Camposol Holding Ltd. reports First Quarter 2017 financial results
(Thomson Reuters ONE) -
During the 1Q-17, Camposol generated an EBITDA[1] of USD 9.8 million, 9.7%
higher than the EBITDA reported the 1Q-16. EBITDA margin increased to 16.8% from
16.2% reported in 1Q-16. As of March 31(st), 2017, Camposol's LTM EBITDA
amounted to USD 77.5MM and net debt[2] was USD 165.9 million, the resulting net
leverage[3] ratio was 2.1x. down from the 2.3x reported last December. As of
March 31(st), 2017, the Company maintained a cash balance of USD 32.0 million.
During the 1Q-17, sales( 1) were USD 58.2 million, up 5.6% from 1Q-16. This
increase was explained by higher sales on the Trading division due to the higher
volume of blueberries from the 4Q-16 campaign, an increase in revenues from
Marinasol (Aquaculture division) due to higher volumes and prices of shrimp, net
of lower sales on the F&V division due to lower price of mango.
The Coastal "El Niño" phenomenon impacted the country, bringing heavy rains,
river overflows and landslides in different areas of the country. Camposol' s
assets were not materially affected by this events.
The Company expects to continue its diversification strategy by; increasing
production of the F&V Division (blueberries and tangerines), more volumes in
Marinasol - Aquaculture Division (conversion to intensive shrimp ponds), and
reinforcing Camposol Trading, adding value to its clients through commercial,
marketing and service initiatives.
Perspectives of long-term growth prospects for exotic fruits and vegetables
markets are excellent. Avocado and blueberry 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.
"First quarter of 2017 has been favorable for Camposol, our results continue the
growth trend that began during the previous years. Coastal "El Niño" phenomenon
severely impacted the coastal areas of Peru. Camposol, together with the
authorities and other companies located in the Chavimochic area diligently
worked to protect the trees and infrastructure, guarantee the safety of the
operations, and to assist neighboring communities with all our available
resources. Today I am happy to inform that our operations continue normally
according to plan" stated Jorge Ramirez Rubio, CEO of Camposol Holding Ltd.
Mr. Jorge Ramirez Rubio, CEO and Mr. Andrés Colichón Sas, CFO, will host a
conference call today, Wednesday May 31(st) at 11:00 a.m. (Lima). For details on
the conference call, please see attached invitation details.
Please see the full first quarter financial results' report and presentation
enclosed (or click on the links below of this release if received by e-mail).
For further information, please contact:
Andrés Colichón Sas, CFO
acolichon(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
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[1] Without discontinued operations
[2] Net Debt: Total Gross Debt - Cash
[3] Net leverage ratio: (Total Gross Debt - Cash) / LTM EBITDA( (1))
Camposol 1Q - 2017 Presentation:
http://hugin.info/138464/R/2109274/801428.pdf
Camposol 1Q - 2017 Report:
http://hugin.info/138464/R/2109274/801429.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: 31.05.2017 - 15:00 Uhr
Sprache: Deutsch
News-ID 545510
Anzahl Zeichen: 5393
contact information:
Town:
Lima
Kategorie:
Business News
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