Nutreco reports first half year EBITA of EUR 94.1 million
(Thomson Reuters ONE) -
* Revenue of EUR 2,398.7 million; an increase of 1.9% compared to H1 2012
* Half year EBITA continuing operations before exceptional items of EUR 94.1
million, 9.2% lower than last year (H1 2012: EUR 103.6 million) mainly due
to lower salmon feed demand in Norway
* Premix & Feed Specialties EBITA margin improved to 7.4% (H1 2012: 6.3%) due
to focus on higher value-added nutritional solutions
* Completion of shrimp and tilapia feed acquisition Gisis in Ecuador
* Consideration of strategic opportunities for the compound feed and meat
activities in Spain and Portugal
* Barring unforeseen circumstances, Nutreco expects full year EBITA before
exceptional items to be at least in line with 2012 (EUR 262.1 million)
Knut Nesse, CEO Nutreco: "In the first half of 2013, operating results were EUR
94.1 million which is above our guidance of EUR 90 million. I am pleased with
the continuing margin improvement within the Premix & Feed Specialties segment
which now exceeds our guidance of 7%. This is due to a better performance in
Europe and a solid contribution from our portfolio of globally branded specialty
products. Nutreco's strategy is focussed on the segments Premix & Feed
Specialties and Fish Feed. In line with this strategy we are currently
investigating the best options to facilitate the growth and development of the
compound feed and meat business in Spain and Portugal and of the people who work
in it.
Our Fish Feed results were impacted by lower seawater temperatures in Europe
which caused a slow start to the year. In the second half of the year growth is
expected to be restored by higher demand, leading to modest organic volume
growth for the full year. The acquisition of Gisis has been completed following
unconditional approval from the Ecuadorian competition authorities which allows
us to start integrating and building on this position in Latin America. In Egypt
we moved from a minority interest to full control of our tilapia feed business.
Both investments support our strategy to expand in growth geographies as well as
in fish feed for non-salmonid species.
Barring unforeseen circumstances, we expect full year EBITA before exceptional
items to be at least in line with 2012 (EUR 262.1 million)."
AgriVision 2013 conference - Time to Resourcify
Nutreco hosted the seventh AgriVision animal nutrition industry conference in
June. This unique conference brought together 350 delegates from 45 countries
including agri-business leaders and a broad spectrum of stakeholders. The
conference addressed issues such as resource scarcity and the role of industry
in using innovation to help boost production sustainably in areas such as
Africa, with its unused natural resource wealth, market potential and huge
potential for productivity increases. The keynote speaker was Harvard Business
School Professor Michael E. Porter who elaborated on the idea of shared value
creation, which is about integrating societal needs and challenges into economic
value creation. Skretting's MicroBalance concept, which replaces scarce raw
materials while at the same time reducing feed costs, is a good example of
shared value creation.
Key figures
+------------------------------------------------------------------------------+
|(EUR x million) H1 2013 H1 2012 Change %|
| |
|Revenue (third parties) 2,398.7 2,354.5 1.9|
| |
|EBITDA before exceptional items from 123.6 131.9 -6.3|
|continuing operations |
| |
| |
| |
|EBITA |
| |
|Animal Nutrition 70.7 73.1 -3.3|
| |
|Fish Feed 35.1 44.0 -20.2|
| |
|Corporate -11.7 -13.5 -13.3|
| |
|EBITA before exceptional items from continuing 94.1 103.6 -9.2|
|operations |
| |
| |
| |
|Result after tax from continuing operations 53.5 62.6 -14.5|
| |
|Result after tax from discontinued operations - 19.6 |
| |
|Total result for the period 53.5 82.2 -34.9|
| |
| |
| |
|Basic earnings per share from continuing 0.78 0.89 -12.4|
|operations (EUR) |
| |
|Dividend per ordinary share (EUR) 0.30 0.30 |
+------------------------------------------------------------------------------+
Outlook
Nutreco expects:
* Premix & Feed Specialties: operating margin to exceed 7%
* Meat & Other: operating margins may improve in the second half if current
raw material price trends continue
* Fish Feed: growth in the second half is expected to be restored by higher
demand, leading to modest organic volume growth for FY 2013
* Barring unforeseen circumstances, Nutreco expects the full year EBITA before
exceptional items to be at least in line with 2012 (EUR 262.1 million)
Historically Nutreco's result is weighted towards the second half of the year
due to seasonality in Fish Feed.
