Camposol grows sales but sees earnings weaken in 2021

Camposol grows sales but sees earnings weaken in 2021

Camposol grows sales but sees earnings weaken in 2021

Peruvian based produce marketer Camposol published a 4Q21 and end of year 2021 earnings report which showed a 12.4 percent increase in sales in 2021 to reach $358.8 million, but saw its EBITDA decrease 2.9 percent compared to 2020 to reach $113.1 million.

According to its report, the sales were up due to increases in blueberry volumes and also based on higher yields from its planted blueberry crops. 

The EBITDA margin for the year amounted to 29 percent in 2021, down from 34 percent in 2020 and 27 percent in 2019.

The company did not publish its net profit, but did detail that profits before taxes for 2021 totaled $25.5 million, a 55.8 percent decrease. 

The company also published an update on its planted crops, both owned and leased. Peru accounts for 72% of its 9,281 owned acreage, with Uruguay amounting to 20 percent and Colombia 8 percent. It also has a limited presence in Chile and Mexico, mostly in leased fields. These latter nations are where it sources varieties of cherries (Chile) and compliments its blueberry sourcing for U.S. customers (Mexico). 

As far as destinations, for the fourth quarter of 2021 the U.S. market generated 29% of its revenue, followed by Europe at 34 percent and Asia at 8 percent.

Camposol earnings releases are voluntary, but it has flirted with an IPO for several years, withdrawing from its latest effort to list in the US in March of this year.

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