Restructuring starting to deliver results says Naturex
Naturex has announced its financial results for the first quarter, noting that it is seeing the firs…Naturex has announced its financial results for the first quarter, noting that it is seeing the first positive effects of restructuring on operating indicators.
Revenues of €79.6 million were down 4.3%, with EBIT down 13.2% to €8.7 million. Net operating income was down 14% to €8.4 million. Naturex noted the impact on comparison of the two quarters’ revenues in terms of exchange rates, an unfavourable comparison base and exceptional sales of Svetol and krill extraction to Aker in 1Q13. Restated to exclude these impacts, Naturex said that it achieved organic sales growth of 6.2%.
"This encouraging start to the year for Naturex highlights the first positive contributions of actions taken both on the quality of our organic growth and our main operating indicators", said Naturex's CEO, Thierry Lambert. "Our continuing efforts in each of the areas where Naturex excels (sourcing, manufacturing, research and development, sales network), as well as synergies from the acquisition of Vegetable Juices Inc. will allow us to fine-tune our organisation in order to maximize our growth and optimize operating profitability over the medium-term."
