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Camposol Holding Plc reports Fourth Quarter and Preliminary Year 2012 Results



2013-02-28 08:14:25 -


Camposol Holding Plc. reported sales of USD 67.4 million in the fourth quarter
of 2012, up 29% from Q411 and total sales of USD 183.2 million for 2012, up
9.2% from 2011.

During the fourth quarter of 2012, EBITDA before fair value adjustments
(b.f.v.a.) was USD 5.3 million, 43.9% lower than Q411, while EBITDA margin
decreased to 7.9%.  For the full year 2012, EBITDA before fair value adjustments
(b.f.v.a.) was USD 16.9 million, 45.1% lower than 2011, while EBITDA margin
decreased to 9.2% in 2012 from 18.4% in 2011.

During 2012 we experienced a moderate "El Niño" effect, which increased the
average temperature from April thru August.  The adverse climate conditions had
a negative impact on company volumes, especially on avocado and asparagus with a
volume decrease for the year of 26.8% and 18.4% respectively.  This resulted in
higher unitary costs by the absorption of fixed costs on lesser volumes.  In
addition, total volume of avocado available in the US market during the Peruvian
window was higher than in 2011 due to record high production in California and
Mexico, the main suppliers of avocado to the US, which affected prices
negatively.



As of December 31(st) 2012, the Company maintains a Cash Balance of USD 28.5
million.

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

On January 26th, 2012 CAMPOSOL S.A., Camposol Holding Plc's subsidiary,
successfully issued a USD 125 MM 9.875% senior unsecured notes due 2017, which
are guaranteed by Camposol Holding Plc as parent guarantor and Marinazul S.A.
and Campoinca S.A. as subsidiary guarantors. The net proceeds were used to pay
long term debt, to finance capital expenditures and for general corporate uses.

On February 27th, 2012 the Board of Directors of Camposol Holding Plc appointed
Mr. Sam Aguirre as member of the Board of Directors.  As of the same date, Mr.
Christopher Yetter, a member of the Board of Directors of Camposol Holding Plc
since 2007, presented his resignation.

On March 12th, 2012 pursuant to the authorization to acquire own shares granted
by the Annual General Meeting held on May 24th 2011, Camposol Holding PLC made
an offer to buy back own shares at a share price of NOK 26.  The Offer was valid
until March 26th 2012 and limited to an aggregate total of 2,250,000 shares
(7.55% of the total shareholding).  On June 7th 2012, a new offer was made to
buy back own shares at a share price of NOK 22.25.  Such offer was valid until
June 15th and limited to an aggregate total of 142,712 shares (0.48% of the
total shareholding).  After settlement of the above mentioned offers, the
Company owns 2,968,502 shares (9.95% of the total shareholding).

Please see the full report and presentation enclosed (or click on the links
below of this release if received by e-mail).

Executive Chairman Samuel Dyer Coriat and CFO Jorge Ramirez will host a
conference call today, Thursday February 28th at 03:00 pm CET/ 09:00 am Lima.
For details on the conference call, please visit Camposol's website:
www.camposol.com.pe (Press / News)

Please see the full fourth quarter and preliminary year 2012 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
sdyerc@camposol.com.pe

CFO, Jorge Ramirez
jramirez@camposol.com.pe

Phone: +511 621-0804

About CAMPOSOL

CAMPOSOL is the leading agro industrial company in Peru, the largest exporter of
asparagus and soon the first producer of avocado in the world. It is involved in
the harvest, processing and marketing of high quality agricultural products such
as asparagus, avocados, grapes, mangoes, peppers, artichokes, mandarins and
blueberries; which are exported to key markets in 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 13 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 us at www.camposol.com.pe.

Please visit www.camposol.com.pe

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

Camposol Q4 2012 Presentation:
hugin.info/138464/R/1681876/549985.pdf

Camposol Q4 2012 Report:
hugin.info/138464/R/1681876/549986.pdf

Camposol Q4 2012 Invitation:
hugin.info/138464/R/1681876/549984.pdf



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Source: Camposol Holding Plc. via Thomson Reuters ONE
[HUG#1681876]


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