Camposol Holding reports first quarter 2011 results
(Thomson Reuters ONE) -
Camposol Holding Plc. reported sales of USD 36.4 million in Q1'11, which was
41% greater than in the corresponding period the year before, mainly due to
higher volume sold of asparagus, pepper, mango and shrimp and an increase on
shrimp price.
EBITDA before fair value adjustments (b.f.v.a.) was USD 3.1 million, down 32.7%
from Q1'10.
EBITDA margin decreased to 8.5% from 17.8% in Q1'10 due to lower prices and
higher selling expenses for mango and asparagus.
Last twelve months (LTM) EBITDA as of 30 March 2011 was USD 18.9 million
compared to USD 11.9 million for the LTM as of 30 March 2010.
The opening process of the US Market for Peruvian Hass Avocado is progressing,
and on April 4th 2011 the Animal and Plant Health and Inspection Service
(APHIS) proposed the exemption of the cold treatment for the fruit. This is
subject to a thirty days contestation period prior to final implementation.
In March 2011, Michael Horney resigned from the Commercial Officer position and
Fabio Matarazzo, CEO of Camposol Holding Plc, is personally managing all
commercial matters as of April 1st 2011.
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.
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.
CEO Fabio Matarazzo di Licosa and CFO Jorge Ramirez will host a conference call
today, Thursday 5 May 2011 at 03:00 pm CET/ 08:00 am Lima. For details on the
conference call, please visit Camposol's website: www.camposol.com.pe (Press /
News)
Please see the full first quarter 2011 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 6,600 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 pursuant to section
5-12 of the Norwegian Securities Trading Act.
CSOL Q1 2011 Report:
http://hugin.info/138464/R/1512697/448365.pdf
CSOL Invitation Q1 2011:
http://hugin.info/138464/R/1512697/448366.pdf
CSOL Q1 2011:
http://hugin.info/138464/R/1512697/448364.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#1512697]
Unternehmensinformation / Kurzprofil:
Datum: 05.05.2011 - 08:01 Uhr
Sprache: Deutsch
News-ID 54280
Anzahl Zeichen: 4476
contact information:
Town:
Lima 13
Kategorie:
Business News
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