Camposol Holding reports third quarter 2010 results
(Thomson Reuters ONE) -
Camposol Holding Plc. reported sales of USD 30.4 million in Q310, which was
17.4% greater than in the corresponding period the year before, while EBITDA
before fair value adjustments (b.f.v.a.) was up for the seventh consecutive
quarter, improving by 127% to 5.7 million compared to the same period the year
before.
As of 30 September 2010, Camposol Holding Plc. reported sales of USD 83.5
million compared to USD 90.1 million in the same period the year before. At the
end of the first nine months of 2010 EBITDA b.f.v.a. reached USD 15.4 million,
up 152% from 30 September 2009.
Last twelve months (LTM) EBITDA as of 30 September 2010 was USD 18.1 million
compared to USD 2.9 million for the LTM as of 30 September 2009.
The EBITDA margin also improved from 9.7% in the third quarter of 2009 to 18.7%
in the third quarter of the present year. This was mainly due to lower unitary
costs, which were achieved by a combination of higher field yields and a
reduction in variable costs, as well as price improvements in selected products.
The Company is currently analyzing new opportunities to consolidate its market
leadership through additional planting of current crops, planting of new crops
and the implementation of its strategic alliance with Riberebro Group.
In July 2010, CAMPOSOL exported its first two containers of avocado to the US.
The quality was accepted and it was commercialized successfully. However, the
exported lot was the final harvest of the year so there will not be more avocado
exports to the US until 2011.
By the end of the first nine months of 2010, USD 4.2 million out of the USD 8.6
million planned investment on grapes have been executed and 256 Has of grapes
have already been planted out of the 350 has of total project, which will be
finished in Q4. The first crop from this new planted area is expected for Q411.
The first container of white asparagus and piquillo peppers is expected to be
exported to Riberebro in October 2010.
Going forward, Camposol will continue to focus on operational improvements and
strengthening the financial position. Further costs reductions, working capital
optimization, debt reduction and liquidity and cash flow focus are all central
to achieve profitable growth going forward.
"Last twelve months (LTM) EBITDA of USD 18.1 million (at the end of the third
quarter) clearly reflects Camposol´s growth during 2010 as a result of our focus
on proactive price management improving operational efficiency and reducing the
cost base," says Fabio Matarazzo, CEO of Camposol.
CEO Fabio Matarazzo di Licosa and CFO Jorge Ramirez will host a conference call
today, Wednesday 20 October 2010 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 third quarter 2010 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:
CEO, Fabio Matarazzo
fmatarazzo(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, 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 24,496 own hectares of which about 6,407 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 8,000 part and full time employees.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1453315]
Camposol Q3 2010 Report :
http://hugin.info/138464/R/1453315/393878.pdf
Camposol Q3 2010 Presentation :
http://hugin.info/138464/R/1453315/393879.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
Unternehmensinformation / Kurzprofil:
Datum: 20.10.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 45920
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contact information:
Town:
Lima 13
Kategorie:
Business News
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