Camposol reported sales of US$73.0m in the fourth quarter of 2014, down 10.3 per cent from the year earlier, while total sales for 2014 reached US$267.6m, up 15.7 per cent from 2013.
During the fourth quarter of 2014, EBITDA was US$6.7m, 59.1 per cent lower than in the same period of 2013, explained by lower volumes of preserved asparagus and mangoes, as well as lower prices of shrimp and grapes. EBITDA margin decreased to 9.2 per cent in the fourth quarter of 2014 from 20.2 per cent in Q4 2013.
EBITDA for the full year was US$34.5m, 19.1 per cent lower than in 2013, explained by lower volumes of preserved asparagus, lower prices of avocados, shrimp and grapes, as well as increased administrative expenses, mainly due to one-time advisory fees and personnel expenses. EBITDA margin decreased to 12.9 per cent in 2014 from 18.4 per cent in 2013.
As of 31 December 2014, the company maintained a cash balance of US$38.0m.
“The long-term growth prospects for exotic fruits and vegetables markets are excellent. Avocados and mangoes are growing, with headroom for increased per capita consumption in key markets,” the company said in a statement. “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 avocados specifically in both the US and Europe.”
Camposol said it expects to continue its diversification strategy by increasing the production capacity of blueberries and shrimp and other minor related products.
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