CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

(USD in thousands except earnings per share)

Continuing operations:
Revenues
Cost of sales
Gross profit
Net adjustment from change in fair value of biological assets
Profit after adjusment from biological assets
Administrative expenses
Selling expenses
Other income
Other expenses
Operating profit
Share of gain (loss) of associated companies
Financial income
Financial costs
Change in fair value of derivative financial instruments
Currency translation differences
Profit (loss) before income tax
Income tax
Profit (loss) for the period from continuing operations

2008
Q3

Q1

Q2

31,523
(26,822)
4,701
1,644
6,345
(3,469)
(3,391)
273
(538)
(780)
1,739
(3,283)
5,810
1,425
4,911
(808)
4,103

37,077
(24,190)
12,887
(867)
12,020
(3,380)
(3,886)
1,144
(1,640)
4,258
67
124
(2,051)
(5,485)
(1,270)
(4,357)
649
(3,708)

44,984
(33,586)
11,398
(1,050)
10,348
(2,200)
(4,944)
28
373
3,605
314
(2,888)
(7,211)
(3,699)
(9,879)
1,654
(8,225)

27,121
(25,764)
1,357
17,349
18,706
(3,610)
(4,065)
(712)
(3,001)
7,318
(146)
(202)
(3,152)
6,886
(498)
10,206
(1,391)
8,815

Discontinued operations:
Loss for the period from discotinued operations
Profit (loss) for the period

4,103

(3,708)

(8,225)

8,815

Depreciation & Amortization

Workers Profit Sharing
Amortization without IAS-41
Stock options
EBITDA A.F.V.A.
EBITDA B.F.V.A.

1,280
727
377
1,492
225

2,674
(609)
418
239
7,058
8,343

682
(1,226)
538
256
2,916
4,504

1,682
915
490
66
13,694
(3,165)

Net profit (loss) attributable to:

Non-controlling interests
Equity holders of Camposol Holding PLC

4,103

(3,708)

(8,225)

8,815

0.147
0.147

(0.131)
(0.131)

(0.287)
(0.287)

0.302
0.302

Earnings per share in USD

From continuing operations:
Basic
Diluted
From discontinued operations:
Basic
Diluted
From total operations:
Basic
Diluted

Average outstanding shares in millions*)

For Basic calculation
Outstanding shares*) during the quarter.
Outstanding shares*) year to date.
For Diluted calculation
Outstanding shares*) during the quarter.
Outstanding shares*) year to date.
*) Weighted average number of ordinary outstanding shares.
Number of ordinary shares at end of period

0.147
0.147

(0.131)
(0.131)

Q4

(0.287)
(0.287)

TOTAL

2009
Q3

Q1

Q2

32,910
(27,708)
5,202
5,593
10,795
(2,582)
(3,804)
613
(773)
4,249
14
(3,141)
(1,164)
(42)
2
(40)

31,210
(24,452)
6,758
(2,434)
4,324
(1,974)
(4,512)
(344)
(208)
(2,714)
299
16
(2,976)
395
(4,980)
1,141
(3,839)

(40)

(3,839)

1,852
(1)
819
6,260
1,486

1,847
(941)
864
74
(1,182)
2,116

985

(40)

(3,839)

612

5,272

0.034
0.034

(0.001)
(0.001)

(0.129)
(0.129)

0.021
0.021

0.177
0.177

140,705
(110,362)
30,343
17,076
47,419
(12,659)
(16,286)
733
(4,806)
14,401
(79)
1,975
(11,374)
(4,042)
881
104
985

985
6,318
(193)
1,823
561
25,160
9,907

0.302
0.302

0.034
0.034

(0.001)
(0.001)

(0.129)
(0.129)

Q4

25,941
(20,407)
5,534
2,322
7,856
(3,145)
(2,731)
181
137
2,298
(307)
15
(2,465)
749
290
322
612

612
1,838
(87)
859
243
3,974
2,511

TOTAL

Q1

Q2

2010
Q3

Q4

32,712
(26,041)
6,671
18,548
25,219
(5,613)
(3,254)
909
(6,574)
10,687
156
19
(2,437)
(281)
8,144
(2,872)
5,272

