Turnover growth in Q2 for Camposol despite difficult avocado market

The Peruvian company Camposol delayed an IPO earlier this month due to

the market situation. The results of the company over the second quarter of this financial year show green figures despite a difficult avocado market. The turnover rose to 140.1 million dollars, which is 8.9% more than in the same period a year previous.

The higher turnover is mainly thanks to the blueberry market. Both the volume and the price compensated for the lower volume of avocado. The company sold 5,879 tonnes of blueberries in the first six months of this year. In the previous year 3,415 tonnes were marketed. The average price rose from 6.06 dollars per kilo in 2017 to 7.70 dollars per kilo this year. This equals an increase of 72.1% in volume and 26.9% in price, compared to an increase of 18.3% in the costs. The increase of the volume is primarily thanks to a larger share of the area coming into the middle of high yield phase than in the second quarter of 2017.

Due to a delay in the avocado harvest the volume, as well as the turnover, decreased for this product group. Camposol put 9,266 tonnes in the market. A year previously this was still 15,420 tonnes. The average price decrease from 2.77 dollars per kilo to 2.37 dollars per kilo. This is equal to a decline of 39.9% in volume and 14.64% in price compared to the same period in 2017.

The brute profit matches 41.2 million dollars (2017: 40.2 million dollars). EBITDA stands at 34.1 million dollars (2017: 25.9 million dollars).

Camposol is positive about the future. The growth expectations of avocados, blueberries and mandarins remain favourable. In the US the consumption per head of the population for these three products is still rising. The demand for the products will remain good, but primarily blueberries and avocados will be in high demand in the US, Europe and China.

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