Europe Edition
Camposol Holding Plc. reported sales of USD 38.3 million in the third quarter of 2012, down 22.5% from Q311, mainly explained by lower volumes of avocado, due to climatic conditions in Peru and record high production in USA and Mexico, which adversely affected prices in the US market.
EBITDA before fair value adjustments (b.f.v.a.) of USD 4.4 million, 70.8% lower than Q311. EBITDA margin decreased to 11.5%. Last twelve months (LTM) EBITDA as of September 30th 2012 was USD 21.1 million compared to USD 26.3 million for the LTM as of September 30th 2011.
As of September 30th, the Company maintains a Cash Balance of USD 25.8 million.
Volume sold during Q312 was 14,575 MT, down 16.63% compared to the same period in 2011 and average prices were USD 2,627, down 17% from USD 2,826 during the same period in 2011.
The long term growth prospects for exotic fruits & vegetables markets are excellent. Avocado and mango are 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. Company expects good demand for all fresh produce in general and for avocado specifically in both the United States and Europe.
There has been a mild "El Niño" effect during 2012 which has caused us to experience a warm winter. This lack of cold hours needed for the growth of the plants had a negative effect on our volumes of avocado this year and will affect those of asparagus in the third and fourth quarter.
Executive Chairman Samuel Dyer Coriat and CFO Jorge Ramirez will host a conference call today, Tuesday October 30th at 03:00 pm CET/ 08:00 am Lima. For details on the conference call, please visit Camposol's website: www.camposol.com.pe
Contact:
Samuel Dyer Coriat
Camposol Holding Plc.
Email: sdyerc@camposol.com.pe
Jorge Ramirez
Email: jramirez@camposol.com.pe
Phone: +511 621-0804
www.camposol.com.pe
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