Camposol Holding PLC, a multinational company specializing in fresh and healthy food production, has announced its preliminary financial results for 2024. These results, prepared under International Financial Reporting Standards (IFRS), remain subject to change pending the issuance of audited financial statements.
The company achieved a record EBITDA of $184.1 million, with a net debt-to-EBITDA ratio of 2.41x, reinforcing its market leadership and financial discipline. Total sales reached $550 million, an 18% increase from $464 million in 2023. While total volume sold decreased by 6% to 112,564 metric tons, EBITDA rose by 68%, and net profit surged 322% to $84.7 million. The EBITDA margin improved from 24% in 2023 to 34% in 2024.
During the fourth quarter, Camposol appointed Ricardo Naranjo Fernandez as CEO after his tenure as interim CEO. October 2024 marked a milestone with the company achieving a record monthly EBITDA of $45.6 million. Camposol also participated in the China International Blueberry Conference in Yunnan, expanding relationships with key clients. The company began operations at the Port of Chancay, Peru, successfully shipping its first blueberry containers to Shanghai, ensuring a transit time comparable to shipments to the U.S. Additionally, Camposol obtained Global G.A.P. certification for its pitahaya farming and packing facility.
Camposol was recognized as one of Peru's top employers for professionals under 35, ranking 31st in the Employers for Youth (EFY) and Best Internship Experiences (BIE) rankings. It improved to 79th place in the Merco ESG Responsibility Ranking and earned the first star in Peru's Carbon Footprint Program for measuring its 2023 carbon footprint.
CEO Ricardo Naranjo highlighted Camposol's strong operational execution, with an 18% sales increase, 68% EBITDA growth, and 322% net profit growth in 2024. He emphasized debt restructuring efforts, reducing short-term exposure, and improving financial stability, with short-term working capital debt now under 15% of total debt.
In the blueberry segment, volume rose 25.4% to 46.3 thousand metric tons, generating $376.4 million in sales, an 18.2% increase. Strategic pruning captured early-season prices amid a lower expected supply from Peru.
The avocado segment saw a 21.4% volume decline, but a 42% price increase offset this, leading to 12% sales growth and a 524% rise in margin.
The mango segment reported $34 million in sales, with 14.3 thousand metric tons sold, while gross profit rose 94%, despite an industry-wide production decline in Peru.
The grape segment recorded a 17.9% volume increase, while average prices rose 40.1%, leading to $41.6 million in sales and a 65.2% revenue increase.
Camposol's debt restructuring strengthened its position, with $258 million in available credit lines. The net debt-to-EBITDA ratio of 2.41x underscores its financial stability, ensuring continued growth and sustainability in global markets.
For more information:
Jossue Yesquen Lihim
Camposol
Email: [email protected]
www.investors.camposol.com
