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Ladies and Gentlemen,
Dear Shareholder,
2006 proved an excellent year for Naturex and one which once again
demonstrated our ability to combine sustained organic growth with targeted,
value creation acquisitions. In fact, the integration of Pure World which the
Group acquired in July 2005 was successfully completed six months ahead of
our initial schedule.
Our strong development and growth in income means that, for the third year in
a row, Naturex will be proposing a dividend of € 0.10 per share at the Annual
General Meeting to be held on June 29, 2007.
As a Group, we fully intend to continue devoting our energies to our
development, both internal and external, in order to reinforce our position as one
of the very top players on the market of plant extracts and natural ingredients.
2007 looks to be another very promising year for Naturex given the operations
already underway. The acquisition of the Italian company, Hammer Pharma, at
the start of the year has broadened our scope which currently stands at € 73.8
million proforma. It also opens up new avenues for our development such as the
pharmaceuticals industry. Moreover, in light of the regulatory changes
impacting the European nutraceuticals industry, it strengthens our ranking as a
quality supplier. Lastly, the operation will mean that we will also benefit from
the company’s strong market positions in Germany and Italy.
At the same time, Naturex has consolidated its commercial presence overseas with
the setting up of a subsidiary in Oxford in the United Kingdom, an important
market in our industry, and the acquisition of a minority stake in Sanavie, a Swissbased
company that distributes our products in Russia and Ukraine.
Finally, the Group has signed a draft agreement for the acquisition of a North
American company which produces natural extracts and which generated
almost USD 10 million in revenues in 2006.
With all this mind, 2007 should once again confirm Naturex’s rating as a growth
stock on segment B of Eurolist where it has been listed since January 18, 2007.
Jacques Dikansky
Chairman and Chief Executive Officer
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