Camposol's 1Q-2018 EBITDA [1] amounted to USD 19.0 million, up 94.6% compared to the same period last year. EBITDA margin increased to 23.2% from 16.8% in 1Q-2018. Sales amounted to USD 82.2 million, up 41.3% compared to the same period last year due to higher volume and prices of blueberries and higher volumes of shrimps. As of March 31 st , 2018, the Company maintained a cash balance of USD 42.5 million, Net Debt was USD 147.3 million, resulting in a Net leverage ratio [2] of 1.1x.
The Company expects to continue its diversification strategy by: increasing production of the F&V Division (blueberries, avocados and tangerines), converting open ponds into intensive ponds in Marinasol, and strengthening relationship with clients adding value through commercial strategies, marketing and service initiatives.
Perspectives of long-term growth of fresh and healthy products are excellent. Avocado and blueberry consumption is growing, with headroom for increased per capita consumption in key markets. The Company expects good demand for its products in North America, Europe and Asia.
"During the first quarter of the year we maintained the growth trend as a result of our strategic decision to focus on fresh and healthy products and to develop a direct road to market. In order to achieve our vision of become the preferred global supplier of healthy, fresh and convenient food, we continued the internationalization of our agricultural operations by acquiring land and plantations of tangerines in Uruguay. We will keep executing our business plan in order to continue strengthening Camposol as a world class company" stated Jorge Ramirez Rubio, CEO of Camposol.
Mr. Andrés Colichón Sas, CFO, and Mr. Jossue Yesquen Lihim will host a conference call today, Wednesday May 23 rd at 10:00 a.m. (Lima). For details on the conference call, please see attached invitation details.
Please see the First Quarter 2018 Financial Results' report and presentation enclosed (or click on the links below of this release if received by e-mail).
For further information, please contact:
Andrés Colichón Sas, CFO
acolichon@camposol.com.pe
Jossue Yesquen, Deputy Manager of Investor Relations
jyesquen@camposol.com.pe
Phone: +511 621 0800 Ext.: 7171
About CAMPOSOL
CAMPOSOL is a vertically integrated producer of branded fresh and healthy food that offers high quality, healthy and fresh food to consumers around the world, based on a sustainable management model. CAMPOSOL is organized into two main business units: Camposol Fruits and Vegetables (fresh produce) and Marinasol (aquaculture) and its portfolio includes superfoods like blueberries, avocados, shrimp, mandarins, among others. Additionally, our international commercial platform is responsible for the commercialization of the products of these two units, with offices in the US, The Netherlands and China.
CAMPOSOL guarantees the full traceability of its products and is committed to supporting sustainable development through social and environmental responsibility policies and projects intended to increase the shared-value for all its stakeholders. On the strength of this value proposition, CAMPOSOL's commercial offices have established long-term relationships with the top worldwide supermarket chains and service them directly.
CAMPOSOL is also an active member of the Global Compact since 2008. It presents annual Sustainability Reports aligned to the GRI Methodology 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
[1] EBITDA is a non-IFRS financial measure. For a reconciliation of EBITDA to profit (loss) for the period/year and for Non-IFRS Measures and Other Information, see 1Q-2018 Camposol Holding Report.
[2] Net leverage ratio = (Gross debt - cash) / EBITDA
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