The Provimi Group, a leading animal nutrition business, has announced its turnover for the full year 2008.

Sales increased to EUR 2,154.1 million, an increase of 12.3 percent compared to 2007. On a like-for-like basis, sales growth was 13.9 percent, with particular good organic growth in France and the segment Rest of the World.

Globally, the sales increase was linked to higher raw material prices. In France, higher sales were also linked to strong evolution of minerals and specialties for ruminants. In the segment Rest of the World, the sales increase was also due to new contracts in South America.

Less favourable exchange rates had a negative impact of EUR 16.4 million.

Provimi has seen a lower activity in Q4 2008 with sales down 3.6 percent on a like-for-like basis compared to Q4 2007. Sales in Central Europe have slowed down in Q4, impacted by lower raw material prices, weakening currencies and lower volumes.

As was announced in our last press release, Provimi has a solid financial position and complies with all its financial covenants.

Despite the negative impact of market circumstances (sharply decreased commodity prices) in the second half of 2008, overall operating margin over the full year 2008 improved compared with 2007.

The annual results for 2008 will be published on March 31, 2009, after market closing.