Camposol Holding Ltd. sold 24,598 net MT during the first quarter of 2015, up 0.9% from Q114 mainly explained by an increase in volumes of shrimp, other seafood products and blueberries, as well as lower volumes of mangos and asparagus. The average price was USD 2.92 per net KG, up 17.7% from Q114 mainly explained by an increase in prices of preserved white asparagus, blueberries and fresh mangoes.
As a result, Camposol Holding Ltd. reported sales of USD 71.7 million in the first quarter of 2015, up 18.6% from Q114 mainly due to an increase in volume sold of peppers, shrimp and other seafood products. Average cost of goods sold during Q115 was USD 2.42 per net KG, up 37.5% from Q114 mainly explained by an increase in costs of white asparagus, shrimp and peppers, due to lower yields.
During the first quarter of 2015, EBITDA was USD 1.5 million, 79.7% lower than Q114 explained by lower volumes of white asparagus, as well as increasing cost of goods sold of shrimp, asparagus and preserved peppers. EBITDA margin for Q115 decreased to 2.1%.
As of March 31st 2015, the Company maintained a cash balance of USD 28.4 million.
On March 31st 2015, Camposol S.A. sold 302.6 Has to Desarrollo Inmobiliario Marverde S.A.C., a real estate company owned by Generación Del Pacífico Grupo SL., for USD 8.1 million.
"The Company expects to continue its diversification strategy by increasing the production in the F&V Segment (blueberries) and Seafood Segment (shrimp farming), as well as continue to reinforce our Trading Segment (direct sales to retailers), adding value to its clients through commercial, marketing and service initiatives which should result in higher margins. Within the next 2 years, we will see an important growth in our volumes (blueberries, shrimp and avocados), without additional substantial CapEx," stated Samuel Dyer Coriat, Executive Chairman 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. In the case of asparagus, although consumption is stable, supply is falling due mainly to reduced exports from China. The Company expects good demand for all fresh produce in general and for avocados specifically in both the United States and Europe.
Mr. Samuel Dyer Coriat, Executive Chairman, and Mrs. Maria Cristina Couturier, CFO, will host a conference call today, Monday May 18th at 11:00 a.m. (Lima/NY). For details on the conference call, please see attached invitation details.
Please see the full first quarter 2015 report and presentation enclosed (or click on the links below of this release if received by e-mail).
For further information, please contact:
CFO, Maria Cristina Couturier
mcouturier@camposol.com.pe
Investor Relations Officer, Maria Elena Olmos
molmosv@camposol.com.pe
Phone: +511 634 4100
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 avocados, asparagus, blueberries, grapes, mangos, peppers, artichokes, 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, preserved and frozen products. It is the third largest employer of the country, with more than 13 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
