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Naturex Reports First Nine Months, Q3 2011 Financials
Posted: October 27, 2011
Naturex reported its financial results for the first nine months of 2011, recording a turnover of €191.2 million, an increase of 12.7% in constant currency over 2010’s results. Additionally, for the third quarter of 2011, the company reported a turnover of €63.2 million, up 12% in constant currency from 2010’s third quarter.
The company’s food and beverage division reached a turnover of €117.2 million, a 12.3% increase in constant currency over last year’s €102.5 million; and the nutrition and health division’s 2011 turnover grew 13.4% in constant currency over 2010, with turnover of €61.5 million versus €56.9 million, respectively. The personal care division, however, saw a loss of 1.8% in constant currency—€1.8 million in 2011 versus €1.9 million in 2010.
The company’s global commercial relays favored proximity with local and regional customers, leading to a strengthening of Naturex’s positions in all regions, both in developed and emerging markets. The Europe/Africa region saw a turnover of €101.4, up 10.5% in constant currency; the Americas region grew to €68.2 million, up 16.7% in constant currency; and in the Asia/Oceania region, a 10.2% increase in constant currency brought the turnover total to €21.5 for the first nine months of 2011.
The mature markets of Europe and North America offered solid performances in a difficult economic climate, while the Asia/Oceania zone experienced good progression in Australia compared with the previous quarters, and an acceleration of sales in Asia. Also, the emerging markets of Eastern Europe, Asia, Latin America, Africa and the Middle East continued their sustained growth and represented a significant market share of 14.1% of the sales of the company.
“In a troubled macroeconomic context, we have maintained strong organic growth in our main activities and all our geographical zones,” said Jacques Dikansky, CEO and founder of Naturex. “The success of our capital increase will enable us to continue our expansion, by concentrating our external growth plans in order to reinforce our industrial capacities and our commercial positioning with the aim of orienting our customers to an ever wider and more personalized product range.”