News

Naturex continues growth

14 Nov 2016

Naturex has released its quarterly financial information for the third quarter and the first nine months of 2016. 2016 third quarter revenue rose to €98.4 million, displaying organic growth of 6.3% compared with last year's third quarter.

Naturex has released its quarterly financial information for the third quarter and the first nine months of 2016.

The Group said it continued and intensified its efforts in the 2016 third quarter on developing the priority areas defined under the Bright2020 strategic plan. These included building a higher value offering around innovation and the four key product categories as well as implementing a targeted customer approach and rationalising the number of product references.

2016 third quarter revenue rose in consequence to €98.4 million, displaying organic growth 6.3% like-for-like and at constant exchange rates, compared with last year's third quarter.

For the first nine months, revenue rose to €306.4 million, up from €297.0 million for the same period in 2015, representing organic growth of 5.7% like-for-like and at constant exchange rates

My Natural Food registered 11.1% in organic growth for the 2016 third quarter with a favourable comparison base in 2015, reaching revenue of €51.5 million. This performance reflected the improved product mix built around key product categories, underpinned by continuing very positive trends for natural ingredients, particularly for speciality fruit and vegetables and colours.

For the first nine months revenue reached €159.4 million, up 6.9% like-for-like from the same period in 2015.

The Europe/Africa/Middle East region had revenue of 33.6 million in the 2016 third quarter with organic growth of 4.3%. This increase reflects the gradual upgrading of the product portfolio by shifting to key categories whereas simplification and rationalisation measures actively pursued will continue to weigh upon the region's business performance over the coming months. For the first nine months, revenue amounted to €111.4 million, up 5.7% like for like from the same period in 2015.

North America had revenue of 42.7 million in the 2016 third quarter with organic growth of 1.6% compared to the same period in 2015. Measures for reducing complexity and tension within the supply chain were intensified with the goal of providing optimal service to the targeted customer base. The strong contribution from Food & Beverage is masked by the volatility of Nutrition & Health business with the nutraceutical market going through a period of transition according to regulatory requirements.

For the first nine months of 2016, revenue amounted to €133.6 million, remaining largely steady (-0.8%) in relation to a high comparison base in 2015.

The Latin America and Asia-Pacific regions, energised by the new organisation, benefited from positive trends in their respective markets. On that basis, in the 2016 third quarter, the Latin American region had €8.2 million in revenue, up 7.3% at constant exchange rates and the Asia-Pacific region €13.9 million in revenue with organic growth of 31.0%.

These two emerging regions had combined sales of €61.4 million in 2016, representing 20.0% of total Group revenue.