Camposol Holding Ltd. Reports Record Fourth Quarter and Preliminary Full Year 2016 Financial Results
(Thomson Reuters ONE) -
During 4Q-16 Camposol generated a record EBITDA((1)) of USD 35.4 million,
118.7% higher than 4Q-15, due to an increase in volume of blueberries and an
increase of volume and prices of both grapes and shrimp from intensive ponds.
As a result, EBITDA((1)) margin reached 34.7%, 13.8 percentage points higher
than 4Q-15.
For the full year 2016, Camposol generated a record EBITDA((1)) of USD 76.6
million, 121.1% higher than for 2015. EBITDA( (1)) margin reached 27.7%, 13.1
percentage points higher than for 2015. Net debt((2)) was USD 174.3 million,
resulting in a net leverage ratio((3)) of 2.3x.
Camposol sold((1)) 21,048 net MT during 4Q-16, up 4.3% from 4Q-15, due to higher
blueberries, shrimps and grapes volumes net of lower volumes of peppers and
mangos.
During 4Q-16 average realized price( (1)) was USD 4.85 per net KG, up 26.5% from
4Q-15, mainly driven by higher prices from grapes and shrimps. As a result,
total sales( (1)) reached USD 102.0 million, up 31.9% from 4Q-15.
On December 2016, Camposol obtained a mid-term facility from a local bank for up
to USD 15 million.
As of December 31(st) 2016, Camposol maintained a cash balance of USD 84.7
million.
On February 2(nd), 2017, Camposol successfully made the maturity payment of its
9.875% Senior Unsecured Notes due 2017. As a consequence, Camposol now only has
its 10.5% Senior Secured Notes due 2021 trading on the financial markets, these
notes represent USD 147,490,000.
The Company expects to continue its diversification strategy by increasing the
production in the F&V Segment (blueberries and tangerines) and Seafood Segment
(conversion to intensive shrimp ponds), as well as continue to reinforce the
Trading Segment (direct sales to retailers), adding value to its clients through
commercial, marketing and service initiatives which should result in higher
margins.
"2016 was a great year for Camposol, we successfully increased volumes in
blueberries and shrimps from intensive ponds, and our avocados remained as one
of the most stable and profitable crops in the portfolio. After exchanging
73.75% of the Senior Unsecured Notes due on 2017 last May, we successfully paid
the remaining USD 46.9 million outstanding balance as of February 2(nd), 2017.
With favorable market trends and highly focused on our strategy, we will
continue strengthening Camposol as a world class company", stated Jorge Luis
Ramirez Rubio, CEO 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. The Company expects good demand
for all fresh produce in general in both the United States and Europe.
Mr. Jorge Luis Ramirez Rubio, CEO and Ms. Maria Cristina Couturier, CFO, will
host a conference call today, Wednesday February 15(th) at 10:00 a.m. (Lima).
For details on the conference call, please see attached invitation details.
Please see the full fourth quarter and preliminary full year 2016 financial
results' report and presentation enclosed (or click on the links below of this
release if received by e-mail).
(1) Without discontinued operations
(2) Net Debt: Total Gross Debt - Cash
(3) Net Leverage ratio: (Total Gross Debt - Cash) / LTM EBITDA((1))
For further information, please contact:
Jorge Luis Ramirez Rubio, CEO
jramirezr(at)camposol.com.pe
Maria Cristina Couturier, CFO
mcouturier(at)camposol.com.pe
Jossue Yesquen, Head of IR
jyesquen(at)camposol.com.pe
Phone: +511 621 0800 Ext.: 7171
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 avocadoes, blueberries, grapes, mangos, 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 and
frozen products. It is the third largest private employer of the country, with
more than 15 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 4Q 2016 Report:
http://hugin.info/138464/R/2078941/782580.pdf
Camposol 4Q 2016 Presentation:
http://hugin.info/138464/R/2078941/782584.pdf
Camposol 4Q 2016 Invitation:
http://hugin.info/138464/R/2078941/782579.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Camposol Holding Limited via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 15.02.2017 - 15:00 Uhr
Sprache: Deutsch
News-ID 524376
Anzahl Zeichen: 6037
contact information:
Town:
Lima
Kategorie:
Business News
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"Camposol Holding Ltd. Reports Record Fourth Quarter and Preliminary Full Year 2016 Financial Results"
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