CSOL Holding Ltd. reports fourth quarter and audited full year 2019 financial results
CSOL Holding Ltd. reports fourth quarter and audited full year 2019 financial results
CSOL Holding's 2019 EBITDA from continuing operations amounted to USD 120.2 million and the corresponding EBITDA margin was 36.8%. Sales amounted to USD 326.6.4 million, down 12.7% compared to 2018, mainly due to a lower volume of avocado and lower blueberry prices. As of December 31st, 2019, the Company maintained a cash balance of USD 27.8 million and a Net leverage ratio of 3.1x.
The Company continues executing its strategy to become a year-round supplier of fresh fruit to our global clients complementing its Peruvian window operations with investments in Colombia, Uruguay and lately in Chile and capitalizing on its commercial and logistic platforms, for which it executed a CAPEX program of over USD 138.9MM in 2019 which also included the automation of packing facilities as well as several key technological initiatives.
"Despite an off-year in avocado due to its alternate bearing cycle and the more competitive environment in blueberry, we have been able to keep a strong performance in 2019, which led us to successfully issue an international bond (early in 2020), which will improve our financial flexibility and liquidity, which are key financial variables given the global volatility caused by the COVID-19 epidemic." stated Jorge Ramirez Rubio, CEO of Camposol.
Please see the full fourth quarter and preliminary full year 2019 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
acolichon@camposol.com.pe
Milagritos Olivero, Controller
molivero@camposol.com.pe
Phone: +511 621 0800 Ext.: 7171
About CAMPOSOL
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
Attachment
