Camposol Holding reports first quarter 2012 results
(Thomson Reuters ONE) -
Camposol Holding Plc. reported sales of USD 37.5 million in Q1'12, up 2.9% from
Q1'11, mainly due to an increase in sales of asparagus and grapes.
EBITDA before fair value adjustments (b.f.v.a.) was USD 3.6 million, up 16.3%
from Q1'11.
EBITDA (b.f.v.a.) margin is 9.6%, up 1.1% from 2011 due to an increase in sales
of asparagus and grapes.
Last twelve months (LTM) EBITDA as of 30 March 2012 was USD 31.3 million
compared to USD 18.9 million for the LTM as of 30 March 2011.
On January 26th 2012, Camposol S.A., Camposol Holding Plc's subsidiary,
successfully issued a USD 125 MM 9.875% senior unsecured notes due 2017, which
are guaranteed by Camposol Holding Plc as parent guarantor and Marinazul S.A.
and Campoinca S.A. as subsidiary guarantors. Settlement of the bond issue
occurred on February 2nd, 2012. The net proceeds from the bond issue were used
to pay long term debt, to finance capital expenditures and for general corporate
uses. With this transaction, the Company secured its access to a long term
source of financing which is far greater and deeper that the options it had
previously developed.
On 27 February, Mr. Christopher Yetter, a member of the Board of Directors of
Camposol Holding Plc since 2007, presented his resignation. On that same date,
Mr. Sam Aguirre was appointed member of the Board of Directors of Camposol
Holding Plc.
On 12 March, the Company announced an offer to repurchase own shares. As of 26
March, after the settlement of the offer, Camposol Holding Plc owns 1,087,372
own shares, equivalent to approximately 3.64% of the total shareholding.
The Company is currently focused on adding value to its clients through
commercial, marketing and service initiatives which should result on higher
margins. Additionally CAMPOSOL is analyzing new opportunities to consolidate
its leadership through additional planting of current crops, planting of new
crops, strategic alliances and acquisitions.
Company expects good demand for all fresh produce in general and for avocado
specifically in both the United States and Europe. In 2012, the US market is
open for Camposol avocados since the beginning of the season.
Executive Chairman Samuel Dyer Coriat and CFO Jorge Ramirez will host a
conference call today, Thursday 10 May 2012 at 04:00 pm CET/ 08:00 am Lima. For
details on the conference call, please visit Camposol's website:
www.camposol.com.pe (Press / News)
Please see the full first quarter 2012 report and presentation enclosed (or
click on the links below of this release if received by e-mail.
For more information, please see the Company's website, www.camposol.com.pe
For further information, please contact:
Executive Chairman, Samuel Dyer Coriat
sdyerc(at)camposol.com.pe
CFO, Jorge Ramirez
jramirez(at)camposol.com.pe
Phone: +511 621-0800
About CAMPOSOL
CAMPOSOL is the leading agro industrial Company in Peru, involved in the
cultivation, processing and commercialization of agricultural products such as
asparagus, peppers, avocados, mangos, grapes and easy peelers. These are
exported as fresh, preserved or frozen products mainly to markets in Europe and
the United States of America. CAMPOSOL encompasses a totally integrated business
from the production of raw material in the fields to processing in the
industrial plant and subsequent commercialization in Europe and the United
States. CAMPOSOL has 24,216 own hectares of which about 6,440 are already used
for agricultural purposes, operates in 2 different locations in the Peruvian
coast, and has one fully owned processing plant for fresh, preserved and frozen
products. The Company has on average 10,000 part and full time employees.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
CSOL Invitation Q1 2012:
http://hugin.info/138464/R/1610770/512080.pdf
CSOL Q1 2012:
http://hugin.info/138464/R/1610770/512079.pdf
CSOL Q1 2012 Report:
http://hugin.info/138464/R/1610770/512078.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Camposol Holding Plc. via Thomson Reuters ONE
[HUG#1610770]
Unternehmensinformation / Kurzprofil:
Datum: 10.05.2012 - 08:02 Uhr
Sprache: Deutsch
News-ID 144885
Anzahl Zeichen: 5208
contact information:
Town:
Lima 13
Kategorie:
Business News
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