Naturex Sustains Impressive Growth in Line With Its BRIGHT2020 Strategic Plan

02 Dec 2015 --- French ingredients firm Naturex continued commercial efforts in the 2015 third quarter to recapture growth across all businesses and regions by focusing on two major areas: optimising the product portfolio and reinforcing its positioning in the value added market segments defined by the BRIGHT2020 plan.

Revenue for the third quarter rose in consequence to €94.3 million, up 17.9% from the 2014 third quarter. This included 6.1% from organic growth and 11.8% from the exchange rate effect reflecting the strong contribution of sales in US dollars.

On that basis, sales for the first nine months of 2015 reached €297.0 million, with strong growth at current exchange rates of 24.6%. This performance included 5.0% from organic growth, 6.4% from the consolidation scope effect1 and 13.2% from the foreign exchange effect.

Consolidated operating profit after income from equity-accounted investees amounted to €6.9 million for the 2015 third quarter compared to €3.5 million for the same quarter in 2014. This includes a €0.9 million loss from equity-accounted investees from the joint venture with Aker BioMarine, down from the €2.8 million loss generated in the 2015 first half linked to the commissioning of krill extraction operations at the Houston site in a period of difficult market conditions for Omega-3 based products. For the first nine months of 2015, consolidated operating profit after income from equity-accounted investees totalled €14.1 million compared to €16.8 million one year earlier.

“The good results of the 2015 third quarter highlight the strong commitment by all Naturex teams to the priorities set by the "Conquest, Cash & People" plan for achieving a better operating and financial discipline. This new commercial momentum for quality growth and our continuing efforts to actively manage costs have strengthened our confidence in our ability to successfully complete this first step at the end of 2015 towards solid and lasting growth to gradually improve our operating profitability," commented Olivier Rigaud, Chief Executive Officer and Director of Naturex.

"Efforts in 2016 will also be devoted to implementing our Bright2020 plan with particular focus on the "Execution & Simplification" pillar, a critical prerequisite for activating the key levers necessary to achieve our five-year objectives," he said.