Camposol Holdings has reported on its fourth quarter and full-year results for 2012, with sales climbing 29 per cent to US$67.4m for the former and 9.2 per cent to US$183.2m for the latter.
Despite higher sales, earnings before interest, taxation, depreciation and amortisation (EBITDA) before fair adjustments tumbled 43.9 per cent for the final three months of the year, and dropped 45.1 per cent to US$16.9m.
'During 2012 we experienced a moderate 'El Niño' effect, which increased the average temperature from April through August,' the group said in a statement. 'The adverse climate conditions had a negative impact on company volumes, especially on avocado and asparagus with a volume decrease for the year of 26.8 per cent and 18.4 per cent respectively. This resulted in higher unitary costs by the absorption of fixed costs on lesser volumes.
'In addition, total volume of avocado available in the US market during the Peruvian window was higher than in 2011 due to record high production in California and Mexico, the main suppliers of avocado to the US, which affected prices negatively,' Camposol added.
