Provimi's sales amounted to EUR433.9 million in the first quarter of 2009, down 18.5 percent compared to the same period last year.

On a like-for-like basis, sales decreased 15.7 percent. The sales decrease was mostly due to decreasing raw material prices and lower volumes. Exchange rate effects had a negative impact of 5.9 percent (EUR32 million), mainly caused by the Polish zloty, the Russian rouble and the Brazilian real, and partially offset by the US dollar.

'Pet food' sales increased nearly 10 percent in comparison to the same period last year.

Increased production capacity in Hungary and better utilisation of the Group's existing plants allowed the business to gain new customers and benefit from a growing demand for private label products. Furthermore, geographic extension is yielding successful first results with additional growth in Germany and Romania.

In 'Animal nutrition', the sales decrease in 'North West Europe' was mainly caused by diminishing volumes in export markets, while turnover in 'Poland/Ukraine' was negatively impacted by a declining market, aggressive competition leading to an erosion of market share, and lower prices. The Group has put restructuring projects in place in Poland to improve its competitiveness. In 'Other Central and Eastern Europe', the sales decrease is due to the closure of the Group's complete feed activities in Hungary and in the Balkans.

Turnover in the cluster 'Other' mainly shows the impact of discontinued operations.

In view of generally lower volumes in 'Animal Nutrition', the Group has engaged in a significant cost savings programme from which it expects to see results in the second half year. This programme aims at increasing the Group's competitiveness and improving its responsiveness to changing market conditions.

The Provimi Group is active worldwide in all types of animal nutrition and has 87 production centres in some 30 countries and exports to over 100 countries. Provimi manufactures products and supplies technical support for all species, including ruminants, poultry, swine and pets.