Camposol Holding Plc.: SECOND QUARTER AND FIRST HALF YEAR 2012 RESULTS
(Thomson Reuters ONE) -
Camposol Holding Plc. reported sales of USD 40.0 million in the second quarter
of 2012, up 34.5% from the corresponding period last year, mainly due to higher
volumes and prices, in the amount of 5.8% and 27% respectively.
For the first six months, the revenues amounted to USD 77.5 million this year
(66.1). The main reasons for the increased revenues during the first half of
2012 were higher selling prices of around 30%, which were partly offset by lower
volumes sold of around 10%.
EBITDA before fair value adjustments (b.f.v.a.) was USD 3.5 million and USD 7.1
million for the second quarter and first half year respectively, up from USD
3.0 million and USD 6.2 million in the corresponding periods last year.
For the first half of the year, the gross profit increased to USD 20.4 million
(19.2), which resulted in a gross margin of 26.3% (29.0%), slightly lower than
during the same period the year before mainly due to lower volumes sold and thus
higher unitary costs.
On June 7th, the Company announced an offer to repurchase own shares. As of
June 16th, after the settlement of the offer, Camposol Holding Plc and its
subsidiaries own 2,968,502 own shares, equivalent to approximately 9.95% of the
total shareholding.
The long term growth prospects for exotic fruits & vegetables markets are
excellent. Avocado and mango are growing, with headroom for increased per
capita consumption in key markets. In the case of asparagus, although
consumption is stable, supply is falling due mainly to reduced exports from
China.
Company expects good demand for all fresh produce in general and for avocado
specifically in both the United States and Europe. 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.
CAMPOSOL will continue positioning itself in the US market, the largest and
fastest growing market for avocado in the world, now open for Peruvian produce
and in other markets with high growth potential.
There has been a mild "El Niño" effect during 2012 which has caused us to
experience a warm winter. This lack of cold hours needed for the growth of the
plants had a negative effect on our volumes of avocado this year and will affect
those of asparagus in the fourth quarter.
Executive Chairman Samuel Dyer Coriat and CFO Jorge Ramirez will host a
conference call today, Wednesday August 15th at 04:00 pm CET/ 09:00 am Lima. For
details on the conference call, please visit Camposol's website:
www.camposol.com.pe
Please see the full report and presentation enclosed (or click on the links
below of this release if received by e-mail).
For further information, please contact:
Executive Chairman, Mr. Samuel Dyer Coriat sdyerc(at)camposol.com.pe
CFO, Mr. Jorge Ramirez jramirez(at)camposol.com.pe
Phone: +511 621-0804
Fax: +511 221-4478
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 7,217 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.
Please visit www.camposol.com.pe
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
CAMPOSOL Q2 2012 PRESENTATION:
http://hugin.info/138464/R/1633934/524481.pdf
CAMPOSOL Q2 2012 CONFERENCE CALL AND WEBCAST INVITATION:
http://hugin.info/138464/R/1633934/524479.pdf
CAMPOSOL Q2 2012 REPORT:
http://hugin.info/138464/R/1633934/524480.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#1633934]
Unternehmensinformation / Kurzprofil:
Datum: 15.08.2012 - 08:00 Uhr
Sprache: Deutsch
News-ID 174935
Anzahl Zeichen: 5660
contact information:
Town:
Lima 13
Kategorie:
Business News
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