| In EUR millions | 2007 | 2008 | Change at current USD | Change at constant USD |
| First quarter | 21.2 | 24.0 | +13.1% | +22.1% |
| Second quarter | 20.6 | 24.1 | +17.1% | +28.7% |
| First half | 41.8 | 48.1 | +15.1% | +25.3% |
Naturex had an excellent second quarter with revenues up 28.7% at constant USD rates (up 17.1% at current USD rates).
Acceleration of organic growth in the 2nd quarter
Over this period, proforma organic growth (including HP Botanicals, Chart Corporation and Berkem’s “Active Ingredients” division in 2007 and 2008) stood at 16.2% (up 5.8% at current USD rates) and sharply increased in comparison with the first quarter when it reached 7.3% at constant USD rates. This confirms the healthy expansion of the group in all sectors.
First half in line with objectives
In the first half, revenues stood at EUR 48.1 millions, up 25.3% at USD constant rates (up 15.1% at current USD rates). Proforma organic growth stood at 11.7% (up 2.5% at current USD rates), perfectly in line with the group’s objectives.
Outlook
Encouraged by the development of all its business activities and the successful integration of its recent acquisitions (Chart Corporation and Berkem’s “Active Ingredients” division), Naturex confirms its objectives for the financial year: double-digit proforma organic growth at constant USD rates and a significant increase in operating margin that should reach 11% (8.4% in 2007).
Extremely good news for rosemary extracts
Naturex, one of the main producers of rosemary extracts is particularly pleased with the decision of the European Food Safety Authority (EFSA) which paves the way for the official approval of rosemary extracts in the regulations on food additives, allowing them to be labelled as “antioxidant : rosemary extract”. Naturex considers that the future registration as a natural antioxidant will accelerate the increased use of rosemary extracts by the European food industry.
Naturex will present its half-year results on September 22, 2008
If you would like to receive financial information about Naturex by e-mail, contact:
www.kaparcafinance.com
NATUREX has been listed since October 1996
Euronext Paris, sepgment C
ISIN: FR0000054694
Reuters NATU.LN
Bloomberg NTRX:FP
Naturex contact: Thierry Lambert, Vice-President and CFO, Tel.: +33 4 90 23 96 89, t.lambert@naturex.com
Kaparca Finance contact: Laurence Marquézy, Investor relations, Tel: +33 1 72 74 82 23, lmarquezy@kaparcafinance.com
Kaparca Finance - 7/07/08