Camposol Holding Plc reports Second Quarter and First Half Year 2013 Results
August 16 2013 - 2:00AM
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
This information is subject
of the disclosure requirements pursuant to section 5-12 of the
Norwegian Securities Trading Act.
Camposol Q2 2013 Presentation
Camposol Q2 2013 Report
CAMPOSOL Invitation Q2 2013
This
announcement is distributed by Thomson Reuters on behalf of Thomson
Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the
information contained therein.
Source: Camposol Holding Plc. via Thomson Reuters ONE
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