Nutreco reported revenue of €1.13 billion in the first quarter of 2012, up 11.3 percent from the first quarter of 2011, according to the company's latest financial statement. Revenue was mostly driven by volume growth of 6.8 percent, said the report.
"After the excellent results in 2011, we entered 2012 with strong momentum," said Wout Dekker, CEO. "The first quarter results of all of our business segments are higher than the performance in the same period last year. In particular, our aquaculture division had a strong result due to high volume growth in salmon feed. The integration of the acquisition of the Shihai fish and shrimp feed company in Southwest China is on track; so is our capital investment program in Norway to support further organic growth. The first expansion phase will be completed in 2012 and phase two will be ready before the 2013 peak season.
"The results in all segments of our animal nutrition division improved compared to the first quarter of 2011," said Dekker. "By achieving 97 percent of the shares in our Brazilian Fri-Ribe subsidiary, we created the platform to take further steps in one of the most important agriculture and aquaculture growth markets in the world."
Nutreco's aims for the rest of 2012 include developing a higher margin portfolio of nutritional solutions; focusing on premix and feed specialties and fish feed; continuing to drive for operational excellence in mature markets; and achieving growth in Brazil, Russia, China and Southeast Asia.