Copeinca: FIRST QUARTER 2012 FINANCIAL RESULTS
(Thomson Reuters ONE) -
As a consequence of a larger than usual second fishing season's quota in 2011,
larger than usual volumes were sold during Q1'12 and COPEINCA reached
significant results.
Revenue for the first quarter of 2012 was USD 99.1 million, increased by USD
71.3 million compared to USD 27.8 million for the same period in 2011.
COPEINCA reached an EBITDA of USD 33.8 million compared to the USD 7.6 million
in the first quarter of 2011, representing an EBITDA margin of 34.1% compared to
27.4% in Q1'11.
Volume sold was 77,734 MT during the first quarter, up from 18,099 MT in the
same period of the previous year, as a consequence of a higher second fishing
season's quota in 2011 and therefore unusually larger volumes sold in Q1'12.
Revenue per ton sold for the first quarter 2012 had an average of USD 1,274/MT
down from USD 1,535/MT in Q1'11, including revenues of USD 3.0 million from the
sale of mackerel and jack mackerel vs. USD 2.1 million in the same period last
year.
In Q1'12, the Company caught 6,600 MT of mackerel and jack mackerel which
represented sales of around USD 3.0 million and 10% of the total catch of Peru
during the period.
On March 1st, Jorge Ramirez was appointed CFO of Copeinca ASA, replacing Eduardo
Castro Mendivil.
On April 6th 2012, the start of the first fishing season was announced. It
started on May 2(nd )2012 at 00:00. The maximum allowable catch limit of anchovy
for indirect human consumption for the first fishing season 2012 is 2,700,000
MT. The first fishing season will end once the maximum allowable catch limit is
reached, otherwise on 31st of July 2012.
The Annual General Meeting of COPEINCA ASA was held on Tuesday 25th April
2012, 10:00 a.m. at Felix Conference Centre, Bryggetorget 3 (Aker Brygge), Oslo.
Minutes are available at www.copeinca.com
Dividends in the amount of NOK 228,150,000 (NOK 3.9 per share), payable on May
10th 2012 were approved at the Annual General Meeting.
Copeinca will be hosting a conference call presentation and Q&A session for
investors, analysts and media today Wednesday, May 9th, 2011, at 4:00 p.m.
(Central European Time (3:00 p.m. BST, 09:00 a.m. EST, 10:00 a.m. EDT). Please
find presentation material and conference call details attached. The latter were
also posted via www.newsweb.no (ticker; COP) and www.copeinca.com on May
9th, 2011.
For further information, please contact:
CEO Pablo Trapunsky, ptrapunsky(at)copeinca.com.pe
CFO Jorge Ramirez, jramirez(at)copeinca.com.pe
Tel. (511) 213-4000
About Copeinca ASA
Copeinca ASA is one of the largest fishmeal and fish oil producers in Peru. The
Company produces its fishmeal and fish oil from anchovy harvested off the coast
of Peru, and most of its production is exported. Key countries for export are
China, Japan, Germany, Canada, Chile and Denmark. Typical customers are fish
and animal feed producers as well as refineries for omega-3 products. Copeinca
ASA runs its operations out of Lima and has its own fleet. Copeinca ASA
operates 5 plants located in strategic locations all around the Peruvian coast
line. The company has around 1,400 part and full time employees.
Please visit www.copeinca.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Q1 2012 Presentation:
http://hugin.info/137275/R/1610144/511680.pdf
Q1 2012 Report:
http://hugin.info/137275/R/1610144/511679.pdf
COPEINCA Invitation Q1 2012 Results:
http://hugin.info/137275/R/1610144/511681.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Copeinca via Thomson Reuters ONE
[HUG#1610144]
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Datum: 09.05.2012 - 02:01 Uhr
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