Peruvian produce multinational Camposol notched a 20% year-on-year EBITDA increase to US$150.2 million in 2018 driven largely by a significant rise in blueberry volumes.
EBITDA margin from continuing operations was 33%, which Camposol said was in line with expectations. Total sales amounted to US$455.4 million, up 24% year-on-year, mainly due to higher volume of blueberries and other products such as table grapes, mangoes and tangerines.
The company sold US$205.2 million of blueberries over the year, up a massive 80% from 2017, with gross profit rising 71% to US$98.8 million. For avocados, sales fell by 8% to US$112.3 million while gross profit for the category fell by 20% to US$55.9 million.
“2018 was a good year for Camposol," said Jorge Ramirez Rubio, CEO of Camposol.
"We had a great blueberry campaign with over 80% volume growth compared to 2017. The financial results prove the strength of our value proposition to our clients around the world. We continue focused on becoming a year-round supplier and our investments in Colombia in avocados, Uruguay in tangerines, Peru in blueberries and shrimps, and China in commercial footprint speak for themselves.
"We want to introduce more our vertical integrated and sustainable model to the consumers in the world through our new slogan “Camposol cares from farm to family”. We will continue strengthening Camposol as a world class company."