By SeafoodSource staff
Published on 17 April, 2013
Nutreco’s 1Q report for this year shows operating losses in some areas, but an overall increase in revenues compared to 1Q 2012, according to a statement from the company.
“We are pleased with the positive developments in the core growth areas of higher added value nutritional solutions and fish feed for other species,” the company said in its report.
Total revenues from the first quarter add up to EUR 1.1 billion (USD 1.4 billion), an increase of 1.3 percent over results for the same quarter in 2012. Animal nutrition revenues also went up by 3.1 percent to EUR 817.6 million (USD 1.1 billion).
Other revenues dropped, however, including fish feed, which was at EUR 325.3 million (USD 424.5 million), a loss of 3 percent compared to 2012. The company blamed a “slow start to the year” on lower feed volumes due to colder-than-usual water temperatures in Norway.
Based on the developments in the first quarter, the company estimates revenues for the first half of 2013 to be approximately EUR 90 million (USD 117.4 million), down from the EUR 103.7 million (USD 135.3 million) reported in the first half of 2012.