Continued strong revenue growth in the first half of the year: up 27.3% at constant USD rates
In EUR millions
At current USD rates
At constant USD rates
Average USD exchange rate
Naturex had an excellent second quarter with revenues up 32.3% at constant USD rates (up 26.1% at current USD rates) which confirms the solid performance posted in the first quarter.
Revenues for the first half of the year totaled EUR 41.8 million, up 27.3% at constant USD rates (up 20.5% at current USD rates). This rapid development is due to both the broadening of Naturex’s scope, with the acquisitions of Hammer Pharma in January and HP Botanicals in April, and sustained organic growth (+13.2% at constant USD rates for the Group’s former scope).
In line with its strategy, Naturex is continuing its policies of sustained organic growth and acquisitions alongside each other and has set a revenue target of EUR 100 million in 2008.
Due diligence is currently underway for the planned acquisition of a US business generating approximately USD 10 million in revenues. Moreover, new projects are being studied both in Europe and North America.
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Naturexmanufactures and sells 100% natural ingredients for the food, flavor and nutraceutical and cosmetic industries. Based in Avignon, France, the Group has an international reach, with over 90% of its sales realized in 30 different countries outside France, 70% of which are generated on the US market. Naturex has facilities in France, Morocco, in the United States and Italy, a subsidiary in the United Kingdom and a representative office in Singapore.
NATUREX has been listed since October 1996 - Eurolist by Euronext Paris - Segment B ISIN Code: FR0000054694 - Reuters: NATU.LN Bloomberg: NTRX