Camposol Holding Ltd. reports Second Quarter 2015 Results
(Thomson Reuters ONE) -
Camposol Holding Ltd. sold 21,020 net MT during the second quarter of 2015, down
33.9% from Q214 mainly explained by deferred results of avocados (retail to Q3),
lower yields of asparagus and shrimp and lower shrimp prices. The average price
was USD 2.75 per net KG, up 20.1% from Q214 mainly explained by an increase in
prices of fresh avocados and preserved asparagus.
As a result, Camposol Holding Ltd. reported sales of USD 57.7 million in the
second quarter of 2015, down 20.7% from Q214. Average cost of goods sold during
Q215 was USD 2.02 per net KG, up 56.6% from Q214 mainly explained by lower
volumes of avocados, asparagus and shrimp.
During the second quarter of 2015, EBITDA was USD 7.1 million, 56.1% lower than
Q214 explained by lower results in peppers, fresh avocados and shrimp. EBITDA
margin for Q215 decreased to 12.4%.
As of June 30(th) 2015, the Company maintained a cash balance of USD 30.4
million.
Results in H1 have been lower than expected due to lower yields and prices for
our shrimp segment and deferred results of avocados.
The Company expects to continue its diversification strategy by increasing the
production in the F&V Segment (blueberries) and Seafood Segment (conversion of
shrimp ponds), as well as continue to reinforce our Trading Segment (direct
sales to retailers), adding value to its clients through commercial, marketing
and service initiatives which should result in higher margins.
"During the second half of this year we will have an important increase of our
blueberries segment, which are mostly sold directly to retailers. Within the
next 2 years, we will see an important growth in volumes (blueberries, shrimp
and avocados), without additional substantial CapEx." stated Samuel Dyer Coriat,
Executive Chairman of Camposol Holding Ltd.
The long-term growth prospects for exotic fruits and vegetables markets are
excellent. Avocados and blueberries consumption is 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. The Company expects good demand for all fresh produce in general and
for avocados specifically in both the United States and Europe.
Mr. Samuel Dyer Coriat, Executive Chairman, and Mrs. Maria Cristina Couturier,
CFO, will host a conference call today, Tuesday August 25(th) at 11:00 a.m.
(Lima). For details on the conference call, please see attached invitation
details.
Please see the full second quarter 2015 report and presentation enclosed (or
click on the links below of this release if received by e-mail).
For further information, please contact:
CFO, Maria Cristina Couturier
mcouturier(at)camposol.com.pe
Investor Relations Officer, Maria Elena Olmos
molmosv(at)camposol.com.pe
Phone: +511 634 4100
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 avocados, asparagus, blueberries, grapes, mangos, peppers, artichokes,
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,
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 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
Camposol Q2 2015 Report:
http://hugin.info/138464/R/1947312/707050.pdf
Camposol Q2 2015 Presentation:
http://hugin.info/138464/R/1947312/707051.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 Limited via GlobeNewswire
[HUG#1947312]
Unternehmensinformation / Kurzprofil:
Datum: 25.08.2015 - 15:00 Uhr
Sprache: Deutsch
News-ID 415772
Anzahl Zeichen: 5155
contact information:
Town:
Lima 13
Kategorie:
Business News
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