Camposol sales see increase in Q1 2015
As a result, Camposol Holding Ltd. reported sales of USD 71.7 million in the first quarter of 2015, up 18.6% from Q114 mainly due to an increase in volume sold of peppers, shrimp and other seafood products. Average cost of goods sold during Q115 was USD 2.42 per net KG, up 37.5% from Q114 mainly explained by an increase in costs of white asparagus, shrimp and peppers, due to lower yields.
During the first quarter of 2015, EBITDA was USD 1.5 million, 79.7% lower than Q114 explained by lower volumes of white asparagus, as well as increasing cost of goods sold of shrimp, asparagus and preserved peppers. EBITDA margin for Q115 decreased to 2.1%.
As of March 31st 2015, the Company maintained a cash balance of USD 28.4 million.
On March 31st 2015, Camposol S.A. sold 302.6 Has to Desarrollo Inmobiliario Marverde S.A.C., a real estate company owned by Generación Del Pacífico Grupo SL., for USD 8.1 million.
“The Company expects to continue its diversification strategy by increasing the production in the F&V Segment (blueberries) and Seafood Segment (shrimp farming), as well as continue to reinforce our Trading Segment (direct sales to retailers), adding value to its clients through commercial, marketing and service initiatives which should result in higher margins. Within the next 2 years, we will see an important growth in our volumes (blueberries, shrimp and avocados), without additional substantial CapEx,” stated Samuel Dyer Coriat, Executive Chairman 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. In the case of asparagus, although consumption is stable, supply is falling due mainly to reduced exports from China. The Company expects good demand for all fresh produce in general and for avocados specifically in both the United States and Europe.
For more information:
Maria Cristina Couturier
Camposol
Phone: +511 634 4100
Email: mcouturier@camposol.com.pe
www.camposol.com.pe