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Naturex Reports Financial Year 2010
Posted: April 5, 2011
Naturex (Avignon, France) announced its consolidated results for 2010. The company saw revenue of €226.3 million in 2010, an increase of 21.6% over 2009 and representing an additional €40.2 million of revenue. The company’s markets—food & beverage, nutrition & health and personal care—reported high growth rates, as did the company’s geographic regions of Europe-Africa, the Americas and Asia-Pacific.
Also for 2010, operating income doubled, coming in at €27.3 million, which compares to €13.1 million in 2009 (and €16.8 million in proforma in 2009). Additionally, consolidated net income nearly tripled, standing at €14.8 million after taking tax of €6.2 million into account; in 2009, it was €5.2 million, after €1.9 million in taxes.
Reflecting these increases, the integration of the ingredients division of Natraceutical, which was acquired in December 2009, was of distinct significance for Naturex in 2010. This acquisition allowed the company to double in size and increase its presence as a worldwide leader in specialty plant-based natural ingredients.
In light of the trends for natural and healthy products, which maintain a strong presence in the mature markets of North America and Europe and are also gaining ground in the developing markets of Asia, Latin American and Eastern Europe, the company expects sustained growth over the long term. 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 12–13% of revenue.