CSOL Holding Ltd. reports third quarter 2020 financial results
CSOL Holding's EBITDA for the first nine months of 2020 amounted to USD 55.5 million and the corresponding EBITDA margin was 27.3%. Sales amounted to USD 203.5 million, up 1.8% compared to the first nine months of 2019, mainly due to increases in mangoes, grapes, tangerines and avocados volumes. LTM Sales and EBITDA amounted to USD 330.2 million and USD 123.3 million respectively. As of September 30th, 2020, the Company maintained a cash balance of USD 33.9 million and a net leverage ratio of 3.4x.
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.
Despite the global pandemic context, the Company has achieved a higher EBITDA margin LTM 3Q-2020 compared to 2019, this result was due to higher yields of our crops, which impacted in higher volumes through agricultural management improvements. In Q3, notwithstanding Covid 19 caused a decrease in income and a global contraction in consumption, we finished our avocados season in Peru with higher volumes than showed in 2019. In that sense, we have continued with our expansion plan by increasing our planted hectares in Colombia and Uruguay", said Jorge Ramírez Rubio, CEO of Camposol.
Please read the enclosed third quarter 2020 financial results report (or click on the links below 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 multinational company that provides families around the world with fresh and healthy food. It has operations in Peru, Colombia, and Uruguay, commercial offices in the United States, Europe, and Asia, trusting relationships with the main supermarkets worldwide, as well as customers in more than 40 countries. It is involved in the harvest, processing and marketing of high quality agricultural products such as avocados, blueberries, grapes, mangoes and mandarins, among others.
Camposol is a vertically integrated company that is committed to supporting sustainable development through social and environmental responsibility policies and projects aimed at increasing the shared-value for all of its stakeholders. It is also an active member of the United Nations Global Compact, issues annual GRI-aligned sustainability reports and has achieved the following international certifications: BSCI, Global Gap, IFS, HACCP, OHSAS, ISO 14001, Rainforest Alliance, and BRC, among others.
To learn more about CAMPOSOL please visit: www.camposol.com.pe
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