Record earnings for Camposol

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Carl Collen

BY CARL COLLEN

Record earnings for Camposol

Peruvian group sees earnings soar, aided in volume growth for both blueberries and grapes

Record earnings for Camposol

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Camposol has revealed that it generated a record earning before interest, taxation, depreciation and amortisation (EBITDA) of US$35.4m in the fourth quarter of 2016, 118.7 per cent higher than the same period of 2015.

According to the Peruvian company, this was due to an increase in volume of blueberries and an increase of volume and prices of both grapes and shrimp from intensive ponds.

For the full year 2016, Camposol generated a record EBITDA of US$76.6m, up 121.1 per cent on the previous year.

Camposol sold 21,048 net tonnes during the fourth quarter, up 4.3 per cent year-on-year, due to higher blueberry, shrimp and grape volumes, net of lower volumes of peppers and mangoes.

The company expects to continue its diversification strategy by increasing the production in the F&V Segment (blueberries and tangerines) and Seafood Segment (conversion to intensive shrimp ponds), as well as continue to reinforce the Trading Segment (direct sales to retailers), adding value to its clients through commercial, marketing and service initiatives which should result in higher margins.

"2016 was a great year for Camposol, we successfully increased volumes in blueberries and shrimps from intensive ponds, and our avocados remained as one of the most stable and profitable crops in the portfolio," said Jorge Luis Ramirez Rubio, CEO of Camposol.

The long-term growth prospects for exotic fruits and vegetables markets are excellent, according to the company.

Avocado and blueberry consumption is growing, with headroom for increased per capita consumption in key markets. The company expects good demand for all fresh produce in general in both the US and Europe.

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