Growth for Nutreco, but fish feed under pressure

06-02-2015 | |
Growth for Nutreco, but fish feed under pressure
Growth for Nutreco, but fish feed under pressure

A turnover of € 5.2 billion is (probably) the final public final agreement before the Dutch feed company is expected to be in the hands of investment company SHV.

This is concluded from the 2014 financial results report, which was released by Nutreco on February 5th.  Some main points from the report:

  • Revenue of € 5,253.0 million; an increase of 0.3% compared to 2013
  • Organic volume growth was 2.2% compared to 2013.
  • Net profit grew with 2% to € 153.8 million
  • Animal Nutrition EBITA increased by 12.0% to € 125.0 million
  • Fish Feed EBITA increased by 2.8% to € 134.3 million
  • Compound Feed & Meat Iberia EBITA of € 34.9 million was 14.0% lower than 2013

Fish feed under pressure

According to Nutreco, the fish feed results are under more pressure because the Norwegian salmon farmer Marine Harvest has begun its own production line for salmon feed. Disappointing figures were seen at the Spanish-Portuguese Compound feed and meat Iberia. This is attributed to lower meat prices. Nutreco tried to sell this division before, but that did not work.

International feed acquisitions

Over the years, Nutreco has become a less Dutch based company. In the fish feed division, companies in Egypt and Ecuador were acquired. In the compound feed division, acquisitions were done in Nigeria and Brazil.

Takeover by SHV expected soon

It is presumably the last time, that Nutreco presents these annual results as an independent company. Last year, SHV showed interest in the acquisition of Nutreco. Since then, the plans have become more concrete over the last months and SHV is buying more shares. It expected that the acquisition will be finalised soon.

Emmy Koeleman Freelance editor