Nutreco: Markets good in China, bad in Spain
Growth in China and other locations worldwide have helped Dutch fish-feed manufacturer Nutreco’s revenues up compared to this time last year, despite “tough market conditions” in Spain.
The company’s third-quarter results for this year show a revenue of EUR 1.48 million (USD 1.93 million), an increase of 13 percent compared to the company’s third-quarter 2011 results.
According to Nutreco CEO Knut Nesse, the company had an increase in its premix and feed specialties segment, in part due to growth in China, Russia and Indonesia. In addition, Nesse cited higher shrimp and feed volumes due to new business in Shihai, China.
“I am satisfied with the overall results in the face of tough economic conditions and against a background of higher raw material prices affecting our customers,” Nesse said.”With innovative and sustainable feed solutions we are supporting our customers to cope in these challenging times.”
Volumes were down by 3 percent, and a release from the company blamed “tough market conditions, mainly in Spain.”
The new report also mentioned an 8 October acquisition of 75 percent of the shares in Gisis S.A., the shrimp and feed subsidiary of Expalsa, a fish feed and shrimp and tilapia farming company in Ecuador. Nutreco bought the shares for approximately EUR 78 million (USD 102.2 million), making Nutreco one of the top three shrimp feed suppliers worldwide.
“We continue to expand in growth geographies and feed for non-salmonid fish species and shrimp whilst maintaining our leading position in salmon,” Nesse said.