Nutreco announces 2010 results, executive changes
Nutreco on Thursday announced a 9.5 percent increase in revenue to EUR 4.9 billion in 2010. The animal nutrition and fish feed producer also reported a record EBITA of EUR 222.5 million, up 27 percent from 2009.
Profits for the company also increased by 21.5 percent to EUR 113 million.
Looking to 2011, the company said it wants to achieve growth through capitalizing on leasing fish feed positions and diversify by expanding in new regions and into feed for other species and shrimp. The company also plans to pursue significant positions in China, Brazil and Russia, develop sustainable businesses in Western Europe and North America and further develop feed additives activities by innovation and acquisitions.
“We are proud to report an excellent operating result for Nutreco in 2010. The results in Premix and Feed Specialties were an improvement over 2009 through increased volumes,” said CEO Wout Dekker. “In the Fish Feed segment we had a record operating result, due in part to the recovery now occurring in Chile and a strong performance in Norway. The integration of the Cargill acquisition in Spain and Portugal is progressing according to plan.”
In addition, Nutreco announced changes to its executive board. Due to a merging of the company’s agriculture and specialties divisions to form Animal Nutrition, Frank Tielens, executive VP specialties division and member of the executive board, will relinquish his position effective 1 March. Jerry Vergeer, current executive VP for the agriculture division has been appointed COO of Animal Nutrition.
CFO Cees van Rijn will retire as of 30 September, with Gosse Boon as his successor. Boon previously held positions at Unilever and Johnson Diversey. Prior to joining Nutreco in June 2010, he served as CFO of Can Gansewinkle Groep.