Ladies and Gentlemen,
Dear Shareholders,
The forward momentum of 2011 continued under the combined effects of a reinforced structure, an expanded product range and commercial synergies. These factors contributed to the performances of the three markets (Food & Beverage, Nutrition & Health and Personal Care) and all geographical regions with a noteworthy acceleration of growth in the emerging countries.
In parallel, the successful capital increase launched on 4 October 2011 raised €48.8 million. Its primary objective was to provide financing for a new phase of external growth within a strategy for development combining both sustained organic growth and acquisitions with potential for promising synergies.
Following a first acquisition completed at the end of October 2011 (Burgundy in France and Spain), NATUREX has continued its program of external growth in the first half of 2012, by integrating in its perimeter two additional companies, PEKTOWIN (Poland) and VALENTINE (India).
The 2012 first half was devoted to pursuing our growth strategy and integrating the acquired companies, including a strengthened industrial base, an enriched technical and scientific expertise, a high value-added differentiating offer and a dynamic global network.
The operating performance achieved over this first half of 2012 confirms the Group's ability to generate quality and profitable growth despite a difficult economic backdrop, especially in Europe
We acquired on 19th September 2012, DECAS Botanical Synergies, the global leader in Cranberry extracts and powders for nutraceutical and pharmaceutical industries.
This acquisition, the fourth one carried out by NATUREX since the capital increase in October 2011, fits with the Group's strategy to accelerate its development in dynamic markets and expand its range of innovative ingredients with high value-added, bearers of synergies.
We are moving through the 2nd half of the period with confidence and we rely on our innovation capacity and the quality of our sales network in order to continue our growth strategy, creating value for our customers and investors.
Thank you for your support and your loyalty,
Thierry LAMBERT
President and CEO