Camposol Holding reports second quarter 2009 results
(Thomson Reuters ONE) - Camposol Holding Plc. reported sales of USD 31.2 million in thesecond quarter 2009 compared to USD 32.9 million in the previousquarter. The first half of the year is traditionally the weakest partof the year due to seasonality related to the harvest of Camposol'sproducts.EBITDA before fair value adjustment was USD 2.1 million in the secondquarter compared to USD 1.5 million in the first quarter of the year.The effects from the downsizing process and other operatingefficiencies started in 2009 will be reflected in lower unitary costsin the following quarters of the year.As previously announced, Camposol has decided to strengthen itspresence in the fresh products channel. However, during the Europeansummer season, the company competes with European local production offresh asparagus. Therefore the share of the company's asparagus thatwas sold fresh was reduced from 37% in the first quarter to 26% inthe second quarter this year.The avocado volume sold in the second quarter of 2009 was 17% lowerthan in the corresponding period last year, mainly due to a lowerharvested volume as a consequence of alternate bearing of the avocadotrees.Avocado prices have so far in the third quarter increased as a resultof lower volumes supplied by Peruvian exporters in this period.However, the expected harvested avocado volume for the 2009 seasonhas decreased from 15,000 MT to 11,200 MT. The company expects the USavocado market to be open before the beginning of next season (secondquarter 2010).During the second quarter of 2009, CAMPOSOL started the integrationof the operational side of the fields, as well as Payroll into itsERP SAP software. The investment will benefit the company byproviding faster and more accurate information.A program for Sustainable Agriculture has been started in order toensure the preservation of the environment and improvement of theoperations. Also, a treatment plant was installed to make theoutgoing water from Camposol's production plant 100% recyclable.CEO Juan Jose Gal'lino and assisting CFO Jorge Ramirez will host apresentation today, Wednesday 26 August 2009 at 08:30 am CET, atFelix Konferansesenter (Aker Brygge), in Oslo, Norway.Please see the full second quarter and first half year 2009 reportand presentation enclosed (or click on the links below of thisrelease is received by e-mail.)For further information, please contact:CEO, Mr. Juan José Gal'Lino jgallino(at)camposol.com.peCFO, Mr. Piero Dyer pdyer(at)camposol.com.pePhone: +511 621-0804Fax: +511 221-4478About CAMPOSOLCamposol is the leading agro industrial company in Peru, involved inthe cultivation, processing and commercialization of agriculturalproducts such as asparagus, sweet peppers, artichoke, avocado, mango,grapes and tangerines. These are exported as fresh, preserved orfrozen products mainly to markets in Europe and the United States ofNorth America. Camposol encompasses a totally integrated businessfrom the production of raw material in the fields to processing inthe industrial plant and subsequent commercialization in Europe andthe United States. Camposol has around 25,000 own hectares of whichover 6,000 are already used for agricultural purposes, operates in 2different locations in the Peruvian coast, and has one fully ownedprocessing plant for fresh, preserved and frozen products. Thecompany has around 10,000 part and full time employees.Please visit www.camposol.com.pehttp://hugin.info/138464/R/1337100/318476.pdfhttp://hugin.info/138464/R/1337100/318477.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 26.08.2009 - 08:02 Uhr
Sprache: Deutsch
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