Naturex met ’09 targets, goes for more growth
Naturex has reported a 9.4 per cent increase in revenue in 2009 to €101.9m, up 9.4 per cent on the previous year (5.5 per cent in constant currencies). Net profit was up 23.4 per cent to €5.2m.
These figures represent record results for the company, which has been publicly listed on Euromext Paris since 1996, and are in line with the targets it set for the year. What is more, they do not take into account sales from the Natraceutical ingredients, which are included in financials only as of 1 January 2010.
The acquisition of the Natraceutical’s ingredients division for €110m propels Naturex into the leading spot in the global plant-based natural ingredients sector. It is working to fully integrate the assets of Natraceutical into its business by the end of 2011.
Given that it now has more production facilities at its disposal, as well as broader, bolstered sales presence, the company sees itself in “a new and extremely promising development cycle”.
Following the merger, Naturex now does 60 per cent of its business in food and beverages; 30 per cent in food supplements and 10 per cent in pharma and cosmeceuticals. Of that, 45 per cent is in Europe; 35 per cent in North Amrica and 20 per cent in Asia, Latin America and Africa.
It brings some new product areas to Naturex too; it has not previously been active in pectin and fruit and vegetable powders.
The new entity's headquarters will be established within two years under one roof at Naturex’s current Avignon headquarters in southern France. Natraceutical, for its part, gains 39 per cent of Naturex’s stock and 20 per cent of voting rights, and leaves it to focus on its food supplement business through its pharmacy brand Forte Pharma.
2010 and beyond
In Q1 2010 Naturex already saw the new acquisition bearing fruit, with consolidated revenues up 87.6 per cent year-on-year.
For the full year, it is aiming at another increase in revenues of between 5 and 10 per cent, at constant scope and in constant currencies.