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Nutreco half-year revenues down 8.5 percent

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Publish time: 31st July, 2009      Source: www.cnchemicals.com
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July 31, 2009
   

   

Nutreco half-year revenues down 8.5 percent

   
   
   

Nutreco's half-year revenue declined 8.5 percent on-year to EUR2.1 billion (US$2.9 billion) but the performance was in line with the company outlook.

   

   

The decrease was mainly due to seven-percent lower volumes. EBITA reached EUR41.6 million (US$58.6 million).

   

   

The company's agreed acquisition of 12 compound feed plants from Cargill in Spain and Portugal is expected to strengthen its leading market position.

   

   

Company-wide programmes to reduce working capital and operational costs are contributing to the result. Nutreco secured financing with a syndicated loan and a private placement and maintained a strong balance sheet.