Hortifrut EBITDA rose by nearly half in 2016
Chile-based berry multinational Hortifrut recorded a significant rise in revenue and profit in 2016, with EBITDA up 46.2% year-on-year at US$66.9 million. 
This compares to EBITDA growth of 4% in 2015.
In a release, the company highlighted a 21.1% jump in volume to reach 51,491 metric tons (MT), while sales followed a similar trend rising 22.8% to US$428.5 million.
The company reported 90% of its revenue for the year came from sales of blueberries, raspberries, blackberries and strawberries, while 10% came from value-added products.
Overall, the average price per kilogram in the berry mix was up 1.4%.
Investments for 2016 totaled US$60.4 million, focused mainly on new plantings, maintaining existing orchards and infrastructure. This figure represents 140% growth year-on-year.
Photo: www.shutterstock.com
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