Camposol Holding PLC Reports Strong Financial Performance for 2024
LIMA, Peru — Camposol Holding PLC, a prominent multinational dedicated to delivering fresh and wholesome food globally, recently announced its preliminary financial performance for the year ending December 31, 2024. This report adheres to International Financial Reporting Standards and awaits further adjustments following the release of its audited financial statements.
Exceptional Financial Results for Full Year 2024
Camposol demonstrated a remarkable financial performance throughout the year, achieving record EBITDA of USD 184.1 million. The company reported a Net Debt to EBITDA ratio of 2.41x, underscoring its leadership in key export markets and financial prudence.
Full Year Highlights
The full financial overview for 2024 showcased some impressive figures:
- Volume Sold: 112,564 MT, representing a 6% decrease compared to 2023.
- Sales: USD 550 million, an 18% increase from 2023's USD 464 million.
- EBITDA: USD 184.1 million, up by 68% from USD 109.4 million in the previous year.
- EBITDA Margin: Enhanced to 34%, up from 24% in 2023.
- Net Profit: Reached USD 84.7 million, a staggering 322% surge from USD 20.1 million in 2023.
- Net Debt/EBITDA Ratio: Improved to 2.41x, significantly down from 4.79x in 2023.
Fourth Quarter Highlights
The fourth quarter of 2024 brought additional noteworthy achievements for Camposol:
- Appointment of Ricardo Naranjo Fernandez as CEO, after serving as interim.
- October marked a historic EBITDA milestone of USD 45.6 million, the highest monthly revenue recorded.
- Participation in the China International Blueberry Conference in Yunnan, enhancing client relationships.
- Operational commencement at the Port of Chancay, enabling shipments to major markets.
- Achievement of Global G.A.P. certification for its pitahaya farming operations.
- Recognition as a top employer for youth, ranking 31st in Peru.
- Improved ESG Responsibility Ranking, moving up to 79th place.
- First star earned in Peru's Carbon Footprint Program for environmental responsibility.
Insight from the CEO
Ricardo Naranjo, the CEO of Camposol, expressed pride in the outstanding performance during 2024. He remarked, "This year was exceptional for Camposol, with significant increases in sales, EBITDA, and net profit, thanks to our team's hard work and dedication. Our strategic initiatives led to a Net Debt-to-EBITDA ratio of 2.41x, reflecting our improved financial stability."
In-Depth Look at Business Segments
Breaking down the performance by segment showcases the company’s broad agricultural portfolio:
Blueberry Segment
In 2024, blueberry volumes surged by 25.4% to 46.3 thousand MT, with revenue totaling USD 376.4 million — an 18.2% revenue increase. Early-season timing strategies were effectively executed to cater to market demands.
Avocado Segment
Despite a 21.4% decline in volume, the avocado sector saw a 12% sales increase due to optimally priced produce, averaging USD 2.59 per kg, which was 42% higher than in 2023.
Mango Unit
Sales remained resilient in the mango unit at USD 34 million despite a reduction in volume. The gross profit soared by 94% due to strategic pricing amidst low production.
Grape Unit
The grape sector thrived, with an impressive volume increase of 17.9% and a 40.1% hike in average prices, leading to significant revenue gains.
Future Engagements and Community Efforts
Camposol is gearing up for a conference call on February 25, 2025, to discuss these results in detail and engage with stakeholders. The company is committed to transparency and invites participants to join and log in ahead of time.
For more information on Camposol's activities and initiatives, interested parties can directly contact Jossue Yesquen Lihim at Camposol.
Frequently Asked Questions
What did Camposol achieve in the year 2024?
Camposol achieved record EBITDA of USD 184.1 million and a significant 322% increase in net profit compared to 2023.
Who is the new CEO of Camposol?
Ricardo Naranjo Fernandez has been appointed as the new CEO, succeeding as interim CEO.
What were the highlights of the fourth quarter?
Key highlights included a record monthly EBITDA of USD 45.6 million and participation in international trade conferences.
How is Camposol ensuring environmental responsibility?
Camposol has earned several certifications, including Global G.A.P., and actively participates in carbon footprint assessments.
How can I learn more about Camposol's future updates?
Interested stakeholders are encouraged to participate in upcoming conference calls and visit Camposol’s investor relations website for the latest information.
