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Wout Dekker, CEO Nutreco, said the company has had excellent first six months. (Photo: Skretting)
Nutreco doubles operating results
NETHERLANDS
Thursday, July 29, 2010, 23:50 (GMT + 9)
Animal nutrition and fish feed company Nutreco announced a hearty leap of 101.9 per cent in its first-half operating result before amortization (EBITA) to EUR 84 million from EUR 41.6 million in H1 2009. Revenues rose to EUR 2,250.5 million compared with the first half of 2009 when it was EUR 2,127.7 million -- an increase of 5.8 per cent.
The Dutch firm saw a hefty increase in its volume of fish feed and Premix and feed specialties.
All of Nutreco’s business segments reported improved operating results compared with the first half of 2009.
The 2010 interim dividend was EUR 0.50 in cash or shares, a 150 per cent climb from the EUR 0.20 in H1 2009.
For this full year, the firm anticipates an increase of approximately 25 per cent in EBITA before exceptional items versus 2009, when it was EUR 175.2 million.
Operating result from 'continuing operations' before amortisation was EUR 74.1 million compared to EUR 38.5 million in H1 2009, representing a 92.5 per cent boost.
Profit after tax from 'continuing operations' was EUR 40.4 million this past half-year, versus EUR 13.7 million in the first half-year of 2009 – a rise of 194.9 per cent.
Basic earnings per share from 'continuing operations' were reported at EUR 1.13 this half-year compared to EUR 0.36 in H1 2009, showing a 213.9 per cent jump.
"We have had excellent first six months,” said Wout Dekker, CEO of Nutreco. “The results are better than in the same period last year for all business segments.”
“For the second half of the year, we expect results in line with the very strong second half of 2009. For the full year this will lead to an increase of approximately 25 per cent in EBITA before exceptional items," Dekker continued.
Fish feed operations displayed a strong expansion in Norway and the firm expects a recovery in the Chilean aquaculture sector. Nutreco’s compound feed operations in Europe showed business results in line with the tendency of the last quarters of 2009, which was EUR 133.6 million, he elaborated.
Nutreco touts itself as a global leader in animal nutrition and fish feed, with its advanced feed solutions at the origin of food for millions of consumers across the globe. It employs some 9,700 people in 30 countries and sells its products in 80 countries.
It is listed on the NYSE Euronext stock exchange in Amsterdam and had annual revenues of EUR 4.5 billion last year.
Related article:
- Nutreco reports good last half of 2009
By Natalia Real
[email protected]
www.seafood.media
Photo Courtesy of FIS Member  Skretting AS - Headquarters
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