LIMA, Peru, Oct. 28, 2014 (GLOBE NEWSWIRE) -- 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. Avocadoes 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.
Executive Chairman Samuel Dyer Coriat and CFO Maria Cristina Couturier will host a conference call today, Tuesday October 28th at 11:00 a.m. PET (Lima), 12:00 p.m. EST (NY). For details on the conference call, please see attached invitation details.
Please see the full third quarter 2014 report and presentation enclosed (or click on the links below of this release if received by e-mail).
For further information, please contact:
Executive Chairman, Samuel Dyer Coriat
CFO, Maria Cristina Couturier
Head of Investor Relations, Maria Elena Olmos
Phone: +511 634 4100
CAMPOSOL is the leading agro industrial company in Peru, the largest exporter of asparagus and soon the first producer of avocadoes in the world. It is involved in the harvest, processing and marketing of high quality agricultural products such as avocados, asparagus, blueberries, grapes, mangos, peppers, artichokes, tangerines and shrimp; which are exported to Europe, the United States of America and Asia.
CAMPOSOL is a vertically integrated company located in Peru, offering fresh, preserved and frozen products. It is the third largest employer of the country, with more than 11 thousand workers in high season, and is committed to support sustainable development through a social responsibility policy and projects that increases the shared-value for all of its stakeholders.
CAMPOSOL was the first Peruvian agro industrial company to present annual audited Sustainability Reports and has achieved the following international certifications: BSCI, Global Gap, IFS, HACCP and BRC among others.
To learn more about CAMPOSOL please visit www.camposol.com.pe
Camposol Q3 2014 Report http://hugin.info/138464/R/1866219/655536.pdf
Camposol Q3 2014 Presentation http://hugin.info/138464/R/1866219/655537.pdf
Camposol Q3 2014 Invitation http://hugin.info/138464/R/1866219/655538.pdf
Source:Camposol Holding Plc.