Camposol Holding Ltd. reported USD 73.0 million worth of sales in the fourth quarter of 2014, up 10.3% compared to the same period of 2013, and total sales amounting to USD 267.6 million during the entire year, i.e 15.7% more than in 2013.
During the fourth quarter of 2014, earnings before interest, taxes, depreciation and amortization (Earnings Before Interests, Taxes, Depreciations and Amortizations, EBITDA) were of USD 6.7 million, 59.1% less than in the same period of 2013, due to lower volumes of mangoes and canned asparagus, and also the lower price of shrimps and grapes.
The EBITDA margin decreased from 20.2% in the fourth quarter of 2013 to 9.2% in the fourth quarter of 2014. For the entire 2014, the EBITDA totalled USD 34.5 million, around 19.1% less than in 2013, which is attributed to lower volumes of canned asparagus, lower prices for avocados, shrimp and grapes, and also higher administrative expenses. The EBITDA margin decreased from 18.4% in 2013 to 12.9% in 2014. On 31 December, 2014, the company had a cash balance of 38.0 million USD.
The prospects for long-term growth in the exotic fruit and vegetable markets are excellent. There is already growth in avocados and mangoes, with room for an increase in per capita consumption in key markets. In the case of asparagus, while consumption is stable, supply is falling mainly due to the reduction in China's exports. The company expects a favourable demand for all fresh produce in general and, specifically, for avocado in the United States and Europe.
The company plans to continue its diversification strategy by increasing its production capacity for blueberries and shrimp and other minor related products.
For more information:
Maria Cristina Couturier
mcouturier@camposol.com.pe