Camposol's LTM EBITDA[1] amounted to USD 123.6 million, LTM Sales[2] amounted to USD 379.9 million, LTM EBITDA[3] margin was 32.5%, net leverage ratio [4] was 1.6x. For the first six month of 2018, Camposol recorded an EBITDA[5] of USD 34.1 million, Sales[6] amounted to USD 140.1 million, 8.9% increase mainly explained by higher volume and prices of blueberries offset by lower volume of avocados, EBITDA[7] margin was 24.3%. As of June 30th, 2018, the Company maintained a cash balance of USD 28.2 million.
The Company expects to continue its diversification strategy by; increasing production of the F&V Division (blueberries, avocados and tangerines), converting open pond into intensive pond in in Marinasol - Aquaculture Division (conversion to intensive shrimp ponds), and reinforcing relations with clients adding value to through commercial strategies, marketing and service initiatives.
Perspectives of long-term growth of 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.
"During the first half of the year we executed investments for USD 87.5 million, which is 64% higher than the investments executed during 2017. We have reached 2,000 hectares of blueberries and our expansion plan in Peru continues. We keep strengthening our control procedures in Uruguay and expanding our operations in Colombia, replicating in both places the sustainable model we have built in Perú. We will keep executing our business plan to continue strengthening Camposol as a world class company" stated Jorge Ramirez Rubio, CEO of Camposol.
Mr. Andrés Colichón Sas, CFO, and Mr. Jossue Yesquen, Deputy Manager of Investor Relations, will host a conference call today, Thursday August 23rd at 10:00 (Lima). For details on the conference call, please see attached invitation details.
Please see the full second quarter and first half 2018 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
Jossue Yesquen, Deputy Manager of Investor Relations
Phone: +511 621 0800 Ext.: 7171
About CAMPOSOL
CAMPOSOL is a vertically integrated producer of branded fresh and healthy food that offers high quality, healthy and fresh food to consumers around the world, based on a sustainable management model. CAMPOSOL is organized into two main business units: Camposol Fruits and Vegetables (fresh produce) and Marinasol (aquaculture) and its portfolio includes superfoods like blueberries, avocados, shrimp, mandarins, among others. Additionally, our international commercial platform is responsible for the commercialization of the products of these two units, with offices in the US, The Netherlands and China.
CAMPOSOL guarantees the full traceability of its products and is committed to supporting sustainable development through social and environmental responsibility policies and projects intended to increase the shared-value for all its stakeholders. On the strength of this value proposition, CAMPOSOL's commercial offices have established long-term relationships with the top worldwide supermarket chains and service them directly.
CAMPOSOL is also an active member of the Global Compact since 2008. It presents annual Sustainability Reports aligned to the GRI Methodology 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
