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Avocados, blueberries drive Camposol Q3 sales boost

Camposol Holding Ltd. sold 28,995 net MT during the third quarter of 2015, up 15.6% from Q314 mainly explained by higher volume of avocados and blueberries. The average price was USD 2.53 per net KG, up 3.3% from Q314 mainly explained by an increase in prices of fresh avocados and asparagus.

As a result, Camposol Holding Ltd. reported sales of USD 73.4 million in the third quarter of 2015, up 19.9% from Q314. Average cost of goods sold during Q315 was USD 1.67 per net KG, down 6.2% from Q314 mainly explained by a decrease in cost of blueberries, peppers and mangoes.

During the third quarter of 2015, EBITDA was USD 14.9 million, 260.0% higher than Q314 explained by higher volume and prices for avocados, higher volume and reduced cost per unit of blueberries. EBITDA margin for Q315 increased to 20.3%.

As of September 30, 2015, the Company maintained a cash balance of USD 33.8 million.

The Company expects to continue its diversification strategy by increasing the production in the F&V Segment (blueberries) and Seafood Segment (conversion of shrimp ponds), as well as continue to reinforce the Trading Segment (direct sales to retailers), adding value to its clients through commercial, marketing and service initiatives which should result in higher margins.

The long-term growth prospects for exotic fruits and vegetables markets are excellent. Avocados and blueberries consumption is 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. The Company expects good demand for all fresh produce in general and for avocados specifically in both the United States and Europe.

Click here to see the full third quarter 2015 report and presentation.

For more information:
Maria Cristina Couturier
Tel: +511 634 4100

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