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Nutrition & Health posted excellent growth, reflecting Naturex's strong positioning in North America and significant development in Europe, Asia and Latin America.
February 4, 2014
3 Min Read
Naturex, global leader in specialty plant-based natural ingredients, announces its annual consolidated revenue for fiscal 2013.
The difficult global economic conditions prevailing in 2013 led to slower economic growth, particularly in Western Europe.
In that context, and despite a particularly high comparison base from the prior year's second half, Naturex achieved good annual gains in an ingredients market still sustained by positive underlying trends favour of the natural, health and well-being.
On that momentum, full-year sales reached €320.8 million, up 7 percent from 2012. At constant exchange rates, sales rose 9.7 percent including organic growth of 8.0 percent and 1.7 percent from changes in Group structure (business of Decas Botanical Synergies consolidated as of Sept. 19, 2012). Foreign exchange trends (-2.7 percent for the year) impacted mainly 2013 third and fourth quarter sales due to the significant depreciation of several currencies versus the euro, including the US and Australian dollars and selected emerging country currencies (Brazil, Mexico, China, Russia, India, etc.).
Nutrition & Health driving growth
Food & Beverage had revenue of €184.1 million, with a marginal gain at constant exchange rates from the same period in 2012. This limited growth was however accompanied by a positive shift in the product mix to higher value-added products.
Nutrition & Health posted excellent growth, gaining 24.8 percent at constant exchange rates to reach €112.9 million, reflecting both Naturex's strong positioning in North America as well as significant development in Europe, Asia and Latin America.
Personal Care had revenue of nearly €6.0 million, up 24 percent at constant exchange rates. The Group continued to focus on developing its range of products specifically designed for cosmetic applications, and notably the NAToleis™ pure botanical oils range launched in September 2013.
Toll Manufacturing's revenue came to €18.0 million for the year, up 29.9 percent at constant exchange rates. It is to be noted that the production plant created within the framework of the joint venture with Aker BioMarine Antartic will come on line in the 2014 second quarter and integrate a portion of production currently assured by the Toll Manufacturing business unit.
Growth in all geographic regions
To take into account the geographic breakdown of our Sales Divisions, countries of the Middle East region previously included in Europe/Africa are henceforth presented within the Asia/Pacific region. The breakdown by geographic region for 2012 annual sales in consequence takes into account this new presentation.
Growth performances for the three geographical regions were less uneven, despite currency effects, due to positive contributions from emerging countries that account for 17.7 percent of Group sales.
The Europe/Africa region had revenue of €150.6 million, up 6.9 percent at constant exchange rates from 2012. In addition to the good level of activity for toll manufacturing in this region, selected Western European countries showed encouraging signs of recovery at year-end.
Revenue for the Americas region rose 11.4 percent at constant exchange rates to €130.3 million, confirming both the strong contribution of the United States and Latin America's continuing strength despite the significant depreciation of selected currencies, in particular the Brazilian real.
The Asia/Pacific region had growth of 14.7 percent at constant exchange rates with revenue of €39.9 million. Asia continued to show very strong gains and now accounts for 53.5 percent of sales for this region, whereas sales in Australia advanced at a slower pace, henceforth focusing on the Naturex range of ingredients destined for the nutraceutical market in order to offset the historic volatility of the ingredients distribution activity.
"Naturex achieved a very good performance for 2013 in a particularly challenging economic environment in terms of growth and despite an unfavourable comparison base", commented Thierry Lambert, Naturex's chairman and CEO. "This positive momentum reflects the work of our teams who contribute throughout the world to Naturex's development by providing an international customer base with a service and innovation driven offering. In 2014, we must continue to progress in a still difficult macroeconomic environment, focusing on our organic growth while pursuing our strategy of selective acquisitions."
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