Naturex Posts Strong Half Year Results for First Six Months of 2011

Naturex announced its consolidated results for the 1st half year of 2011, achieving organic sales growth of 13.1% and a revenue increase of 14.1% to €127.9 million. This puts Naturex in line with its annual target of double-digit growth in sales, a goal that was announced in March 2011.

The company also saw an operation margin at 12.5% of its revenue and a consolidated gross margin in line with its revenue at €75.4 million, up 15.7% compared to the 1st half of 2010. The gross margin rate accounted for 59% of revenue and has improved by 0.8 point compared to the 1st half of 2010. Operating income, up 11.7%, stands at €16 million compared to €14.3 million in the first half of 2010. As to net income, group share is up 28.0%, at €9.7 million, after taking €4.4 million in tax expense into account; in the first half of 2010, it was €7.6 million, after tax expense of €3.6 million. As such, net profitability represents 7.6% of revenue. Also, shareholders' equity stands at €175.9 million as of June 30, 2011 compared to €168.8 million at December 31, 2010.

"These excellent half-year results confirm the solidity of our development model based on a high-performance industrial tool, proven scientific and technical know-how, a perfectly targeted high value-added offering, a dynamic sales network and geographical positioning worldwide", declared Jacques Dikansky, CEO and founder of Naturex. "The perspectives for the second half of the year are positive despite macroeconomic uncertainties. We intend to continue our organic growth and our search for targeted acquisitions that provide us with synergies. Backed with our performance over the 1st half of the year and our ability to develop new innovative projects, we confirm the annual target for growth in revenue and profitability that were announced for 2011."

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