Fresh Del Monte Produce Inc. (NYSE:FDP) Q4 2023 Earnings Call Transcript

Mohammad Abu-Ghazaleh: Well, as I mentioned, we are not selling for the sake of selling. We are selling lands that are idle or not suitable for our purposes. Secondly, facilities that have no use for us and we can operate. By the way, these facilities that we sold in Saudi Arabia, we released part of it for our operations. So, we did not get out of our operations, in this country. However, what we did, we deleveraged our exposure into assets and had a better cash flow as well as a better operating model, let’s say. So other assets that we sold in South America were assets that really did not fit like the plastic operation. It didn’t fit well in our today, let’s say, world. So that was a good opportunity to sell, and that’s why we did disposal with other lands or facilities as well were the right time to sell and to optimize our operations in certain countries. So, what we are doing really, we are optimizing and creating efficiencies and creating more opportunities.

Mitchell Pinheiro: Okay. Thank you for taking the questions.

Mohammad Abu-Ghazaleh: Thank you.

Operator: And with that, I’ll hand the call back to Mr. Mohammad Abu-Ghazaleh for closing remarks.

Mohammad Abu-Ghazaleh: Well, I would like to thank everyone attending the call today. Hopefully we can give you better news next time. I wish you a good day. Thank you.

Operator: Everyone that now concludes our call for today. Thank you all for joining. You may now disconnect.