122,773
(98,608)
24,165
24,029
48,194
(13,314)
(14,301)
1,359
(7,418)
14,520
148
64
(11,019)
(301)
3,412
(1,407)
2,005

25,831
(18,019)
7,812
79
7,891
(2,969)
(3,041)
136
(230)
1,787
179
7
(2,485)
(1,566)
(2,078)
72
(2,006)

27,201
(18,101)
9,100
2,165
11,265
(3,973)
(3,584)
1,312
(605)
4,415
(1)
44
(8,225)
(745)
(4,512)
(796)
(5,308)

30,449
(20,061)
10,388
5,113
15,501
(3,719)
(3,707)
1,533
(405)
9,203
(214)
72
(1,914)
454
7,601
212
7,813

5,272

2,005

(2,006)

(5,308)

7,813

1,686
4
1,068
45
3,616
4,605

1,875
596
1,054
32
6,211
5,100

1,757
(101)
1,052
36
9,767
5,706

2,005

(2,006)

(5,308)

(1)
7,814

0.067
0.067

(0.067)
(0.067)

(0.178)
(0.178)

0.262
0.262

1,833
2,196
901
(61)
20,320
2,673

7,370
1,167
3,443
256
29,372
8,786

0.021
0.021

0.177
0.177

0.067
0.067

(0.067)
(0.067)

(0.178)
(0.178)

0.262
0.262

27,925,070
27,925,070

28,212,690
29,833,820

28,693,799
29,833,820

29,174,909
29,833,820

29,174,909
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

27,925,070
27,925,070

28,212,690
29,833,820

28,693,799
29,833,820

29,174,909
29,833,820

29,174,909
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

29,833,820
29,833,820

27,925,070

29,833,820

29,833,820

29,833,820

29,833,820

29,833,820

29,833,820

29,833,820

29,833,820

29,833,820

29,833,820

29,833,820

29,833,820

29,833,820

CAMPOSOL HOLDING PLC

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
2008
(USD in thousands)

31 Mar

30 Jun

2009
30 Sep

31 Dec

31 Mar

Assets
Non-current assets
Property, plant and equipment, net
Investments in associated companies
Intangibles
Non-current portion of biological assets
Other accounts receivable
Total non-current assets

106,075
417
27,140
84,406
5,012
223,050

107,509
421
28,611
84,846
221,387

115,324
420
29,117
86,833
231,694

120,360
274
27,580
99,962
248,176

119,917
274
27,268
108,154
255,613

Current assets
Prepaid expenses
Current portion of biological assets
Inventories
Other accounts receivable
Trade accounts receivable
Cash and cash equivalents
Total current assets
Total assets

2,408
10,177
41,609
10,980
31,870
24,176
121,220
344,270

2,516
11,025
52,423
16,740
35,892
27,262
145,858
367,245

1,821
4,666
64,269
18,233
36,722
21,094
146,805
378,499

1,339
15,386
58,037
14,077
25,822
5,770
120,431
368,607

1,211
13,161
46,473
16,221
22,160
5,215
104,441
360,054

25,895
179,525
17,288
222,708
88
222,796

507
228,991
239
369
230,106
88
230,194

507
229,266
495
(7,099)
223,169
88
223,257

507
212,318
4,114
745
(11,093)
14,545
221,136
88
221,224

507
212,318
4,114
745
(8,970)
14,476
223,190
88
223,278

65,388
17,423
581
83,392

69,675
13,112
4,908
87,695

66,853
10,933
15,865
93,651

56,826
10,094
19,707
86,627

52,553
10,467
17,256
80,276

346
5,481
22,842
9,411
2
38,082
121,474
344,270

4,621
21,485
8,372
14,878
49,356
137,051
367,245

6,634
28,412
11,795
14,750
61,591
155,242
378,499

8
9,528
25,126
9,638
16,456
60,756
147,383
368,607

13,382
18,735
8,449
15,934
56,500
136,776
360,054

Equity and liabilities

Capital and reserve attributable to
shareholders of the Company
Capital stock
Share premium
Share Warrants
Share options
Cash flow hedge
Retained earnings
Minority interests
Total equity
Non-current liabilities
Long-term debt
Deferred income tax
Other payables
Current liabilities
Accounts payable to related companies
Current portion of long-term debt
Trade payables
Other payables
Bank loans
Total liabilities
Total equity and liabilities

