Camposol Holding Plc reports Second Quarter and First Half Year 2013 Results
(Thomson Reuters ONE) -
Volume sold during the second quarter 2013 was 18,849 net MT, up 22.6% from Q212
explained mainly by an increase in volumes of fresh avocado. Average price was
USD 2.48 per net KG, down 4.6% from the same period in 2012.
Camposol Holding Plc. reported sales of USD 46.8 million, up 17.1% from Q212,
mainly due to an increase in volume sold of fresh avocado and preserved pepper;
as well as higher prices of shrimp.
During the second quarter of 2013, EBITDA was USD 6.1 million, 74.4% higher than
Q212 explained by higher volumes, mainly in avocados, due to favorable weather
conditions this year and the rise of productivity of the young fields.
As of June 30(th )2013, the Company maintained a Cash Balance of USD 23.4
million.
On June 12(th) 2013, the Company signed an Engagement Letter with Credit
Suisse, in order to explore strategic alternatives to improve distribution
and marketing operations in the US market.
On June 24(th) 2013, the Dyer Coriat Holding (related to the Executive Chairman)
announced that it had entered into a conditional share purchase agreement with
Golden Target Pacific Limited regarding the acquisition of shares in Camposol.
Pursuant to the SPA, and upon its completion, DCH would acquire 2,704,020
Camposol Shares from Golden Target becoming the owner of shares representing in
total 37.79% of the issued shares of Camposol, thus triggering a mandatory offer
for all the shares in the Company under the Cypriot Takeover Act.
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.
Executive Chairman Samuel Dyer Coriat and CFO Jorge Ramirez will host a
conference call today, Friday August 16th at 04:00 pm CET/ 09:00 am Lima. For
details on the conference call, please visit Camposol's website:
www.camposol.com.pe (Press / News)
Please see the full second quarter and first half year 2013 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, Samuel Dyer Coriat
sdyerc(at)camposol.com.pe
CFO, Jorge Ramirez
jramirez(at)camposol.com.pe
Phone: +511 621-0804
About CAMPOSOL
CAMPOSOL is the leading agro industrial company in Peru, the largest exporter of
asparagus and soon the first producer of avocado in the world. It is involved in
the harvest, processing and marketing of high quality agricultural products such
as asparagus, avocados, grapes, mangoes, peppers, artichokes, mandarins and
blueberries; which are exported to key markets in Europe, the United States of
America and Asia.
CAMPOSOL is a vertically integrated company located in Peru, offering fresh,
preserved and frozen products. It is the third largest employer of the country,
with more than 13 thousand workers in high season, and is committed to support
sustainable development through a social responsibility policy and projects that
increases 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 us at www.camposol.com.pe.
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 Invitation Q2 2013:
http://hugin.info/138464/R/1723404/574354.pdf
Camposol Q2 2013 Report:
http://hugin.info/138464/R/1723404/574355.pdf
Camposol Q2 2013 Presentation:
http://hugin.info/138464/R/1723404/574356.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#1723404]
Unternehmensinformation / Kurzprofil:
Datum: 16.08.2013 - 08:00 Uhr
Sprache: Deutsch
News-ID 288451
Anzahl Zeichen: 5370
contact information:
Town:
Lima 13
Kategorie:
Business News
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