42.4 percent Q1 final result increase for Eridania Béghin-Say

- Last updated on GMT

Related tags: United states dollar, Eridania beghin-say

The French-Italian food group Eridania Beghin-Say reported a 42.4
per cent increase in its final result to Euros 8.4m for the first
quarter 2001, Les...

The French-Italian food group Eridania Beghin-Say reported a 42.4 per cent increase in its final result to Euros 8.4m for the first quarter 2001, Les Echos reported. The 11.8 per cent increase in sales is mainly due to organic growth (Euros 257.9m or 11.8 per cent) together with the positive effect of changes in exchange rates (Euros 30.7m, primarily due to the US dollar exchange rate) partially offset by the negative effect of net changes in the consolidation scope (Euros 26.5m). Organic growth rate was high in the Animal Nutrition business and equally sustained in the Sugar and the European Food Oil businesses as well as in both European and American Starch businesses; it was moderate in the Oilseed Processing business in North America. The operating income increased 20 per cent, stemmed from organic growth, which amounted to Euros 15.4m or 21.1 per cent, as the effects of changes in exchange rates in the consolidation scope were not significant for the period. The organic growth is due to the Food Oil business in Europe and to the Oilseed Processing business in North America while other businesses had lower contributions. The turnover increase is due to the internal growth combined with a monetary conservation effect (+Euros 30.7m linked to the increase of the dollar exchange rate) compensated by variations in the consolidation perimeter. The internal growth was strongly marked by the animal feed with the recent acquisitions of a French fish feed company - Sofrada Aquaculture (turnover: Euros 7m) and of a Czech animal feed and health company Mika a spol/Proesko (turnover: Euros 8m). The operating result of the Starch & Derivatives activities decreased by Euros 2.9m. Due to the impact of seasonal factors and world crops on Eridania Béghin-Say businesses, the first quarter results cannot be extrapolated to the full year. However, the company claims that improvements achieved during the first three months of the year are encouraging and it foresees positive results for 2001. Source: Les Echos​, Eridania Beghin-Say

Related topics: Market Trends

Related news

Follow us

Products

View more

Webinars