CAMPOSOL, with sales of USD 149.9 million reported a record EBITDA of USD 54.0 million in the third quarter of 2018, up 10.4% compared to the third quarter of 2017, and a record EBITDA of USD 88.4 million for the first nine months of the year, up 4.5% compared to the same period last year. LTM EBITDA amounted to USD 129.0 million. During the first nine month of the year, sales reached USD 290.0 million, up 20.5% vs. the same period last year, and LTM sales reached USD 417.8 million, 13.4% higher compared to year end 2017. This increase is mainly explained by higher volumes and prices of blueberries. As of September 30th, 2018, the Company maintained a cash balance of USD 29.3 million and it’s net leverage ratio was 1.8x.
CAMPOSOL reached over 2,000 planted hectares of blueberries, finalized investments in its top of the line blueberry packing facility and continued its expansion plan with tangerines in Uruguay and avocadoes in Colombia.
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.
“Nowadays, the main supermarket chains in the world recognize the strength of CAMPOSOL’s value proposition based on high levels of quality, consistency, traceability and on-time delivery of our products. This performance is possible because of our vertically integrated production model, which is also socially and environmentally responsible. CAMPOSOL is now moving up from being a window player to a year-round supplier and this is how we decided to go to Colombia to produce avocado all year round, together with Peru. CAMPOSOL has also arrived in Uruguay and soon will be the most important seedless tangerines player in the southern hemisphere and continue growing strongly in blueberries and shrimps from Peru, because of the advantage of being able to produce them all year round, with a continuous presence at the point of sale and an intelligent and focused communication” stated Jorge Ramirez Rubio, CEO of CAMPOSOL.