Volume sold during the second quarter 2013 was 18,849 net MT, up 22.6% from Q212 explained mainly by an increase in volumes of fresh avocado. Average price was USD 2.48 per net KG, down 4.6% from the same period in 2012.
Camposol Holding Plc. reported sales of USD 46.8 million, up 17.1% from Q212, mainly due to an increase in volume sold of fresh avocado and preserved pepper; as well as higher prices of shrimp.
During the second quarter of 2013, EBITDA was USD 6.1 million, 74.4% higher than Q212 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 June 30th 2013, the Company maintained a Cash Balance of USD 23.4 million.
On June 12th 2013, the Company signed an Engagement Letter with Credit Suisse, in order to explore strategic alternatives to improve distribution and marketing operations in the US market.
On June 24th 2013, the Dyer Coriat Holding (related to the Executive Chairman) announced that it had entered into a conditional share purchase agreement with Golden Target Pacific Limited regarding the acquisition of shares in Camposol. Pursuant to the SPA, and upon its completion, DCH would acquire 2,704,020 Camposol Shares from Golden Target becoming the owner of shares representing in total 37.79% of the issued shares of Camposol, thus triggering a mandatory offer for all the shares in the Company under the Cypriot Takeover Act.
The long term growth prospects for exotic fruits & vegetables markets are excellent. Avocado and mango are 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.
Company expects good demand for all fresh produce in general and for avocado specifically in both the United States and Europe.
The Company is currently focused on adding value to its clients through commercial, marketing and service initiatives which should result on higher margins.
Executive Chairman Samuel Dyer Coriat and CFO Jorge Ramirez will host a conference call today, Friday August 16th at 04:00 pm CET/ 09:00 am Lima. For details on the conference call, please visit Camposol's website: www.camposol.com.pe (Press / News)
Please see the full second quarter and first half year 2013 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
CFO, Jorge Ramirez
jramirez@camposol.com.pe
Phone: +511 621-0804
About CAMPOSOL
CAMPOSOL is the leading agro industrial company in Peru, the largest exporter of asparagus and soon the first producer of avocado in the world. It is involved in the harvest, processing and marketing of high quality agricultural products such as asparagus, avocados, grapes, mangoes, peppers, artichokes, mandarins and blueberries; which are exported to key markets in 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 a social responsibility policy and projects that increases 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 us at www.camposol.com.pe.
Please visit www.camposol.com.pe
