Nutreco reports higher revenues for 2015
Company’s three segments all saw improvement
Nutreco reported higher net revenues for 2015 of EUR5.7 billion (US$6.5 billion), compared with EUR5.3 billion (US$6.0 billion), reported a year ago.
The company reported improved results in all of its segments: animal nutrition, aquafeed and Nutreco Iberia. It also said it made strides in meeting its sustainability objectives and strengthening its supply chain.
“2015 was in many ways a special year for Nutreco,” said Knut Nesse, CEO of Nutreco. “The financial results were very good across all of our businesses. This confirms that we are increasingly successful in translating our R&D and innovation capabilities into sustainable nutritional solutions valued by our customers. With the acquisition of U.S.-based trace mineral producer Micronutrients, we realized the third-largest acquisition in our history.”
“Perhaps the most visible event was the delisting of Nutreco from the Amsterdam stock exchange as a result of the takeover by SHV. We opened a new chapter for Nutreco as a private company, while continuing our ‘Driving sustainable growth’ strategy with the full support of our new shareholder,” Nesse said.
The good financial performance in all of Nutreco’s three segments were mainly the result of a more favorable product mix, the contribution of Nutreco’s acquisitions in Brazil as well as positive currency effects.
Animal Nutrition, primarily trading under the Trouw Nutrition company brand, performed well despite difficult market circumstances in the global swine and dairy sectors. The increased focus on global products improved the performance of the Selko feed additives brand.
In Aquafeed, trading under the Skretting company brand, the salmon feed business performed strongly in 2015, and maintained the position as global market leader, although there is still overcapacity in the main Norwegian market. In shrimp feed, Ecuador reported strong organic growth.
Nutreco’s Iberian business performed well on the back of a recovering Spanish economy. Nanta, a producer of compound feed, reported growing volumes to third-parties, while Sada, which specializes in poultry meat, benefited from good performance during the high (summer) season.