Provimi shows 16.6% more sales in 2007

13-02-2008 | |

The Provimi Group has updated the market on its full year 2007 results. Sales increased to €1,918.5 million, an increase of 16.6% compared to 2006.

The company showed particular good organic growth in
Poland and in Rest of the World (see Table). The sales increase was largely due
to higher selling prices caused by increased raw material costs, which reduced
operating margins. Less favourable exchange rates had a negative impact of €13.3
million.

Revenues
(
1)

(in
EUR million)

31/12/

2007

31/12/

2006

Change

France

192.6

154.9

+24.3%

Poland

405.3

347.0

+16.8%

Rest
of Europe

823.0

730.8

+12.6%

North
America

280.7

228.9

+22.6%

Rest
of the world

216.9

184.0

+17.9%

Total

1,918.5

1,645.6

+16.6%

(1) Sales are excluding the discontinued fish feed operations, which had 2007
sales of €155. 8 million (2006: €177.6 million).

Disposal of the fish
feed activities
The disposal of the fish feed activities in Spain, Denmark and Chile
to Biomar (Denmark)

was completed on
31 January 2008. Sales of the discontinued activities amounted to €155.8 million
in 2007 (2006: €177.6 million).

High raw material prices
The
continued sharp increase in raw material prices throughout 2007 will reduce
operating margins for the full year. This particularly impacted the Pet food
business where price contracts with customers cover a longer period. Head Office
costs are increasing over the previous year as a result of various key
initiatives being implemented across the Group. These will, together with
restructuring charges and higher financial expenses, negatively impact the
Group’s financial performance for the year.

The full year results will
be published on 19 March 2008 after market closing.

Related
website:
Provimi  

To receive more free animal feed news, click
here

Correspondents



2/3 articles remaining | Register to continue reading.