Camposol Holding PLC reports preliminary results for the first quarter of 2025.

LIMA, Peru, May 26, 2025 — Camposol Holding PLC (Camposol or the Company), a multinational company dedicated to providing fresh and healthy foods globally, announced today its preliminary financial results for the first quarter ended March 31, 2025. These results have been prepared in accordance with International Financial Reporting Standards (IFRS) and are subject to change based on the issuance of the Company's audited financial statements.

Camposol reports a record net debt-to-EBITDA ratio of 2,30x, reflecting strong financial discipline and industry leadership.

1) First quarter financial summary:

  • Volume sold: Totaled 42,570 MT, an increase of 51% compared to 1Q 2024.
  • Sales: USD 179 million, 18% more than in Q1 2024.
  • EBITDA: USD 55,4 million, an 8% decrease compared to Q1 2024.
  • EBITDA margin: 31%.
  • Net Income: USD 24,5 million, 32% less than Q1 2024.
  • Net Debt/EBITDA Ratio 1 : 2,30x the lowest level in the last five years.

2) First quarter highlights:

  • March 2025 marked the strongest quarter in the last five years in terms of net debt to EBITDA, underscoring our commitment to a sound financial strategy and a healthy balance sheet.
  • Camposol participated in key international industry events, including Berlin Fruit Logistica 2025, the Fruitnet Berry Congress in Rotterdam, and Nación Berries Bogotá 2025, strengthening relationships with current customers and exploring new business opportunities.
  • We successfully renewed our Global GAP and GRASP certifications in Peru, reaffirming our commitment to sustainable and responsible agricultural practices.
  • Camposol celebrated its 28th anniversary, remaining true to our purpose: We cultivate the land to improve lives.

3) CEO Message:

Ricardo Naranjo, CEO of Camposol, highlighted the Company's solid performance in the first quarter:

We started 2025 with a strong performance, achieving significant volume growth and maintaining rigorous financial execution. Our net debt-to-EBITDA ratio improved to 2,30x, its lowest level in the last five years, reflecting our continued focus on financial health.

Blueberry volumes were solid this quarter, reflecting solid planning, field execution, and close coordination with our sales team. We successfully extended our production window and continued to solidify our position as a trusted supplier throughout the year. Grapes also performed strongly, and mangoes enjoyed a successful season with strong yields, returning to industry-standard levels following last year's exceptionally high prices.

"I'm proud of how our team continues to work with focus and agility, and we remain committed to delivering sustainable growth and long-term value."

4) Review of the first quarter of 2025:

In the blueberry segment, volume grew 36,6% compared to the first quarter of 2024, reaching 22 metric tons. Sales totaled USD 136,4 million, reflecting a 16,0% increase in revenue and a 21,5% increase in gross profit. This performance was driven by the implementation of a selective pruning strategy, which allowed us to concentrate a larger proportion of production in the first quarter. This not only strengthened our position as a supplier throughout the year but also allowed us greater market flexibility and broader commercial reach. Furthermore, it improved operational efficiency and contributed to a lower cost per kilo.

The mango segment got off to a solid start in 2025. While last year's exceptional results were due to unusually high prices amid a global supply shortage—conditions we capitalized on through strong channel execution—this year we operated in a more typical market environment. Still, thanks to solid field execution and operational efficiency, we achieved a gross profit margin of 33%, reaffirming mango's role as a consistent and profitable contributor to our portfolio under normal conditions.

The grape segment had a strong start to the year, with volumes reaching 5,1 thousand metric tons, equivalent to nearly 4,5 times the volume sold in the first quarter of 2024. Sales totaled USD 17,4 million, reflecting a 635% increase in revenue and the recovery of a positive gross profit after a loss in the same period of the previous year. These results highlight the impact of the operational improvements implemented in 2024. Better crop management and increased productivity allowed us to reduce the cost per kilo by 24%, while average prices increased 33% year-over-year. This combination of stronger prices and lower costs drove a gross profit margin of 27%, confirming the progress we have made in strengthening the profitability of this crop.

Finally, our debt restructuring initiatives continued to yield solid results. At the end of the first quarter of 2025, short-term working capital debt—recorded as bank loans on our balance sheet—stood at $40,6 million, the lowest quarter-end level in the last five years. This type of debt now represents less than 10% of our total debt. Our continued financial discipline and focus on improving our capital structure led us to a Net Debt/EBITDA ratio of 2,30x, representing the strongest deleveraging position Camposol has achieved in recent years.

These results have been prepared in accordance with International Financial Reporting Standards (IFRS) and are subject to change based on the issuance of the Company's audited financial statements.

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