Chiquita Brands has indicated that fourth quarter and full year results for 2012 are down on 2011 due to a poorer performance from its salad business, poorer currency exchange and on-off charges.
The banana group said today (28 January) that 2012 net sales totalled US$3.1bn, about level with 2011’s results. However, in its preliminary results, the group predicted a full-year operating loss of $236-281m, compared to an operating income of $34m in 2011.
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Stripping out the impact of one-offs, adjusted EBITDA is expected to total $64m – $74m. This compares to full year 2011 net sales of $3.1 billion
Likewise, fourth-quarter profitability is expected to dip. Chiquita said it anticipates a fourth-quarter operating loss to be between $188-$233m. During the period, the group will book a goodwill and trademark imparement charge of between $170m and $205m. Last year’s fourht-quarter operating loss totalled $12m.
Fourth quarter sales were 2.2% up on last year, the group added.
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