Company update: Nutreco Q1 2011
Global feed company Nutreco reported a revenue Q1 2011 of €1,239.2 million; an increase of 15.5% from Q1 2010, mainly due to higher raw material prices.
Wout Dekker, Nutreco CEO: "The animal nutrition and fish feed producers are faced with strongly increased raw material prices, which was the main driver for the 15.5% increase in revenue compared to the same period in 2010.
“The operational results showed a strong performance in Fish Feed and a moderate start in Premix and Feed Specialties. The result in the segment Meat and Other was below last year’s due to the higher input prices, while Compound Feed Europe and Animal Nutrition Canada performed on balance in line with last year.
“During the quarter under review we announced some changes in our organisation. We merged our two agricultural activities into a new global Animal Nutrition Division, to increase knowledge and experience sharing and make use of potential synergies.
“A Nutreco Business Unit for Asia has been formed and the marketing function within Nutreco will be strengthened. These organisational changes, combined with the results achieved and the strong balance sheet, position us well to further execute our strategy."
(€ x million) | Q1 2011 | Q1 2010 | change% | ||
Revenues | |||||
Premix and Feed Specialties | 265.1 | 246.9 | 7.4% | ||
Fish Feed | 261.8 | 222.0 | 17.9% | ||
Compound Feed Europe | 351.4 | 284.8 | 23.3% | ||
Animal Nutrition Canada | 107.7 | 91.1 | 18.3% | ||
Meat and Other | 253.2 | 227.8 | 11.2% | ||
Total revenues Nutreco | 1,239.2 | 1,072.6 | 15.5% |
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