2009
30 Jun

2010
30 Sep

31 Dec

31 Mar

30 Jun

30 Sep

31 Dec

118,775
574
26,962
110,899
257,210

116,583
266
26,637
116,629
260,115

111,927
422
26,586
125,802
264,737

110,329
601
26,583
133,087
270,600

108,896
600
26,490
137,223
273,209

115,526
386
27,303
143,120
286,335

825
8,462
37,022
17,430
24,818
1,191
89,748
346,958

579
7,817
34,103
14,410
19,295
2,255
78,459
338,574

643
15,031
32,033
12,445
20,589
5,696
86,437
351,174

819
10,324
31,583
12,409
14,809
5,322
75,266
345,866

544
9,216
27,977
15,120
14,201
10,545
77,603
350,812

543
10,420
29,333
12,493
12,803
13,236
78,828
365,163

507
212,318
4,114
819
(3,854)
10,646
224,550
88
224,638

507
212,318
4,114
1,062
(574)
11,253
228,680
88
228,768

507
212,318
2,050
914
18,628
234,417
88
234,505

507
212,318
2,050
959
16,704
232,538
88
232,626

507
212,318
2,050
991
11,396
227,262
88
227,350

507
212,318
2,050
1,026
19,265
235,166
516
235,682

48,355
10,044
11,455
69,854

44,105
10,349
8,432
62,886

48,319
13,414
10,140
71,873

43,890
13,256
10,144
67,290

60,449
14,053
10,740
85,242

62,224
13,786
10,640
86,650

94
15,560
16,797
6,784
13,231
52,466
122,320
346,958

17,293
13,726
6,954
8,947
46,920
109,806
338,574

8,635
20,262
6,614
9,285
44,796
116,669
351,174

11,728
18,137
5,419
10,666
45,950
113,240
345,866

3,193
16,500
6,555
11,972
38,220
123,462
350,812

3,991
21,367
6,973
10,500
42,831
129,481
365,163

CAMPOSOL HOLDING PLC

CONSOLIDATED STATEMENT OF CASH FLOWS
(USD in thousands)

1Q

2008
3Q

2Q

4Q

Cash flow from operating activities

Collections
Payment to suppliers and employees
Interest paid
Other collections
Income tax paid
Net cash provided by (used in) operating activities

43,022
(46,503)
(2,904)
10,190
(565)
3,240

31,739
(33,425)
(2,386)
(12,883)
(255)
(17,210)

45,470
(49,433)
(2,869)
6,315
(17)
(534)

38,021
(44,947)
(3,133)
5,152
(1,292)
(6,199)

(13,035)
(208)

(3,254)
(501)
109
(3,646)

(10,776)
(605)
951
(10,430)

(2,649)
(432)
140
1,416
(951)
(109)
(2,585)

(128)
65,840
650
(320)
(597)
(60,649)
4,796

1,706
(7,000)
(320)
(442)
320
597
(1,401)
(6,540)

(6,168)
27,262
21,094

(15,324)
21,094
5,770

Cash flow from investing activities

Purchases of property, plant and equipment
Purchases of intangibles
Proceeds from sale of property, plant and equipment
Interest received on bank deposits
Payments of permanent plantations
Other assets
Net cash (used in) provided by investing activities

(13,243)

Cash flow from financial activities

Bank loans and overdrafts
Repayment of borrowings
Payment to Camposol AS shareholders
Debt termination fee
Capital contribution, net of transaction cost
Capital reduction
Proceeds from related companies
Proceeds from long-term debt, net
Net cash (used in) provided by financial activities

