Naturex Revenues Fueled by Favorable Trends

Consolidated net income was nearly tripled, standing at 14.8 million euros, after taking tax of 6.2 million euros into account; in 2009, it was 5.2 million euros, after 1.9 million euros tax.

4/1/2011 --- Naturex, the global leader in specialty plant-based natural ingredients has announced its annual consolidated results for 2010, as approved by the Board of Directors Meeting of 30 March 2011:

Annual consolidated revenue for 2010 amounted to €226.3 million, which is up +21.6% compared to proforma 2009, as such representing 40.2 million euros of additional revenue over one year. In constant currencies, the increase in yearly sales for 2010 is 16.2% has exceeded the growth target that had already been revised upwards in September 2010 (10-15%).

The three markets (Food & Beverage, Nutrition & Health and Personal Care), as well as the three geographical regions (Europe-Africa, Americas and Asia-Pacific), benefitted from highly favourable trends and recorded high growth rates.

Operating income was multiplied by more than two and stands at 27.3 million euros compared to 13.1 million euros in 2009 (16.8 million euros in proforma 2009). Operating margin, compared to 2009 proforma data, grew very sharply, faster than expected, and reached 12.1% of revenue.

Consolidated net income was nearly tripled, standing at 14.8 million euros, after taking tax of 6.2 million euros into account; in 2009, it was 5.2 million euros, after 1.9 million euros tax.
 
Shareholders' equity at 31 December 2010 was 168.8 million euros compared to 144.8 million euros at 31 December 2009.

Financial debt is well under control, with a net financial debt ratio of 60.5%, for net financial debt of 102.1 million euros at 31 December 2010.
 
The integration of the Ingredients Division of Natraceutical acquired in December 2009, was the primary challenge during FY 2010 for Naturex.

This ambitious operation allowed the Group to double in size and to impose itself as the worldwide leader in specialty plant-based natural ingredients.

Backed by the historical know-how of Naturex in terms of integrating companies, this new unified unit has generated, right in its first year, very high organic growth, based on complementarity in terms of product ranges as well as geographical locations and industrial tools.

“In light of the trends for natural and healthy products, which are still favoured and sustained in North America and in Europe, as well as very sharp acceleration in demand from the emerging countries (Asia, Latin America and Eastern Europe) for these specialised products, sustained growth is expected over the long term. Naturex is well positioned to continue to outperform the market, thanks to its strong sourcing and innovation capacities, its high-performance industrial tool and the power of its worldwide sales network.”

In this context, Naturex has set a double-digit target for 2011 for its sales on a constant currency basis and an operating margin between 12 and 13% of revenue.
 
"Growth was once again very strong in 2010, in a year marked by a major integration. This is a highly successful year during which we had record performance and enjoyed increased visibility, thanks to our new size" declares Jacques Dikansky, President, CEO and founder of Naturex.

"These excellent results confirm the pertinence of our development model as well as the value of our international positioning, thanks to which we are ready to seize all of the strategic opportunities that may come along our way. With the assertion of a very promising beginning for the year, we are confident in the Group's ability in 2011 to generate another year of growth in revenue and in the results.”