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The first quarter results of all of Nutreco's business segments are higher than the performance in the same period last year (Photo: Nutreco N.V.)
COMPANY OF THE WEEK: Nutreco Reports High Volume Growth
(NETHERLANDS, 4/27/2012)
Animal nutrition and fish feed company Nutreco (Public, AMS:NUO) (Euronext: NUO) has reported strong results in the first-quarter 2012. The company’s revenues in the first quarter 2012 increased 11.3 percent compared to the same period last year.
Wout Dekker, Nutreco’s CEO, said: "After the excellent results in 2011, we entered 2012 with strong momentum. The first quarter results of all of our business segments are higher than the performance in the same period last year. In particular our Aquaculture division had a strong result due to high volume growth in salmon feed.
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| Wout Dekker CEO |
The integration of the acquisition of the Shihai fish and shrimp feed company in Southwest China is on track. So is our capital investment program in Norway to support further organic growth. The first expansion phase will be completed in 2012 and phase two will be ready before the 2013 peak season.
The results in all segments of our Animal Nutrition division improved compared to the first quarter of 2011. By achieving 97% of the shares in our Brazilian Fri-Ribe subsidiary we created the platform to take further steps in one of the most important agriculture and aquaculture growth markets in the world. Subsequently we acquired Bellman Nutriçao Animal, a large supplier and producer of feed specialties for ruminants in Brazil. Its activities, geographical presence and product proposition are fully in line with our strategy Ambition 2016.
Recently we launched our Sustainability Vision 2020 which lays out the practical steps for Nutreco on our path towards sustainability.
We have announced that Kofi Annan will be the keynote speaker at our AquaVision conference in June in Stavanger, Norway. This conference will continue to focus on the challenge of feeding nine billion people sustainably by 2050.
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| Nutreco achieved excellent operational results in the Aquaculture division driven by strong organic growth |
Lastly we have completed the divestment of Hendrix to ForFarmers, where it is a core activity with a leading market position and we are excited about our strategic partnership which is now underway.
Based on the business developments in the first quarter we expect to achieve a record first half year EBITA before exceptional items of approximately EUR 100 million, a significant improvement compared to the same period in 2011."
Outlook first half year 2012
The following developments are expected for the first half of 2012:
- Premix and Feed Specialties: operational result of the first half year slightly above the result of first half 2011, which was EUR 34.7 million;
- Fish Feed: a significantly higher operational result for the first half of 2012 than the EUR 35.4 million recorded in the first half of 2011;
- Animal Nutrition Canada: operational result slightly above the first half of last year, which was EUR 10.9 million;
Compound Feed Europe: operational result of the first half of 2012 above that of the first half 2011, which was EUR 6.2 million; and
- Meat and Other: operational result above last year (first half year 2011: EUR 8.0 million).
Operating result first half year 2012
Based on current trading conditions, Nutreco expects the EBITA before exceptional items for the first half of 2012 to be approximately EUR 100 million (2011: EUR 83.6 million). Due to seasonality of the business, the majority of Nutreco's result is generated in the second half of the year.
About Nutreco N.V.
Nutreco N.V. is a global leader in animal nutrition and fish feed and has its headquarters in the Netherlands..
It has about 120 production facilities in 30 countries and sales in 80 countries. Quality, innovation and sustainability are guiding principles embedded in the Nutreco culture from research and raw material procurement to product solutions and services for agriculture and aquaculture. Nutreco has eight research centers relating to animals feed ingredients and food.
The company was founded in 1994 after a Cinven-backed management buyout of the feed and nutrition division of BP.Nutreco has been listed on Euronext Amsterdam since 1997 and is a constituent of the AMX index. Nutreco’s subsidiary Skretting is the world leader in salmon feed and has a leading position in fish feed for other species.
It has business units on five continents producing fish feed for aquaculture for more than 25 countries. Nutreco had annual revenues of EUR 4.7 billion in 2011.
Source: Nutreco N.V.
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Margaret E.L. Stacey
Editor Companies and Products
editorial@fis.com
www.fis.com
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