, with more than 15 thousand workers in high season, and is committed to support sustainable development through social responsibility policies and projects aimed to increase the shared-value for all of its stakeholders.
CAMPOSOL was the first Peruvian agro industrial company to present annual audited Sustainability Reports and has achieved the following international certifications: BSCI, Global Gap, IFS, HACCP and BRC among others.
To learn more about CAMPOSOL please visit: www.camposol.com.pe (http://www.camposol.com.pe/)[1] Without discontinued operations
[2] Net leverage ratio: (Total Gross Debt - Cash) / LTM EBITDA (1)
Camposol Holding - 2Q-17 Presentation (http://hugin.info/138464/R/2128975/813126.pdf)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Camposol Holding Limited via Globenewswire
