Nutreco is looking to drive sustainable growth and expand its operations in Latin America, Russia, Asia and Africa after reporting solid results in 2013.
The group recorded revenue from continuing operations of €3,867.1m in 2013, an increase of 1.2%. But, its full year EBITA continuing operations decreased by 4.3% to €215.7m, mainly due to 8% lower results in Fish Feed, while Its Animal Nutrition EBITA margin improve to 6.1% due to focus on higher value-added nutritional solutions.
“This year was a respectable one for Nutreco and we delivered solid results in a challenging market,” said Knut Nesse, CEO. “In line with the Q3 outlook we achieved a total EBITA of € 256m, which is, although slightly lower than 2012, the second best operating result in the history of the company.”
Following this, it plans to divest compound feed and meat business in Spain and Portugal to provide the “best future opportunities” for these businesses.
“The intended divestment of our compound feed and meat businesses in Spain and Portugal brings us closer to our core growth businesses and markets. Accordingly our organisational and management structure will be adjusted. The new top structure better aligns our strategic priorities and provides better execution power. Innovation is our key growth driver and will help us to fulfill our mission 'Feeding the Future',” added Mr Nesse.
The new business structure will consist of two global units (Salmon Feed and Feed Additives) and three regional business units (Americas, Asia and EMEA) to accelerate growth into new markets.
