Camposol Holding released their fourth quarter and preliminary full year 2018 financial results. The company's 2018 record EBITDA from continuing operations amounted to USD 150.2 million, up 19.7% compared to previous year. EBITDA margin from continuing operations was 33.0% in line with expectations. Sales amounted to USD 455.4 million, up 23.6% compared to 2017, mainly due to higher volume of blueberries and other products such as grapes, mangoes and tangerines. As of December 31st, 2018, the Company maintained a cash balance of USD 40.9 million, Net Debt was USD 243.3 million, resulting in a Net leverage ratio of 1.6x.
The Company continues executing its strategy by increasing production on the F&V Division (blueberries, avocados and tangerines), consolidating shrimp volumes/yields in the Aquaculture Division (Marinasol), and reinforcing its relations with clients adding value through commercial programs, marketing and service initiatives for which it executed a CAPEX program of over USD 130MM in 2018 which also included automation of packing and IT initiatives.
“2018 was a good year for Camposol. We had a great blueberry campaign with over 80% volume growth compared to 2017. The financial results prove the strength of our value proposition to our clients around the world. We continue focused on becoming a year-round supplier and our investments in Colombia in avocados, Uruguay in tangerines, Peru in blueberries and shrimps, and China in commercial footprint speak for themselves. We want to introduce more our vertical integrated and sustainable model to the consumers in the world through our new slogan “Camposol cares from farm to family”. We will continue strengthening Camposol as a world class company” stated Jorge Ramirez Rubio, CEO of Camposol.
Please click here to see the full fourth quarter and preliminary full year 2018 financial results’ report.
For further information, please contact:
Andrés Colichón Sas
Email: acolichon@camposol.com.pe
Jossue Yesquen
Tel: +511 621 0800 Ext.: 7171
Email: jyesquen@camposol.com.pe