Camposol Holding Ltd. reported a record EBITDA of USD 19.2 million during the fourth quarter of 2015, 209.4% higher than Q414 mainly explained by higher volumes of blueberries, tangerines, mangos, shrimp and other seafood products, as well as higher prices of avocados and blueberries. For the full year 2015, the Company reported a record EBITDA of USD 42.8 million, up 24.1% from 2014 mainly explained by the reasons above mentioned. EBITDA margin in the fourth quarter of 2015 increased to 22.3% from 9.2% in 2014. For the full year 2015, the Company recorded an EBITDA margin of 14.8% from 12.9% in 2014.
Camposol Holding Ltd. reported record sales of USD 86.4 million in the fourth quarter of 2015, up 18.4% from Q414, mainly due to an increase in volume sold of blueberries, tangerines, mangos, shrimp and other seafood products. For the full year 2015, the Company reported record sales of USD 289.3 million, up 8.1% from 2014 mainly explained by higher volumes of blueberries, shrimp and other seafood products.
Camposol Holding Ltd. sold 25,115 net MT during the fourth quarter of 2015, up 9.1% from Q414 mainly explained by an increase in volumes of blueberries, tangerines, mangos, shrimp and other seafood products. During 2015, the Company sold 99,729 net MT, down 3.8% from 2014 mainly explained by lower volumes of avocados, asparagus and grapes net of higher volumes of blueberries, tangerines, shrimp and other seafood products.
The average price during the fourth quarter of 2015 was USD 3.44 per net KG, up 8.6% from Q414 mainly explained by increasing volumes of blueberries, higher volumes and prices of peppers as well as higher prices of avocados. The average price for the full year 2015 was USD 2.90 per net KG, up 12.4% from 2014, mainly driven by increasing volumes and higher prices of blueberries, as well as higher prices of mangos.
As of December 31st 2015, the Company maintained a cash balance of USD 26.6 million.
On October 16th 2015, Mr. Jorge Ramirez was appointed as General Manager of Camposol Seafood.
On November 2nd 2105, Mr. Manuel Salazar was appointed as CEO of Camposol Holding Ltd.
On November 5th 2015, a new composition of the Board of Directors was approved. The new Board of Directors is composed of Samuel Dyer Coriat, Chairman, Piero Dyer Coriat, Sheyla Dyer Coriat, William Dyer Osorio, Susana Elespuru, Carmen Rosa Graham and Raul U. Fernandez.
The Company expects to continue its diversification strategy by increasing the blue berries production in the Fruits & Vegetables (F&V) segment and by increasing the conversion of shrimp ponds in the Seafood segment. The Company also expects to continue to reinforce the Trading segment through more direct sales to retailers, adding value to its clients through commercial, marketing and service initiatives which should result in higher margins.
In line with this strategy, the Company has invested significantly in specializing the company in the F&V segment, diversifying its portfolio of products and customers, as well as increasing its presence in key markets with favorable and encouraging results. In line with this vision, the Company has decided to continue empowering its fresh and frozen business segments, and exit the preserved business. The Company considers these strategic changes in Camposol's businesses will allow for greater specialization, efficiency and focus on product categories in which the Company has made significant investments in recent years, and thus maximize opportunities for growth and consolidation of its business.
"Fourth quarter and preliminary full year results are in line with our expectations (considering "El Niño" effect) and reflect the significant increase in volume of our blueberries segment (4x compared to 2014). The company's growth without any substantial additional capex will continue in the next years, as we continue to produce increasing volumes of avocados, blueberries and shrimp," stated Manuel Salazar Diez Canseco, CEO 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. 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, Chairman, Mr. Manuel Salazar Diez Canseco, CEO, and Ms. Maria Cristina Couturier, CFO, will host a conference call today, Friday January 5th at 11:00 a.m. (Lima). For details on the conference call, please see attached invitation details.
Please see the full fourth quarter 2015 and preliminary full year 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
molmos@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, 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 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
