| 30/06/2005 | 30/06/04* | ||
| In EUR millions | IFRS | IFRS | Change |
| Sales in constant dollars | 19.27 | 17.50 | +10.1% |
| Sales | 18.7 | 17.50 | +6.9% |
| Operating income | 2.22 | 2.48 | -10.5% |
| as a % of sales | 11.9% | 14.2% | |
| Consolidated net income | 1.60 | 1.34 | +19.4% |
| as a % of sales | 8.6% | 7.7% | |
| Group net income | 1.55 | 1.23 | +24.0% |
| *2004 figures restated in accordance with IFRS standards. | |||
Sharp increase in net income and groundwork for the integration of Pure World
Sales for the first half of the year for Naturex totaled EUR 18.7 million in line with Group targets.
Accordingly, growth stood at +10.1% in constant dollars, bolstered by the company's activities in both the Americas (+14.4%) and Europe (+17.0% excluding toll extraction) and as much in terms of food and flavor industry sales (+9.4%) as sales in nutraceutics (+15.9%).
Operating income came in at EUR 2.22 million, down 10.5% on the first half of 2004. Indeed, while Naturex has implemented the necessary structural measures to facilitate the smooth integration of Pure World, its activities have yet to be integrated within the Group's accounts.
Net income stood at EUR 1.55 million, representing 8.6% of sales and a 19.4% increase on H1 2004.
Q3 sales (EUR 16 million, i.e. +84.1% in constant dollars) are the first to reflect the Group's new dimension.
| In EUR millions | In current dollars | In constant dollars | ||||
| IFRS standards | 2005 | 2004 | Change | 2005 | 2004 | Change |
| First quarter | 8.3 | 7.7 | +8.2% | 8.7 | 7.7 | +12.5% |
| Second quarter | 10.4 | 9.8 | +5.7% | 10.6 | 9.8 | +8.3% |
| Third quarter* | 15.9 | 8.7 | +83.5% | 16.0 | 8.7 | +84.1% |
| 9 months | 34.6 | 26.2 | +32.3% | 35.3 | 26.2 | +34.7% |
| Dollar rate | 1.272 | 1.237 | 1.237 | 1.237 | ||
| *Pure World sales are integrated within the accounts as of July 1, 2005. | ||||||
Over the first nine months of the year, sales for Naturex totaled EUR 34.6 million, representing growth of nearly 35% in constant dollars.
Excluding the integration Pure World, organic growth for Naturex remained high at +9.1% in constant dollars.
Outlook for 2005
The acquisition of Pure World ranks Naturex as a global frontrunner in plant extraction and natural ingredients.
Given the integration of Pure World as of July 1, Naturex has revised its forecasts for 2006 upwards and is now targeting yearly sales of EUR 50 million for a net income of approximately EUR 4 million.
Naturex will publish its yearly sales for 2005 on January 17, 2006.
About our company
Naturex manufactures 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 and the United States and a representative office in Singapore.
If you would like to receive financial information about Naturex by e-mail, contact: www.kaparcafinance.com
Naturex Contact, Thierry Lambert, Tel.: +33 (0)4 90 23 96 89, t.lambert@naturex.com
Kaparca Finance Contact, Laurence Marquézy, Tel.: +33 (0)1 72 74 82 23, lmarquezy@kaparcafinance.com
Actus Press Contact, Agnès Villeret, Tel.: +33 (0)1 53 67 36 39, avilleret@actus.fr
NATUREX is listed since October 1996 on the Eurolist by Euronext Paris, Segment C
ISIN Code: FR0000054694
Reuters: NATU.LN
Bloomberg: NTRX
KAPARCAFINANCE - 18/10/05