Nutreco late last week reported its first-quarter results, including revenues of nearly EUR 1.1 billion (USD 1.45 billion), up 2.7 percent from the first quarter of 2009.
The Dutch fish-feed manufacturer also noted that all of its divisions had higher operating profits in the first quarter of 2010 and that it expects its first-half EBITA (earnings before interest, taxes, depreciation and amortization) to exceed EUR 70 million (USD 92.3 million), compared to EUR 41.6 million in the first half of 2009.
“I am pleased with this performance. We ended last year strongly, and our results continued to be strong in the first quarter of 2010,” said Nutreco CEO Wout Dekker.
“The results in all business segments are above the same period last year,” he continued. “Our premix and feed specialties business continued its positive performance. The fundamentals in the fish-feed business are solid, showing strong growth in Norway, the Mediterranean and Australia. Furthermore, we are more confident about a step-by-step recovery of the Chilean fish-farming industry.
“These results, our strong balance sheet and the initiatives we are involved in mean that we are heading into 2010 with confidence,” said Dekker. “We will continue our growth strategy to further strengthen our global market positions in feed specialties and fish feed by organic growth and acquisitions.”
Last July, Nutreco acquired Cargill’s animal nutrition division in Spain and Portugal. And last November, the company purchased a 51 percent share in a Brazilian fish-feed and animal nutrition company.
