Camposol has released their financial results for the third quarter of 2020. CSOL Holding's EBITDA for the first nine months of 2020 amounted to USD 55.5 million and the corresponding EBITDA margin was 27.3%. Sales amounted to USD 203.5 million, up 1.8% compared to the first nine months of 2019, mainly due to increases in mangoes, grapes, tangerines and avocados volumes. LTM Sales and EBITDA amounted to USD 330.2 million and USD 123.3 million respectively. As of September 30th, 2020, the company maintained a cash balance of USD 33.9 million and a net leverage ratio of 3.4x.
The company continues executing its strategy to become a year-round supplier of fresh fruit to their global clients complementing its Peruvian window operations with investments in Colombia, Uruguay and lately in Chile, and capitalizing on its commercial and logistic platforms.
“Our YTD 2020 financial ratios are strong in spite of all COVID restrictions in both markets and operations. We have been able to ensure the health and wellbeing of our people in all sites and the continuity of our operations. We have finished our avocado and tangerine seasons with strong results. Our value proposition to our clients, based on vertically integrated and socially and environmentally responsible model, has proven to be strong and resilient. We will continue with our plans to become a year round supplier, while strengthening our service level to our clients and our internal process to consolidate Camposol as a global company," said Jorge Ramirez Rubio, CEO of Camposol.
To see the full Q3 financial results, click here.