Consolidated revenues +83.5% ~ Net income x4

In €m
 Pro forma
Revenues 29.59 16.12 +83% 24.49
Operating income 3.67 1.11 x2,3 3.18
Current income before taxes 3.04 0.61 x4 2.40
Net income 1.74 0.36 x4 1.28
Net income (group share) 1.67 0.34 x4 1.25

Strong growth in income

Naturex generated 2002 revenues of €29.59m, up by 83.5% and fully in line with expectations. This performance is due to the integration of BRUCIA Plant Extracts and reflects strong organic growth of 31%. Operating income was 2.3 times higher, whilst net income rose fourfold. The financial structure remained solid following the acquisition of BRUCIA Plant Extracts, with corporate capital of €19.7m at 31 December 2002 for net financial debt of €6.6m.

Successful integration of BRUCIA Plant Extracts

One of the main events of 2002 was the integration of BRUCIA Plant Extracts into the Naturex group, which was a financial, industrial and commercial success. This acquisition enabled Naturex to step up its development plan by giving the group a new dimension and strengthening its position on the nutraceutical market (42% of revenues), as well as broadening its presence on the American market (53% of revenues). This is a highly accretive operation.

2003 outlook: strong organic growth potential

Naturex intends to continue its rapid growth, with 2003 revenues expected to increase by 10% on a constant dollar basis. 2003 net income is forecast to reach between €1.8m and €2.2m. Revenues are forecast to increase by 9.9% on a constant dollar basis to €8m in the first quarter of 2003 (€7.1m and -2.3% taking dollar fluctuations into account).

Naturex wins the 2003 Audace Créatrice prize

On 25 March, Naturex was awarded the Audace Créatrice prize by French President Jacques Chirac during a ceremony at the Elysée Palace, attended by Mr Marc Ladreit de Lacharrière and members of the prize jury. This prize rewards young, rapidly expanding companies with exemplary track records. The imagination and innovative nature of their managers are recognized by the French Stock Exchange.

ISIN : FR0000054694-NRX
 Reuters : NATU.LN
 Bloomberg : NTRX


 Thierry LAMBERT
 on +33 (0)4 90 23 96 89
 Marion Brossard
 on +33 (0)1 53 67 36 57
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