Naturex Reports Strong Rise in H1 Revenues

On a comparable basis, organic growth for the half year stands at +13.1%, in line perfectly with the annual target of double-digit growth in sales that was announced in March 2011.

Jul 27 2011 --- Naturex has reported that for the first half of fiscal year 2011, revenues amounted to €127.9 million, up +14.1% compared to the 1st half of the previous period.

On a comparable basis, organic growth for the half year stands at +13.1%, in line perfectly with the annual target of double-digit growth in sales that was announced in March 2011.

Activity in Q2 2011 is well-oriented despite the less favourable exchange rate effects over the period and an exceptionally high comparison base in 2010.

On a comparable basis, growth in the second quarter is 9.3%.

Activity in the half-year is showing sustained growth in the Food & Beverage and Nutrition & Health markets, driven in particular by the extension of the product range and the move towards perfectly targeted innovative technical solutions.
•  The Food & Beverage activity had very dynamic growth of +17.6% (+13.8% on a comparable basis), with €78.4 million in revenue in a particularly active market that benefited from the rapidly increasing demand worldwide for natural-origin products;
•  The Nutrition & Health activity generated €40.4 million in revenue, up +5.5% (+8.9% on a comparable basis) thanks to the development of specific health effect ingredients, designed to be incorporated into a multitude of applications (dietary supplements, beverages, etc.);
•  The Personal Care activity, still highly promising, recorded not very significant figures for the half year, in light of a very low base.
The three geographical regions have performed very well thanks to the dynamism of the sales network.
During the first half of 2011, Naturex opened three subsidiaries in Korea, Mexico and Canada, and now has 19 sales locations around the world.
•  The mature markets in Europe and in North America are still the main engines for growth and have recorded very good growth;
•  The Asia/Pacific region is on track over the half-year thanks to the sharp growth in the activity in Asia, despite the inclement weather in Australia which significantly affected sales in Q1 in the Pacific;
•  The emerging markets of Eastern Europe, Asia and Latin America are attractive relays where the Group intends to continue its development.

"The strong organic growth carried out over this 1st half of 2011 confirms the technical know-how and the commercial dynamism of Naturex on markets that are sustainable promising", declared Jacques Dikansky, CEO and founder of Naturex.

"Backed with this performance and our capacity to develop new projects with high value-added, we are confident in our ability to achieve another year of strong growth in revenue and in profitability over 2011, in accordance with the targets announced."