CORRECTION: Camposol Holding Plc reports Fourth Quarter and Preliminary Year 2013 Results
Camposol Holding Plc. reported sales of USD 81.3 million in the fourth quarter
of 2013, up 20.6% from Q412 and total sales of USD 231.2 million for 2013, up
26.2% from 2012.
During the fourth quarter of 2013, EBITDA before fair value adjustments
(b.f.v.a.) was USD 16.4 million, 206.6% lower than Q412, explained by higher
volumes of avocadoes, grapes and blueberries, as well as increasing prices of
shrimp and asparagus. EBITDA margin increased to 20.2%.
For the full year 2013, EBITDA before fair value adjustments (b.f.v.a.) was USD
42.6 million, 152.7% higher than in 2012, also explained by higher volumes of
avocadoes and grapes, as well as increasing prices of shrimp and asparagus.
Â EBITDA margin increased to 18.4% in 2013 from 9.2% in 2012.
As of December 31(st )2013, the Company maintained a cash balance of USD 27.2
The long term growth prospects for exotic fruits and vegetables markets are
excellent. Â Avocadoes and mango are growing, with headroom for increased per
capita consumption in key markets. Â 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
avocadoes specifically in both the United States and Europe.
On September 24(th )2013, Oslo BÃ¸rs, in capacity as take-over supervisory
authority, approved the Mandatory Offer to acquire the shares in Camposol
Holding Plc by DCH at a price per NOK 25 (the "Offer"). The Offer was valid
until October 23(rd )2013. Â DCH received total acceptances for 4,985,550 shares,
which included the 2,968,502 shares owned by Camposol Holding Plc and Camposol
SA in the Company. Together with the 22,046,497 shares already held by DCH, at
completion of the Offer, DCH held 26,992,047 shares in the Company, representing
90.47% of the total shareholding.
On December 12(th) 2013, following the settlement of the mandatory takeover bid
offer dated September 24(th )2013, CySEC approved the application submitted by
DCH to acquire from the minority shareholders all the shares in the issued share
capital of Camposol Holding Plc which DCH did not own (directly or indirectly)
at that time. Â The squeeze-out was effective as of December 13(th )2013.
As of December 20(th) 2013, the shares of Camposol Holding Plc were delisted
from Oslo BÃ¸rs.
On January 6(th) 2014, Maria Cristina Couturier was appointed CFO of Camposol
Holding Plc, overseeing corporate finance, accounting, treasury, and business
Executive Chairman Samuel Dyer Coriat and CFO Maria Cristina Couturier will host
a conference call today, Friday January 31(st) at 2:00 p.m. GMT (London) / 9:00
a.m. PET/EST (Lima/NY). Â For details on the conference call, please see attached
Please see the full fourth quarter and preliminary year 2013 report and
presentation enclosed (or click on the links below of this release if received
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 asparagus, avocadoes, grapes, mangoes, peppers, artichokes, tangerines
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 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.
Please visit www.camposol.com.pe
Camposol Q4 2013 Presentation:
Camposol Q4 2013 Report:
Camposol Q4 2013 Invitation:
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Source: Camposol Holding Plc. via GlobeNewswire