Nutreco Q3 revenue down 4.1%
Dutch fish feed producer Nutreco on Monday announced its third-quarter (3Q) revenues for 2014 are down 4.1 percent, to EUR 1.42 billion (USD 1.82 billion), due in part to foreign exchange rates.
Fish feed revenues of EUR 639.4 million (USD 817.1 million) are 8.2 percent lower than last year driven by a 5.8 percent decrease in organic volumes mainly due to significantly lower salmon feed sales to Marine Harvest in Norway. The sales volume growth of fish feed for other species was 5.4 percent.
“The performance in the third quarter is in line with our expectations and reflects organic volume growth in animal nutrition, higher non-salmonid fish feed volumes and volume growth in Iberia,” said CEO Knut Nesse. “I am very pleased with the appointment of Samson Li as new Managing Director for our Asia business unit. I am confident that he will lead the acceleration of our growth in Asia.”
According to a press statement, Nutreco confirmed its outlook for the year: Based on current trading conditions and barring any unforeseen circumstances, full year 2014 EBITA before exceptional items from continuing operations will be at least equal to last year (EUR 256.3 million; USD 327.6 million).