Camposol Holding Plc. reported sales of USD 62.6 million in the third quarter of 2013, up 63.3% from Q312, mainly due to an increase in volume sold of fresh avocados.
EBITDA of USD 16.1 million, 265.6% higher than in Q312 explained by higher volumes, mainly in avocados due to favorable weather conditions this year and the rise of productivity of the young fields.
As of September 30th 2013, the Company maintains a Cash Balance of USD 19.7 million.
Volume sold during Q313 was 25,084 net MT, up 64.7% compared to the same period in 2012, mainly by an increase in volumes of fresh avocados. Average price was USD 2.49 per net KG, down 0.8% from the same period in 2012.
On September 3rd 2013, DCH purchased 2,704,080 shares from Golden Target Pacific Limited. The sale price for each share was USD 3.10 as further described in the announcement made on June 24th 2013.
On September 24th 2013, Oslo Bors, in capacity as take-over supervisory authority, approved the Mandatory Offer to acquire the shares in Camposol by Dyer Coriat Holding S.L at a price per share of NOK 25 (the "Offer"). The offer was valid until October 23th.
DCH received total acceptances for 4,985,550 shares. Together with the 22,046,497 shares already held by DCH, at completion of the Offer, DCH holds 26,992,047 shares in the Company, representing 90.47% of the total shareholding.
On October 15th, Jorge Ramirez resigned to the CFO position. Angel Suarez, Controller, will be acting as Interim CFO until a new CFO is appointed.
Executive Chairman Samuel Dyer Coriat and Head of Investor Relations Maria Elena Olmos will host a conference call today, Tuesday October 29th at 04:00 pm CET/ 09:00 am Lima. For details on the conference call, please see attached invitation.
Please see the full report and presentation enclosed (or click on the links below of this release if received by e-mail).
For further information, please contact:
Executive Chairman, Samuel Dyer Coriat
sdyerc@camposol.com.pe
Head of Investor Relations, Maria Elena Olmos
molmos@gdp.com.pe
Phone: +511 634 7141
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 24,216 own hectares of which about 6,440 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 10,000 part and full time employees.
Please visit www.camposol.com.pe
