April 20, 2012

Denmark's Nutreco's Q1 revenues up 11.3% on year

Nutreco's first quarter revenues for 2012 grew 11.3% on year to EUR1.128 billion (US$1.5 billion) due to its volume growth of 6.8%, the company said Thursday (Apr 19).

Sales at the premix and feed specialities division rose by 9.3% to EUR302.3 million (US$398 million). The fish feed cluster saw its sales increase by 27.6% to EUR335.3 million (US$441 million) mainly due to a strong demand for salmon feed in Norway and Chile.

The divisions compound feed Europe and animal nutrition Canada reported revenues of EUR141.3 million (US$186 million) and EUR119.7 million (US$157.5 million), respectively.

Nutreco expects earnings before interest, tax and amortisation (EBITA) before exceptional items of EUR100 million (US$131.6 million) in the first half of 2012, compared with EUR83.6 million (US$110 million) a year earlier.

Operating profit at the premix and feed specialities division is projected to be a shade higher than the EUR34.7 million (US$45.7 million) in the first half of 2011. The fish feed cluster will post a significantly higher result than the EUR35.4 million (US$46.6 million) recorded a year ago. The division compound feed Europe and the Canadian animal nutrition business will also report increased profits, according to Nutreco.