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Provimi reports sales increase of 15%

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Sales for the Provimi Group increased by 15% to €1,823.2 million compared to 2005. Progress was particularly good in North America and the emerging markets.

On a like-for-like basis, sales growth was 9.5%, partly driven by higher selling prices resulting from increased raw material costs.

Acquisitions contributed €64.7 million to sales, while more favourable exchange rates had an impact of €20.4 million.

In France, despite a declining market, sales and volumes improved also due to a good contribution from strong exports growth to Asia and Latin America.

Poland down due to Avian flu
In Poland, operations were impacted by adverse market conditions for customers as a result of the indirect impact on the poultry sector of the avian flu scare in the first semester and the restriction in exports of pork meat due to closed borders with Russia and Ukraine.

Unfavourable weather conditions negatively impacted crops resulting in a strong increase in grain prices. In the Rest of Europe, sales showed good growth and included the full year effect of the acquisitions made in 2005.

Feed business growth
The most significant contribution to sales growth came from the feed businesses in The Netherlands, Romania, Bulgaria and Russia as well as from pet food. In North America, sales improved strongly as a result of new market initiatives and the acquisitions made in Canada and California in 2006.

Aqua performed well
In the Rest of the world, the excellent growth in sales was broad based. Notably, the Aqua feed business in Chile sharply increased sales benefiting from favourable market conditions and the joint venture with AquaChile. Part of the increase can also be attributed to higher prices for fish meal and fish oil.

Sales further benefited from strong developments in other countries such as Vietnam, India, South Africa and Brazil.

The Group is positive about its full year results 2006. The full year results will be published on 21 March 2007 after market closing.
Additional info: Provimi

 

by Editor AllAboutFeed last update:6 Aug 2012

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