CSOL Holding's 1Q-2020 EBITDA amounted to USD 3.7 million and the corresponding EBITDA margin was 5.8%. Sales amounted to USD 63.6 million, up 12.6% compared to 1Q-2019, mainly due to increases in mango and grapes volumes. LTM Sales and EBITDA amounted to USD 333.8 million and USD 117.6 million respectively. As of March 31st, 2020, the Company maintained a cash balance of USD 29.1 million and a net leverage ratio of 3.3x.
The Company continues executing its strategy to become a year-round supplier of fresh fruit to our global clients complementing its Peruvian window operations with investments in Colombia, Uruguay and lately in Chile, and capitalizing on its commercial and logistic platforms.
In January 2020, Camposol returned to the international capital markets with the successful placement of USD 350 million in senior unsecured notes. The proceeds of this issue were used to refinance all the outstanding long-term debt with commercial banks and to finance a portion of expansion CAPEX. "Our lately bond transaction marked our successful return to the international capital markets, with a book that was 6x times oversubscribed. The transaction improved our financial flexibility and levered our capacity to continue deploying our strategy, which is now much more relevant given the uncertainties that arose with the COVID-19 pandemic" stated Jorge Ramirez Rubio, CEO of Camposol.
Please see the first quarter 2020 financial results' report 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
Milagritos Olivero, Controller
molivero@camposol.com.pe
Phone: +511 621 0800 Ext.: 7171
About CAMPOSOL
CAMPOSOL is a vertically integrated producer of branded fresh and healthy food that offers high quality, healthy and fresh food to consumers around the world, based on a sustainable management model. CAMPOSOL is organized into two main business units: Camposol Fruits and Vegetables (fresh produce) and Marinasol (aquaculture) and its portfolio includes superfoods like blueberries, avocados, shrimp, mandarins, among others. Additionally, our international commercial platform is responsible for the commercialization of the products of these two units, with offices in the US, The Netherlands and China.
CAMPOSOL guarantees the full traceability of its products and is committed to supporting sustainable development through social and environmental responsibility policies and projects intended to increase the shared-value for all its stakeholders. On the strength of this value proposition, CAMPOSOL's commercial offices have established long-term relationships with the top worldwide supermarket chains and service them directly.
CAMPOSOL is also an active member of the Global Compact since 2008. It presents annual Sustainability Reports aligned to the GRI Methodology 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
Attachments
- Camposol Holding 1Q - 2020 Report (https://ml-eu.globenewswire.com/Resource/Download/cdf2ba01-c1a3-401b-af9e-1aaf279f17f2)
- Camposol Holding 1Q - 2020 Presentation (https://ml-eu.globenewswire.com/Resource/Download/180139d8-b6f4-4006-bcd1-db7fdc6a473b)