(1,476)
(63,267)

(55,587)

14,876
(2,573)
11,639
23,942

Net (decrease) increase in cash and cash equivalents during the period
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

(65,590)
89,766
24,176

3,086
24,176
27,262

9,156

Conciliation
Operating activities:
Profit before income tax
More (less) adjustments to profit net:
Depreciation
Amortization
Provision for doubtful accounts receivable
Provision for obsolescence of inventories
Write down of inventories
Biological assets
Adjustment of retain earnings
Fixed assets adjustement
Adjustment of intangibles
Goodwill adjustment
Income tax expense

4,911

(4,357)

(9,879)

10,206

1,219
277

2,181
277
(1,289)
(2,123)
(1,511)

332
351
4,372
2,556
(1,666)
508

1,378
303
3,435
(12,264)
(2,556)
1,666
1,003

(7,895)
2,123

Embedded derivative
Net cost of fixed assets sold
Interest expenses
Change in derivative financial instrument
Investment recovery
Income tax and workers' profit sharing
Stock options expense
Loss of investments in associates
Write-off of accounts receivables
Translation adjustment
Increase (decrease) on the operations flow for net variations
Account payables to related companies
Trade receivables
Other receivables
Inventories
Prepaid expenses
Trade payables
Other payables
Net cash provided by (used in) operating activities

379
(6,746)
412
-

(251)
11,499
7,004
(4,327)
(601)
5,329
(10,093)
3,240
-

(335)
552
6,421
(67)
438
239
136

19
426
7,211
(2,179)
256
1,796

(425)
(922)
(1,416)
(5,275)
67
948
66
79
(1,315)
(1,501)

(346)
(5,338)
(12,671)
(9,809)
96
(1,357)
11,653
(17,210)

597
486
5,418
(14,145)
677
6,927
(4,597)
(534)

9,175
3,761
(3,053)
1,015
(3,286)
(7,288)
(6,199)

TOTAL

Q1

2009
Q3

Q2

Q4

TOTAL

1Q

2010
3Q

2Q

4Q

158,252
(174,308)
(11,292)
8,774
(2,129)
(20,703)

36,572
(34,515)
(2,770)
1,660
496
1,443

28,552
(26,166)
(2,606)
2,116
(806)
1,090

31,523
(25,801)
(2,465)
5,759
(193)
8,823

31,416
(27,887)
(2,438)
3,804
(538)
4,357

128,063
(114,369)
(10,279)
13,339
(1,041)
15,713

31,611
(30,773)
(2,485)
2,253
(214)
392

27,944
(28,191)
(1,999)
4,039
(201)
1,592

31,823
(33,172)
(2,357)
4,286
(194)
386

(29,714)
(1,746)
140
1,416
(29,904)

(1,049)
(29)
16
5

(434)
(35)
77
1
(391)

(1,054)
(18)
111
3
(958)

(1,337)
(126)
4,282
(9)
2,810

(3,874)
(208)
4,486
404

(697)
(114)

(712)
(176)
(888)

(4,971)
(101)
5,147
75

14,978
(7,000)
(320)
21,003
(62,050)
(33,389)

(522)

(419)
(941)

(2,703)
(2,020)
(4,723)

(4,284)
(2,517)
(6,801)

718
(4,444)
(3,726)

(6,791)
(9,400)
(16,191)

(1,336)
45

1,306
(3,682)
6,895
4,519

(1,472)
3,702
2,230

(83,996)
89,766
5,770

(555)
5,770
5,215

(4,024)
5,215
1,191

1,064
1,191
2,255

3,441
2,255
5,696

(74)
5,770
5,696

(374)
5,696
5,322

5,223
5,322
10,545

2,691
10,545
13,236

(1,057)

881

(42)

5,110
1,208
3,435
(17,076)
-

1,511
341

(5,968)

(4,980)
1,506
341
1,955
-

290
1,495
343
86
(5,086)
-

8,144
1,656
177
2,542
2,500
1,493
(16,386)
-

3,412
6,168
1,202
2,628
2,500
1,493
(25,485)
-

(811)

