Camposol Holding s 2018 record EBITDA from continuing operations amounted to USD 150.2 million, up 19.7% compared to previous year. EBITDA margin from continuing operations was 33.0% in line with expectations. Sales amounted to USD 455.4 million, up 23.6% compared to 2017, mainly due to higher volume of blueberries and other products such as grapes, mangoes and tangerines. As of December 31st, 2018, the Company maintained a cash balance of USD 40.9 million, Net Debt was USD 243.3 million, resulting in a Net leverage ratio of 1.6x.
The Company continues executing its strategy by increasing production on the F&V Division (blueberries, avocados and tangerines), consolidating shrimp volumes/yields in the Aquaculture Division (Marinasol), and reinforcing its relations with clients adding value through commercial programs, marketing and service initiatives for which it executed a CAPEX program of over USD 130MM in 2018 which also included automation of packing and IT initiatives.
2018 was a good year for Camposol. We had a great blueberry campaign with over 80% volume growth compared to 2017. The financial results prove the strength of our value proposition to our clients around the world. We continue focused on becoming a year-round supplier and our investments in Colombia in avocados, Uruguay in tangerines, Peru in blueberries and shrimps, and China in commercial footprint speak for themselves. We want to introduce more our vertical integrated and sustainable model to the consumers in the world through our new slogan Camposol cares from farm to family. We will continue strengthening Camposol as a world class company stated Jorge Ramirez Rubio, CEO of Camposol.
Please see the full fourth quarter and preliminary full year 2018 financial results report enclosed (or click on the links below of this release if received by e-mail).
For further information, please contact:Andrés Colichón Sas, CFO
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, CAMPOSOLs 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
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