Camposol Holding reports record fourth quarter for 2016
For the full year 2016, Camposol generated a record EBITDA of USD 76.6 million, 121.1% higher than for 2015. EBITDA margin reached 27.7%, 13.1 percentage points higher than for 2015. Net debt was USD 174.3 million, resulting in a net leverage ratio of 2.3x.
Camposol sold 21,048 net MT during 4Q-16, up 4.3% from 4Q-15, due to higher blueberries, shrimps and grapes volumes net of lower volumes of peppers and mangos.
During 4Q-16 average realized price was USD 4.85 per net KG, up 26.5% from 4Q-15, mainly driven by higher prices from grapes and shrimps. As a result, total sales reached USD 102.0 million, up 31.9% from 4Q-15.
The Company expects to continue its diversification strategy by increasing the production in the F&V Segment (blueberries and tangerines) and Seafood Segment (conversion to intensive 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.
"2016 was a great year for Camposol, we successfully increased volumes in blueberries and shrimps from intensive ponds, and our avocados remained as one of the most stable and profitable crops in the portfolio. After exchanging 73.75% of the Senior Unsecured Notes due on 2017 last May, we successfully paid the remaining USD 46.9 million outstanding balance as of February 2nd, 2017. With favorable market trends and as long as we are highly focused on our strategy, we will continue strengthening Camposol as a world class company", stated Jorge Luis Ramirez Rubio, CEO of Camposol Holding Ltd.
"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. The Company expects good demand for all fresh produce in general in both the United States and Europe."
For more information:
Jorge Luis Ramirez Rubio
Camposol Holdings
Tel: +511 621 0800 Ext. 7171
jramirezr@camposol.com.pe