Naturex Says Five-Year Plan Bearing Fruit as Organic Revenues Up 5.3 Percent in First Half

01 Aug 2016 --- Naturex has reported that its revenues were up over five percent in the first half to €208m ($232m), as it says it its benefiting from its focus on its key ingredient categories.

Organic growth in the second quarter was up 4.4 percent at the specialist plant-based natural ingredients company, helped by reducing its product lines and a product mix which is focused on higher value offering.

Organic Revenues were up 5.3 percent in the first half.

Under the leadership of chief executive Olivier Rigaud, Naturex has introduced a five-year plan, centred on ambitious growth targets.

The five-year plan was introduced in 2015 to offset falling revenues.

The plan, dubbed BRIGHT2020, runs across a raft of areas including sustainability; people & culture; consumer focus; innovation and science; developing markets.

It also outlined a number of financial targets.

"The solid organic growth of the 2016 first half confirms the positive momentum generated by the action plans adopted in this first year of the Bright2020 strategic plan’s implementation,” said Rigaud.

“This performance demonstrates our commitment to pursuing the rationalization of our product portfolio and to consolidate our activity around our strategic lines of action."

“With all our teams throughout the world, we are focusing on continuing to build a solid, sustainable and profitable model for growth, in line with the objectives of Bright2020."

"These efforts, combined with our rigorous and disciplined approach in streamlining and energizing our operating model, will have a significant positive effect at the level of the 2016 first half's current operating EBITDA margin, in line with analyst consensus."

Across its My Natural Selfcare division, revenues came in at €71.1m ($79m) in the first half, up 9.6 percent.

Across Other Activities revenues were €29.1 million ($32m), down 16.8 percent from the 2015 first half, reflecting primarily the discontinuation of the krill toll manufacturing activity that over the first two quarters of the prior year generated €5.2 million ($5.8m) in sales.