1,381

(2,078)

(4,512)

7,601

1,569
117
126
(2,578)

1,602
273
170
315
(628)
(3,028)
-

1,563
194
(8)
410
(776)
(7,101)
211
-

(362)
56
(1,416)
1,611
(381)
561
79
(1,315)
431

15,822
3,512
(31,334)
1,187
7,613
(10,325)
(20,703)
-

371
6
(5)
(308)

(29)

370
49
(1)
(743)
(2,774)
74
(300)
9

(195)
(3)
(477)
(360)
243
308
(11)

(741)
433
10,636
(83)
6,282
(61)
(156)
(50)

293
10,627
(1,611)
3,642
256
(148)
(81)

3,662
(2,144)
11,564
(242)
(7,726)
(42)
1,443

(2,658)
(1,209)
9,451
15
(1,938)
1,923
1,090

5,496
4,068
2,919
246
(3,071)
2,532
8,823

(3,838)
865
(429)
677
7,863
(17,167)
4,357

2,662
1,580
23,505
696
(4,872)
(12,754)
15,713

494

22
2,322

(82)
45
(178)
83

5,780
36
323
(176)
(2,124)
(2,815)
392
-

(955)
7,968
1,321
32
(134)

(1,640)
1,759
(367)
35
214
80

573
732
3,919
275
(1,672)
(4,659)
1,592

1,382
(144)
(990)
4,901
(6,938)
386

TOTAL

91,378
(92,136)
(6,841)
10,578
(609)
2,370

(6,380)
(391)
5,147
(1,624)

1,215
(3,682)
9,261
6,794
7,540
5,696
13,236
13,236

1,011
4,734
584
162
851
(1,404)
(12,707)
211
-

(2,573)
12,049
872
112
36
29

7,735
624
3,252
99
1,105
(14,412)
2,370
-

CAMPOSOL HOLDING PLC

SEGMENT INFORMATION
(USD in thousands)
Revenues
Cost of goods sold
Gross profit
Volumes produced (net MT)
Volumes sold (net MT)
Weighted Average prices (US$ /Kg.)

2008
Asparagus Avocado Artichoke Pepper
Mango
62,073
(55,474)
6,599

31,611
(11,111)
20,500

21,893
17,877
3.47

19,784
19,734
1.60

16,963
(15,964)
999
3,585
4,771
3.56

13,255
(12,724)
531
7,450
6,890
1.92

8,621
(6,760)
1,861
8,641
8,783
0.98

Shrimp
5,367
(4,596)
771
536
748
7.18

Other
2,815
(3,733)
(918)
-

TOTAL Asparagus Avocado Artichoke Pepper

140,705
(110,362)
30,343
61,889
58,803

58,752
(53,044)
5,708

16,347
(6,903)
9,444

5,898
(5,792)
106

18,151
19,743
2.98

9,463
10,047
1.63

1,477
4.00

17,999
(15,088)
2,911
8,121
7,598
2.37

2009
Mango

Grapes

Shrimp

8,463
(5,320)
3,143

1,971
(864)
1,107

8,333
(6,788)
1,545

6,256
5,904
1.43

1,103
1,006
1.96

1,354
1,349
6.18

Other
5,011
(4,809)
202
-

TOTAL Asparagus
122,773
(98,608)
24,165

35,879
(28,773)
7,106

44,448
47,124

10,659
11,919
3.01

As of 30 Sep 2010
Avocado Artichoke Pepper
Mango
Grapes
19,718
(7,493)
12,225
12,032
12,050
1.64

45
(72)
(27)
16
2.81

7,818
(5,278)
2,540

12,980
(7,027)
5,953

384
(193)
191

1,931
3,078
2.54

9,461
9,910
1.31

85
210
1.83

Shrimp
3,494
(3,216)
278
467
479
7.29

Other
3,163
(4,129)
(966)
-

TOTAL
83,481
(56,181)
27,300
34,635
37,662