Camposol' s 2017 Adj. EBITDA[1] amounted to USD 125.5 million, up 65.0% compared to previous year. Adj. EBITDA margin increased to 34.0% from 27.5% compared to 2016. Sales amounted to USD 368.4 million, up 33.2% compared to 2016, mainly due to higher volume and prices of avocadoes, higher volumes of blueberries and shrimps. As of December 31st, 2017, the Company maintained a cash balance of USD 34.3 million, Net Debt was USD 142.9 million, resulting in a Net leverage ratio[2] of 1.1x.
The Company expects to continue its diversification strategy by; increasing production of the F&V Division (blueberries, avocados and tangerines), converting open ponds into intensive ponds in Marinasol, and strengthening relationship with clients adding value through commercial strategies, marketing and service initiatives.
Perspectives of long-term growth of fresh and healthy products are excellent. Avocado and blueberry consumption is growing, with headroom for increased per capita consumption in key markets. The Company expects good demand for its products in North America, Europe and Asia.
"Our strategic decision to focus on fresh and healthy products and to develop a direct road to market has delivered a strong result on 2017. We had a great avocado campaign in volumes and prices. We successfully increased volumes on blueberries and shrimps from intensive ponds. We began the internationalization of our agricultural operations acquiring land in Colombia. We obtained the "Supplier of the Year Award" from Walmart on the "Produce Category", we opened a third commercial office in Shanghai and we introduced "The Berry That Cares" brand that emphasizes our social and environmental commitments. We will continue strengthening Camposol as a world class company" stated Jorge Ramirez Rubio, CEO of Camposol.
Mr. Jorge Ramirez Rubio, CEO and Mr. Andrés Colichón Sas, CFO, will host a conference call today, Thursday February 22nd at 10:00 a.m. (Lima). For details on the conference call, please see attached invitation details.
Please see the full Fourth Quarter and Preliminary Full Year 2017 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
acolichon@camposol.com.pe
Jossue Yesquen, Deputy Manager of Investor Relations
jyesquen@camposol.com.pe
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
