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COPEINCA ASA PRESENTS FOURTH QUARTER AND PRELIMINARY FULL YEAR 2012 FINANCIAL RESULTS


February 13, 2013 - London

The second fishing season began on November 22nd 2012, and the total allowable catch was 810,000 MT.The quota was divided into two parts: 410,000 MT from November 22nd until December 31st 2012 and 400,000 MT from January 1st 2013 until January 31st 2013.

It was a challenging year due to the significant reduction of volume and operational difficulties, which was partly compensated by the atypical higher inventories at the beginning of the year (sold during the first quarter), and by a significant increase on prices for both fishmeal and fish oil.This is why overall; our year end results are only slightly lower than projected. 

In 2012, total Peruvian allocated quota was 3,510,000 MT versus 6,175,000 MT in 2011. This significant reduction in volume was partially offset by rising prices towards the end of the year.

Revenues as of December 31st 2012 were USD 314 million compared to USD 254 million in 2011 and EBITDA was USD 104 million (representing 33% of net sales) compared to USD 106 million (representing 42% of net sales) in 2011.

11,900 MT of mackerel and jack mackerel were caught during 2012, representing approximately 10% of the quota allocated by Peruvian authorities.

CAPEX of USD 20 million was executed during the year.

For further information, please contact:
CEO Pablo Trapunsky, ptrapunsky@copeinca.com.pe
CFO Angel Chiri, achiri@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

COPEINCA Invitation Q4 2012 Results
Q4 2012 Report
Q4 2012 Presentation



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

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(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

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