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. EBITDA margin increased to 18.4% in 2013 from 9.2%
in 2012.
As of December 31st 2013, the
Company maintained a cash balance of USD 27.2 million.
The long term growth prospects for
exotic fruits and vegetables markets are excellent. Avocadoes
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. The Company expects good demand for all
fresh produce in general and for avocadoes specifically in both the
United States and Europe.
On September 24th 2013,
Oslo Børs, 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 23rd 2013.
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 12th 2013,
following the settlement of the mandatory takeover bid offer dated
September 24th 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. The squeeze-out was effective as of December
13th 2013.
As of December 20th 2013, the
shares of Camposol Holding Plc were delisted from Oslo Børs.
On January 6th 2014,
Maria Cristina Couturier was appointed CFO of Camposol Holding Plc,
overseeing corporate finance, accounting, treasury, and business
planning.
Executive Chairman Samuel Dyer
Coriat and CFO Maria Cristina Couturier will host a conference call
today, Friday January 31st at 2:00 p.m.
GMT (London) / 9:00 a.m. PET/EST (Lima/NY). For details on
the conference call, please see attached invitation details.
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 by
e-mail).
For further information, please
contact:
Executive Chairman, Samuel Dyer
Coriat
sdyerc@camposol.com.pe
CFO, Maria Cristina
Couturier
mcouturier@gdp.com.pe
Head of Investor Relations, Maria
Elena Olmos
molmos@gdp.com.pe
Phone: +511 634 4100
About CAMPOSOL
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
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Camposol Holding Plc. via Globenewswire
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