Camposol Holding Ltd. reports second quarter 2016 financial results
LIMA, Peru, Aug. 18, 2016 (GLOBE NEWSWIRE) — Camposol Holding Ltd. sold 17,597 net MT during 2Q-16, including discontinued operations volume, down 16.3% from 2Q-15 mainly explained by a decrease in volumes of peppers, asparagus, artichokes, grapes, avocados, shrimp and other seafood products, net of an increase in volumes of blueberries.
Average price during 2Q-16 was USD 3.08 per net KG, including discontinued operations sales, up 12.0% from 2Q-15 mainly explained by higher prices of shrimp and other seafood products as well as higher prices of blueberries and avocados.
As a result, Camposol Holding Ltd. reported sales of USD 54.2 million during 2Q-15, down 6.1% from 2Q-15. Average cost of goods sold during 2Q-2016 was USD 2.50 per net KG, including discontinued operations costs, up 12.1% from 2Q-15 mainly explained by higher costs for asparagus, blueberries, shrimp and other seafood products.
EBITDA during 2Q-16, including discontinued operations sales, was USD 6.1 million, down 14.6% from 2Q-15. EBITDA margin during 2Q-16 decreased to 11.2% from 12.4% in 2Q-15.
As of June 30th 2016, the Company maintained a cash balance of USD 29.6 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.
“Second quarter results are in line with our expectations including the effects of our recently declared discontinued operations. We are keeping our renewed focus on our fresh and frozen business and a positive outlook for the year, especially on our avocado and our growing blueberry business. We are grateful to our shareholders for the confidence placed on us as we continue working hard in making Camposol a world-class company”, 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 in both the United States and Europe.
Mr. Manuel Salazar, CEO and Ms. Maria Cristina Couturier, CFO, will host a conference call today, Thursday August 18th at 10:00 a.m. (Lima). For details on the conference call, please see attached invitation details.
Please see the full second quarter 2016 report and presentation enclosed (or click on the links below of this release if received by e-mail).
For further information, please contact:
Manuel Salazar Diez Canseco, CEO
[email protected]
Maria Cristina Couturier, CFO
[email protected]
Jossue Yesquen, Head of IR
[email protected]
Phone: +511 621 0800 Ext.: 7171
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 private 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
Camposol 2Q 2016 Presentation http://hugin.info/138464/R/2035568/758297.pdf
Camposol 2Q 2016 Report http://hugin.info/138464/R/2035568/758298.pdf
Camposol 2Q 2016 Invitation http://hugin.info/138464/R/2035568/758299.pdf
HUG#2035568
