Low avocado prices affect Camposol Q3 sales

Camposol Holding Ltd reported sales of USD 61.3 million in the third quarter of 2014, down 2.0% from Q313 mainly due to lower prices of avocados.

For the period ended on September 2014, EBITDA was USD 27.8 million, 5.9% higher than previous year explained by an increase of 30.8% in volumes, mainly of avocados, mangos and shrimp. EBITDA margin for Q314 decreased to 6.8% due to realized avocado prices were lower than compared to the 2013 season.

Volume sold during Q314 was 25,034 net MT, down 0.2% from Q313 explained mainly by a decrease in volumes of fresh avocados. Average price for Q314 was USD 2.45 per net KG, down 1.6% from Q313 mainly explained by a decrease in prices of avocados.

As of September 30th 2014, the Company maintained a cash balance of USD 33.9 million.

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

Please click here to see the full third quarter 2014 report.

For more information:
Samuel Dyer Coriat
Email: sdyerc@camposol.com.pe

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