Camposol Holding Ltd. sold 28,995 net MT during the third quarter of 2015, up 15.6% from Q314 mainly explained by higher volume of avocados and blueberries. The average price was USD 2.53 per net KG, up 3.3% from Q314 mainly explained by an increase in prices of fresh avocados and asparagus.
As a result, Camposol Holding Ltd. reported sales of USD 73.4 million in the third quarter of 2015, up 19.9% from Q314. Average cost of goods sold during Q315 was USD 1.67 per net KG, down 6.2% from Q314 mainly explained by a decrease in cost of blueberries, peppers and mangoes.
During the third quarter of 2015, EBITDA was USD 14.9 million, 260.0% higher than Q314 explained by higher volume and prices for avocados, higher volume and reduced cost per unit of blueberries. EBITDA margin for Q315 increased to 20.3%.
As of September 30th 2015, the Company maintained a cash balance of USD 33.8 million.
The Company expects to continue its diversification strategy by increasing the production in the F&V Segment (blueberries) and Seafood Segment (conversion of shrimp ponds), as well as continue to reinforce the Trading Segment (direct sales to retailers), adding value to its clients through commercial, marketing and service initiatives which should result in higher margins.
"The third quarter results are in line with our expectations. By year-end, the Company results will reflect an important increase of our blueberries segment (around 400% higher in volume than the previous year). Within the next 2 years, we will see an important growth in volumes (avocados, blueberries and shrimp), 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 Ms. Maria Cristina Couturier, CFO, will host a conference call today, Thursday October 29th at 11:00 a.m. (Lima). For details on the conference call, please see attached invitation details.
Please see the full third 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
