2014 annual sales (1st January to 31 March 2014)
Press release
Avignon, 28 April 2014 - Naturex, the global leader in specialty plant-based natural ingredients, announces its 2014 first-quarter consolidated revenue:
€000s
IFRS |
Q12014 | Q12013 | Change (%) |
Change (%) at constant exchange rates |
Reported revenue | 79,603 | 83,196 | -4.3% | -2.1% |
of which Svetol sales (included in the N&H activity) |
921 | 4,544 | ||
of which krill extraction (included in Toll Manufacturing) |
1,698 | 4,440 | ||
Restated revenue* Excl. Svetol and krill extraction sales |
76,984 | 74,212 | +3.7% | +6.2% |
* 2013 was marked by strong sales from Svetol®[1] in the 1st half in response to extensive media coverage and Toll Manufacturing sales including krill extraction sales for AKER BioMarine that were very robust in the 1st quarter. The major portion of krill extraction activity for AKER BioMarine, recognised under Toll Manufacturing will be transferred outside the reporting scope for revenue starting in the 2014 second half, in light of the commencement of operations of the joint venture created with AKER BioMarine.
As announced with the release of 2013 annual results, the quarterly sales breakdown for 2014 will differ significantly from 2013, resulting in an unfavourable effect at the start of the year.
2014 first-quarter sales came to €79.6 million, declining 2.1% at constant exchange rates, due mainly to an unfavourable comparison base, amplified by exceptional performances in the 2013 1st quarter for Svetol® extraction and krill extraction sales for AKER BioMarine.
To this was added, a negative currency effect of 2.2% in the period reflecting the persistence of particularly adverse exchange rate trends not only for the US dollar but also most emerging country currencies.
Restated to adjust for Svetol® and krill extraction sales, quarterly revenue achieved organic growth of 6.2% at constant exchange rates despite a difficult macroeconomic environment:
Efforts over the last 18 months in the areas of Group restructuring, organisational improvements and commercial execution are starting to produce results. Proximity to our customers enables us to be more actively involved to their projects for developing new products.
Acceleration of Food & Beverage
€000s
IFRS |
Q12014 | Q12013 | Revenue mix (%) |
Change (%) |
Change (%) constant exchange rates |
Food & Beverage | 49,230 | 46,720 | 63.9% | +5.4% | +7.9% |
Nutrition & Health | 24,944 | 24,657 | 32.4% | +1.2% | +3.7% |
Personal Care | 1,557 | 1,468 | 2.0% | +6.1% | +6.5% |
Toll Manufacturing | 1,253 | 1,367 | 1.6% | -8.4% | -5.3% |
Improved momentum for Western Europe and strong growth in emerging countries
€000s
IFRS |
Q12014 | Q12013 | Revenue mix (%) |
Change (%) |
Change (%) constant exchange rates |
Europe/Africa | 37,009 | 35,858 | 48.1% | +3.2% | +3.1% |
Americas | 30,849 | 28,864 | 40.1% | +6.9% | +10.7% |
Asia/Pacific | 9,126 | 9,490 | 11.9% | -3.8% | +4.6% |
Over the period, all emerging countries accounted for 17.5% of Group sales, up from 15.6% from last year's first quarter.
"Organic growth in the 2014 first quarter, excluding Svetol and krill extraction sales, underscores a very encouraging trend confirming that we are on the right track. Signs of renewed momentum in all our markets and geographic regions provide grounds for optimism for the upcoming quarters and new projects will gradually contribute to sales growth over the period" commented Naturex's Chairman-CEO, Thierry Lambert.
"Restructuring measures over the last 18 months combined with internal organisational adjustments to operating departments are starting to produce benefits. On that basis, we can now explore with confidence potential acquisitions for generating additional growth and creating value"
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Financial schedule
- Q1 2014 results: - 2014 H1 sales - 2014 first-half results - 2014 third-quarter sales - 2014 third-quarter results - Annual revenue - Annual results |
26 May 2014 25 July 2014 29 August 2014 4 November 2014 28 November 2014 3 February 2015 31 March 2015 |
Upcoming events
- AGM | 26 June 2014 |
Naturex has been listed since October 1996 on NYSE Euronext in Paris, Segment B
Total number of shares comprising the share capital: 7,852,055
ISIN FR0000054694
NATUREX is a component of the CAC PEA-PME, CAC Small, Gaïa Index.
Naturex is eligible for the "long only" Deferred Settlement Service (SRD).
Naturex established a Sponsored Level 1 American Depositary Receipt (ADR) program in the United States. Under this facility, Naturex’s ADRs are traded over-the-counter in the United States under the symbol NTUXY.
SYMBOL: NRX - Reuters: NATU.PA - Bloomberg: NRX:FP - DR Symbol: NTUXY
About Naturex
Naturex is the global leader in speciality plant-based natural ingredients. The Group is organised around three strategic markets (food & beverage, nutrition & health and personal care) and produces and markets speciality plant-based ingredients for the food, nutraceutical, pharmaceutical and cosmetic industries.
Naturex’s head office is based in Avignon. The company employs more than 1,450 people with 8 sourcing offices located throughout the world and high-performance manufacturing operations across 16 sites in Europe, Morocco, the United States, Brazil, Australia and India. It also has a global commercial presence through a dedicated network of sales offices in more than 20 countries.
Contacts | |
Thierry Lambert Chairman and Chief Executive Officer Tel.: +33 (0)4 90 23 96 89
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Thierry-Bertrand Lambert Chief Financial Officer Tel.: +33 (0)4 90 23 96 89 t.b.lambert@naturex.com
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Carole Alexandre Investor Relations Tel.: +33 (0)4 90 23 78 28 |
Anne Catherine Bonjour Actus Finance Press Relations Tel.: +33 (0)1 53 67 36 93
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[1] Svetol®: a slimming ingredient developed from green coffee bean extract with efficacy demonstrated by clinical studies.