Camposol Holding PLC reported an EBITDA and a net profit increase of over 100% last year. In its preliminary fourth-quarter 2024 results, the organization highlighted an increase in EBITDA of 68%, or $184.1 million, compared to the previous year, and a net profit increase of 322%, or $84.7 million. It also saw growth of 18% in sales, an increase of 34% in EBITDA margin last year, and a decrease of 6% in volume sold. 

In the highlights, the organization reported a record monthly EBITDA of $45.6 million in October, the highest in the company’s history.

Some other highlights include Camposol's participation in the China International Blueberry Conference in Yunnan, Camposol shipping its first blueberry containers to the Port of Shanghai, the brand obtaining the global G.A.P certification for its pitahaya farming and packing facility, and earning the first star in Peru’s Carbon Footprint Program, awarded by the Ministry of the Environment for measuring its 2023 carbon footprint in Peru operations.

Ricardo Naranjo, who was appointed CEO of the company during the fourth quarter after serving as interim CEO, said 2024 was an outstanding year for the company, citing many of the company's achievements, including a reduction of its short-term debt exposure and overall debt

"These efforts resulted in a Net Debt-to-EBITDA ratio of 2.41x as of December 2024, a clear improvement over the past two years," he explained. "I am deeply grateful for our team’s commitment, which made these extraordinary 2024 results possible. I take great pride in seeing Camposol continue to establish itself as a world-class company".

Full 2024 year review

The company reported that blueberry volume grew by 25.4% compared to 2023, reaching 46.3 thousand MT, with sales totaling $376.4 million. This marks an 18% increase in revenue and nearly a 19% rise in gross profit.

Grape volumes also experienced growth, and prices increased by 40.1% compared to 2023. The price increase led to a rise in revenue of 65.2% and a gross profit growth of over $12.8 million, fully offsetting the loss recorded in 2023.

They said that this year, they "strategically implemented timely pruning to capture early-season prices, anticipating strong market conditions due to lower expected supply from Peru and concentrated volumes in Q4."

Avocados experienced an initial decline of 21.4% in volume sold, a reduction that was offset by a 42% increase in price compared to 2023. This led to an increase of 12% in sales and a 524% increase in margin compared to 2023. 

Despite the industry-wide production decline in Peru, mango sales totaled USD 34.0 million, with 14.3 thousand MT sold. Revenue remained stable, while gross profit surged by 94%. 

The results are subject to change based on the issuance of the Company’s audited financial statements.