Fish feed giant Nutreco has recorded a first-quarter revenue of nearly €1.1 billion ($1.4 billion), a 2.7% improvement on the corresponding quarter of 2009.
Nutreco has recorded a first-quarter revenue of nearly €1.1 billion ($1.4 billion), a 2.7% improvement on the corresponding quarter of 2009.
The Dutch feed manufacturer confirmed all its divisions had achieved higher operating profits in Q1 2010 and that it expects its first-half EBITA (earnings before interest, taxes, depreciation and amortisation) to exceed €70 million ($90.1 million), compared to €41.6 million ($53.5 million) in the first half of 2009.
“I am pleased with this performance. We ended last year strongly, and our results continued to be strong in the first quarter of 2010,” said Nutreco CEO Wout Dekker. “The results in all business segments are above the same period last year.”
Its revenues in fish feed of €217.1 million ($276.9 million) were 14.6% higher than Q1 2009. The volume increase in this period was 13.6%.
The Q1 results are normally 5-10% of the annual results as the majority of the result in fish feed will traditionally be made in the second half of the year due to seasonal influences, said Nutreco.
It explained there was a strong volume growth in Norway in Q1 and to a lesser extent in other regions. It added the situation in Chile was starting to improve with a higher demand for fish feed.
“These results, our strong balance sheet and the initiatives we are involved in mean that we are heading into 2010 with confidence,” said Dekker. “We will continue our growth strategy to further strengthen our global market positions in feed specialties and fish feed by organic growth and acquisitions.”
