Numico Sees Continued Strong Top Line Performance in Q3
In the first nine months, reported sales increased 9.6% to € 2,127 mln. This growth consisted of 12.5% organic growth which was driven by 9.2% in volume and 3.3% in price/mix.
08/11/07 Numico has reported that sales increased 10.1% to € 723 mln in the third quarter of 2007. This growth consisted of 12.7% organic growth which was driven by 9.2% in volume and 3.5% in price/mix. Change in business scope and currency translation effects negatively impacted reported growth by (1.9)% and (0.7)%, respectively.
In the first nine months, reported sales increased 9.6% to € 2,127 mln. This growth consisted of 12.5% organic growth which was driven by 9.2% in volume and 3.3% in price/mix. Change in business scope and currency translation effects negatively impacted reported growth by (1.9)% and (1.0)%, respectively.
Numico intends to offset the negative impact of higher raw material prices through price increases and various cost savings initiatives. Price increases in Baby Food are being successfully implemented across most regions. The implementation of various cost savings initiatives is also on track. Numico remains confident that the intended price increases and savings in the variable cost base will be able to offset the negative impact of higher raw material prices in 2007.
Baby Food sales increased organically by 12.2% in the third quarter of 2007. This growth was driven by 8.2% in volume and 4.0% in price/mix.
In the first nine months, Baby Food sales increased organically by 11.7% to € 1,536 mln. Growth in Western Europe accelerated from 3% in 2006 to 4% in the first nine months of 2007. This performance was driven by continued high growth in the UK and Ireland and accelerating growth in Italy and Belgium, which was partly offset by continued underperformance in France. Asia Pacific and the Rest of the World grew by 16% and 24%, respectively, with particularly strong growth in Russia, Indonesia, Turkey and Vietnam.
Sales in Clinical Nutrition grew organically by 14.0% in the third quarter of 2007. This growth was driven by 11.4% in volume and 2.6% in price/mix.
In the first nine months of 2007, sales in Clinical Nutrition grew organically by 14.5% to € 583 mln. Growth was supported across all regions with growth in Northern Europe at 12%, Southern Europe at 15% and Rest of the World at 21%. This strong growth performance reflects the division's increased focus and enhanced business model as well as the complete recovery of the German market. Especially France, Brazil and most of the Eastern European countries delivered particularly strong performances.
Based on the strong potential of the markets in which Numico operates, the company reconfirms that it expects total sales to grow organically between 10 - 12% and the EBITA margin to improve between 10 and 20 bps in 2007. These targets are all based on constant scope of consolidation, constant exchange rates, excluding exceptionals and barring unforeseen circumstances.
