Q1 2020 financial results

Camposol sales up 12.6% due to increases in mango and grape volumes

Camposol Holding Ltd. reported their first quarter 2020 financial results. Camposol's Holding's 1Q-2020 EBITDA amounted to USD 3.7 million and the corresponding EBITDA margin was 5.8%. Sales amounted to USD 63.6 million, up 12.6% compared to 1Q-2019, mainly due to increases in mango and grapes volumes. LTM Sales and EBITDA amounted to USD 333.8 million and USD 117.6 million respectively.  As of March 31st, 2020, the company maintained a cash balance of USD 29.1 million and a net leverage ratio of 3.3x.

The Company continues executing its strategy to become a year-round supplier of fresh fruit to our global clients complementing its Peruvian window operations with investments in Colombia, Uruguay and lately in Chile, and capitalizing on its commercial and logistic platforms.

In January 2020, Camposol returned to the international capital markets with the successful placement of USD 350 million in senior unsecured notes. The proceeds of this issue were used to refinance all the outstanding long-term debt with commercial banks and to finance a portion of expansion CAPEX.

“Our lately bond transaction marked our successful return to the international capital markets, with a book that was 6x times oversubscribed. The transaction improved our financial flexibility and levered our capacity to continue deploying our strategy, which is now much more relevant given the uncertainties that arose with the COVID-19 pandemic,” stated Jorge Ramirez Rubio, CEO of Camposol.

To read the full first quarter 2020 financial results’ report, click here.

For more information:
Andrés Colichón Sas
Email: acolichon@camposol.com.pe 

Publication date:

Receive the daily newsletter in your email for free | Click here

Other news in this sector:

© FreshPlaza.com 2020

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber