Camposol Holding Plc reports Third Quarter 2012 Results
October 30 2012 - 3:01AM
GlobeNewswire
Camposol Holding Plc. reported
sales of USD 38.3 million in the third quarter of 2012, down 22.5%
from Q311, mainly explained by lower volumes of avocado, due to
climatic conditions in Peru and record high production in USA and
Mexico, which adversely affected prices in the US market.
EBITDA before fair value
adjustments (b.f.v.a.) of USD 4.4 million, 70.8% lower than Q311.
EBITDA margin decreased to 11.5%. Last twelve months (LTM)
EBITDA as of September 30th 2012 was USD
21.1 million compared to USD 26.3 million for the LTM as of
September 30th 2011.
As of September 30th, the Company maintains a Cash
Balance of USD 25.8 million.
Volume sold during Q312 was 14,575 MT, down 16.63%
compared to the same period in 2011 and average prices were USD
2,627, down 17% from USD 2,826 during the same period in 2011.
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.
There has been a mild "El Niño" effect during 2012
which has caused us to experience a warm winter. This lack of
cold hours needed for the growth of the plants had a negative
effect on our volumes of avocado this year and will affect those of
asparagus in the third and fourth quarter.
Executive Chairman Samuel Dyer
Coriat and CFO Jorge Ramirez will host a conference call today,
Tuesday October 30th at 03:00 pm
CET/ 08:00 am Lima. For details on the conference call, please
visit Camposol's website: www.camposol.com.pe
Please see the full report and
presentation enclosed (or click on the links below of this release
if received by e-mail).
Executive Chairman Samuel Dyer Coriat and CFO
Jorge Ramirez will host a conference call today, Tuesday October
30th at 03:00 pm
CET/ 08:00 am Lima. For details on the conference call,
please visit Camposol's website: www.camposol.com.pe (Press /
News)
Please see the full third quarter 2012 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, involved in the cultivation, processing
and commercialization of agricultural products such as asparagus,
peppers, avocados, mangos, grapes and easy peelers. These are
exported as fresh, preserved or frozen products mainly to markets
in Europe and the United States of America. CAMPOSOL encompasses a
totally integrated business from the production of raw material in
the fields to processing in the industrial plant and subsequent
commercialization in Europe and the United States. CAMPOSOL has
24,496 own hectares of which about 7,252 are already used for
agricultural purposes, operates in 2 different locations in the
Peruvian coast, and has one fully owned processing plant for fresh,
preserved and frozen products. The Company has on average 8,000
part and full time employees.
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 Q3 2012 Presentation
Camposol Q3 2012 Report
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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