Naturex Q1 Rev Climbs 13% On Strong Nutrition, Health Momentum

Naturex’s first-quarter revenue rose 13.2%, or 14.4% at constant exchange rates, thanks to strong momentum in its nutrition and health divisions.

The Avignon, France specialty plant-based natural ingredients company said its quarterly consolidated revenue rose to €83.2 million from €73.5 million a year earlier. Results included organic growth of 12.5% and 1.9% from recent acquisitions that consisted mainly of contributions by Valentine (India) as from April 1, 2012 and Decas Botanical Synergies (U.S.) as from Sept. 19, 2012.

By segment, the food and beverage division had revenue of €46.7 million, down 2.3%, or down 1.1% at constant exchange rates, reflecting its significant exposure to the tough European markets and also the slowdown of the distribution activity in Australia.

Nutrition and health grew 33.7% at constant exchange rates to reach revenue of €29.2 million for the quarter, boosted in particular by strong performance of its NATlife range of extracts.

Personal care, still in an initial development phase, posted first-quarter revenue of €1.5 million, up 14.4% at constant exchange rates. The group said it's focused on transforming its range of natural ingredients into a more innovative offering, notably through a selection of premium African plants with potential for a variety of cosmetics market applications.

Toll manufacturing revenue increased in the quarter by a multiple of nearly 2.5 to €5.8 million.

All geographic regions posted growth despite disparities between markets. Europe/Africa had first-quarter revenue of €40.3 million, up 10.3% at constant exchange rates from a year earlier, driven in particular by growing momentum for toll manufacturing as well as good resilience of selected countries.

The Americas, with €33.4 million in first-quarter revenue, were bolstered both by the success in North America of the NATlife range and continuing steady gains in Latin America.

The Asia/Pacific region posted moderate growth of 6.2% at constant exchange rates to €9.5 million for the quarter, although it faced a slowdown for the distribution of ingredients in Australia caused by local food industry developments specific to this market.

Countries in Asia accounted for nearly 50% of the quarter's sales. Emerging markets accounted for 15.6% of the quarter's sales of the group.

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