Agenda 2013
Nutreco will continue to execute the strategic roadmap towards 2016:
* Develop higher value-added portfolio of nutritional solutions
* Focus on Premix & Feed Specialties and Fish Feed
* Continue drive for operational excellence in mature markets
* Grow in geographies Latin America, Russia, Asia and Africa
Calendar
17 October 2013: Trading update third quarter
6 February 2014: Full year results
27 March 2014: Annual General Meeting of shareholders
End of press release
Note to the editor (not for publication)
This press release is also published in Dutch. In the event of differences, the
English language version shall prevail as the authoritative version.
Ambition 2016
Nutreco's 'Ambition 2016 - driving sustainable growth' is to grow and improve
profitability by providing innovative and sustainable nutritional solutions for
its customers and is expected to result in an EBITA of EUR 400 million by 2016.
This will be realised by focusing on a higher added value portfolio of
nutritional solutions such as premixes, feed specialties and fish feed, and by
expanding into the growth geographies of Latin America, Russia, Asia and Africa,
which will see the largest increases in both production and consumption of
animal protein food products.
Nutreco
Nutreco is a global leader in animal nutrition and fish feed. Our advanced feed
solutions are at the origin of food for millions of consumers worldwide.
Quality, innovation and sustainability are guiding principles, embedded in the
Nutreco culture from research and raw material procurement to products and
services for agriculture and aquaculture. Experience across 100 years brings
Nutreco a rich heritage of knowledge and experience for building its future.
Nutreco employs approximately 10,000 people in 30 countries, with sales in 80
countries. Nutreco is listed on the NYSE Euronext stock exchange in Amsterdam
and reported annual revenue of EUR 5.2 billion in 2012.
For more information:
Jurgen Pullens, Director Investor Relations
Telephone: +31 (0)33 422 6134
Mobile: +31 (0)651 599 483
E-mail: jurgen.pullens(at)nutreco.com
Cautionary note regarding forward-looking statements
This announcement contains forward-looking statements. Forward-looking
statements are statements that are not based on historical fact, including
statements about our beliefs and expectations. Any statement in this
announcement that expresses or implies our intentions, beliefs, expectations or
predictions (and the assumptions underlying them) is a forward-looking
statement. Such statements are based on plans, estimates and projections as
currently available to the management of Nutreco. Forward-looking statements
therefore speak only as of the date they are made and we assume no obligation to
publicly update any of them in the light of new information or future events.
Forward-looking statements involve inherent risks and uncertainties. A number of
significant factors could therefore cause actual future results to differ
materially from those expressed or implied in any forward-looking statement.
Such factors include but are not limited to conditions on the markets in Europe,
the United States and elsewhere from which we derive a substantial portion of
our revenue, potential defaults on the part of borrowers or trading
counterparties, the implementation of our restructuring programme including the
envisaged reduction in headcount and the reliability of our risk management
policies, procedures and methods. For more information on these and other
factors, please refer to our annual report. The forward-looking statements
contained in this announcement are made as of the date hereof and the companies
assume no obligation to update any forward-looking statement contained in this
announcement.
The full press releases in English and Dutch are attached in the pdfs below.
Nutreco rapporteert H1 EBITA van EUR 94,1 miljoen:
http://hugin.info/133565/R/1718526/571720.pdf
Nutreco reports first half year EBITA of EUR 94.1 million:
http://hugin.info/133565/R/1718526/571719.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Nutreco via Thomson Reuters ONE
[HUG#1718526]
Unternehmensinformation / Kurzprofil:
Datum: 25.07.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 281627
Anzahl Zeichen: 12603
contact information:
Town:
Amersfoort
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 189 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Nutreco reports first half year EBITA of EUR 94.1 million"
steht unter der journalistisch-redaktionellen Verantwortung von
Nutreco (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
