Naturex Sales Rise 16.7% in First 9 Months
The Group's positive momentum for the first nine months of 2012 reflects not only good performances in developed countries despite pressure on consumer spending in Europe but also strong contributions from emerging countries.
6 Nov 2012 --- Naturex, the global leader in speciality plant-based natural ingredients, has announced its consolidated revenue for the first nine months of fiscal 2012.
Consolidated revenue for the first nine months of 2012 amounted to €223.1 million, up 16.7% from last year's same period.
At constant exchange rates, revenue grew 11.9%, bolstered by strong gains of selected currencies in the period and notably the US dollar.
The Group's positive momentum for the first nine months of 2012 reflects not only good performances in developed countries despite pressure on consumer spending in Europe but also strong contributions from emerging countries.
In light of Naturex's use of the full consolidation method, it is difficult to break out contributions attributable to the growth of acquisitions, in particular for Burgundy, now consolidated for twelve months.
Growth in Q3 2012 accelerated with revenue of €75.9 million, up 20.2% from last year's 3rd quarter and 13.4% at constant exchange rates.
Growth of the three markets is driven by an innovative offering of ingredients and extracts with a high technological content making it possible to propose customised solutions increasingly based on natural concepts as sources of differentiation.
• The Food & Beverage division had revenue of €142.8 million, up 11.9% (8.4% at constant exchange rates), with accelerating sales in the US and emerging countries that offset weaker consumer spending in Europe and the slowdown for the distribution of ingredients of the Australian subsidiary;
• Nutrition & Health marked further gains, mainly in the US market, with revenue of €66.5 million, up 26.1% on the strength of the solid scientific positioning of the NATactiv® and NATlife ranges;
• Personal Care had revenue of €3.6 million, representing very strong growth from the success of custom-designed extracts for cosmetics applications;
• Miscellaneous and toll extraction had revenue of €10.2 million, of 17.1%, confirming the accelerating momentum expected for Q3 2012 in relation to the first two quarters of the period.
With commercial operations strategically positioned in world markets, Naturex is able to support the international development of its multinational customer base and develop local and regional relations of proximity to leverage the strong growth potential of emerging countries.
• The Europe / Africa region had revenue growth of 8.1% despite a drag on consumer spending from difficult economic conditions;
• The Americas region had excellent growth with very strong continuing expansion in North America and positive momentum in Latin America.
• The Asia / Pacific region delivered excellent gains with growing contributions from Asia to reach 55% of the sales for this region on growth of 29.5% for the period. The distribution of ingredients of the Australian subsidiary experience a marginal slowdown, affected by the trend of offshoring in the country's manufacturing sector and more particularly in the food industry.
Emerging markets in Eastern Europe, Asia, Latin America, Africa and the Middle East account for a significant 16.9% share of total Group revenue, up from 14.1% one year earlier, with 40.5% year-on-year growth for the first nine months of 2012.
"These performances for the first nine months of 2012 confirm the relevance of Naturex's positioning both in mature markets marked by more selective growth trends and the faster-growing emerging countries" commented Naturex's Chairman-CEO, Thierry Lambert.
"Our diversified and innovative offering, high-level technical and scientific know-how combined with our international commercial network are key drivers for sustainable high value-added growth to provide our customers with customized solutions increasingly sensitive to issues of well-being and naturalness".
