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Camposol Holding Plc. Reports First Quarter 2018 Financial Results
Camposol's 1Q-2018 EBITDA[1] amounted to USD 19.0 million, up 94.6% compared to the same period last year. EBITDA margin increased to 23.2% from 16.8% in 1Q-2018. Sales amounted to USD 82.2 million, up 41.3% compared to the same period last year due to higher volume and prices of blueberries and higher volumes of shrimps. As of March 31st, 2018, the Company maintained a cash balance of USD 42.5 million, Net Debt was USD 147.3 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.
"During the first quarter of the year we maintained the growth trend as a result of our strategic decision to focus on fresh and healthy products and to develop a direct road to market. In order to achieve our vision of become the preferred global supplier of healthy, fresh and convenient food, we continued the internationalization of our agricultural operations by acquiring land and plantations of tangerines in Uruguay. We will keep executing our business plan in order to continue strengthening Camposol as a world class company" stated Jorge Ramirez Rubio, CEO of Camposol.
Mr. Andrés Colichón Sas, CFO, and Mr. Jossue Yesquen Lihim will host a conference call today, Wednesday May 23rd at 10:00 a.m. (Lima). For details on the conference call, please see attached invitation details.
Camposol's 1Q-2018 EBITDA[1] amounted to USD 19.0 million, up 94.6% compared to the same period last year. EBITDA margin increased to 23.2% from 16.8% in 1Q-2018. Sales amounted to USD 82.2 million, up 41.3% compared to the same period last year due to higher volume and prices of blueberries and higher volumes of shrimps. As of March 31st, 2018, the Company maintained a cash balance of USD 42.5 million, Net Debt was USD 147.3 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.
"During the first quarter of the year we maintained the growth trend as a result of our strategic decision to focus on fresh and healthy products and to develop a direct road to market. In order to achieve our vision of become the preferred global supplier of healthy, fresh and convenient food, we continued the internationalization of our agricultural operations by acquiring land and plantations of tangerines in Uruguay. We will keep executing our business plan in order to continue strengthening Camposol as a world class company" stated Jorge Ramirez Rubio, CEO of Camposol.
Mr. Andrés Colichón Sas, CFO, and Mr. Jossue Yesquen Lihim will host a conference call today, Wednesday May 23rd at 10:00 a.m. (Lima). For details on the conference call, please see attached invitation details.
