Wout Dekker, the CEO of Nutreco, is expected to announce numerous takeovers in the coming weeks. (Photo: Nutreco/FIS)
Nutreco's 2010 revenues shoot up by 9.5 pc
Friday, February 11, 2011, 23:50 (GMT + 9)
Animal feed manufacturer Nutreco saw an increase of 9.5 per cent in revenues to EUR 4,939 million in 2010. Its EBITA before exceptional items reached EUR 222.5 million - 27 per cent higher than in 2009.
Its cash flow was robust from operating activities at EUR 205.5 million and the company had a dividend proposal of EUR 1.50 per share.
“We are proud to report an excellent operating result for Nutreco in 2010,” stated Wout Dekker, CEO Nutreco.
“The results in Premix and Feed Specialties were an improvement over 2009 through increased volumes. In the Fish Feed segment we had a record operating result, due in part to the recovery now occurring in Chile and a strong performance in Norway. The integration of the Cargill acquisition in Spain and Portugal is progressing according to plan,” he added.
He noted the world’s need to feed 9 billion people in 2050 and Nutreco’s role by providing new feed solutions.
“The newly developed MicroBalanceTM concept in salmon feed is a perfect example of a Nutreco innovation where ecology and economy come together. It reduces dependency on the scarce raw material fishmeal in feeds, contributing to a sustainable growth in aquaculture,” Dekker said.
Nutreco is working to acquire a foothold in key global markets and become an international player. In feed additives particularly, he told, the company wishes to progress and lead the development of differentiating feed solutions.
“Nutreco has a leading position in fish feed based on know-how of the production of high-quality feed for fish in a sustainable manner. We want to capitalise on this position by entering other markets both in geography and species,” Dekker explained.
The firm is investing EUR 20 million in the upgrade and expansion of its fish feed facility in Australia. This move will enable Skretting, its fish feed producer, to satisfy escalating demand for high-quality fish feed for salmon, trout, barramundi and tuna in Australia as well as New Zealand.
Since 2001, the regional market volume of fish feed has climbed by an average of 10 per cent per annum.
In July of last year, Nutreco announced its acquisition of Vietnam’s Tomboy Aquafeed, a Vietnamese fish and shrimp feed company. Because it is in the number four market position, Tomboy Aquafeed is a chief participant in the country’s shrimp sector.
Tomboy recently invested in a new plant and began manufacturing feed for marine and freshwater species. It began by concentrating on feed for shrimp and catfish and is now also focusing on feed for other marine fish species.
In the next few weeks, Nutreco will announce takeovers in China, Brazil and Vietnam.
- Skretting expands along with aquaculture industry
- Nutreco's Q3 turnover sees growth of 11 pc
By Natalia Real