|In ¤ million||2007*||2008||Change in current
|Change in constant
|First quarter||21.2||24.0||+ 13.1 %||+ 22.1 %|
|Second quarter||20.7||24.2||+ 17.1 %||+ 28.6 %|
|Third quarter||18.3||22.0||+ 20.2 %||+ 29.6 %|
|Fourth quarter||19.3||23.0||+ 19.1 %||+ 12.6 %|
|12 months||79.5||93.2||+ 17.2 %||+ 23.2 %|
|Average US dollar exchange rate||1.3677||1.4757|
*Integration of HP Botanicals on April 1, 2007 and Chart Corporation on December 20, 2007
Avignon FRANCE - January, 20th 2009 - Naturex reported a sound performance for the final quarter of 2008, with revenue of ¤ 23.0 million representing growth of 12.6% in constant dollars and 19.1% in current dollars.
Double-digit yearly growth (proforma)
Group revenue for 2008 as a whole came in at ¤ 93.2 million, up 23.2% in constant dollars and 17.2% in current dollars. Proforma**, growth amounted to 10.1% in constant dollars (4.7% in current dollars), enabling Naturex to meet its start-of-year target of double-digit growth in 2008.
Group activity in 2008 breaks down as follows: 56.5% of revenue was generated by Naturex's nutraceuticals business, while the company's food and flavor, pharmaceuticals and cosmetics divisions accounted for 32.8%, 4.8% and 2.0% respectively. The Group realized 56.5% of its revenue for 2008 in North America, 33.7% in Europe (8.9% of which was realized in France) and 3.7% in the Asia/Pacific region.
Determined sales strategy maintained
2008 saw Naturex develop its global network with the opening of a sales office in Germany in the third quarter and the creation of a subsidiary in China in the fourth. Moreover, the Group intends to pursue its expansion in 2009 and open a sales office in Japan in the first six months of the year.
Improvement in 2008 operating margin and continued growth in 2009
Bolstered by its strong sales performance, Naturex has confirmed its target operating margin of over 11% for 2008 and expects to maintain a strong organic growth path in 2009.
**Integration of HP Botanicals, Chart Corporation and the Innovative Active Ingredients ("Actifs Innovants") division of Berkem over 12 months in 2007 and 2008.
Naturex will publish its yearly results for 2008 on March 30 after the close of trading.If you would like to receive financial information about Naturex by e-mail,
NATUREX has been listed since October 1996 on Euronext Paris, segment C
ISIN FR0000054694, Reuters NATU.LN, Bloomberg NRX:FP
||Naturex develops, manufactures and markets natural ingredients for the food, dietary supplement and nutraceutical, pharmaceutical, and cosmetic industries. Headquartered in Avignon, France, the group employs 570 people and has an international reach, with over 90% of its sales generated in 30 different countries outside France, 60% of which in North America. Naturex has production facilities in France, Morocco, the United States and Italy, subsidiaries in China and the United Kingdom, and representative offices in Germany and Singapore. www.naturex.com|
|Naturex contact:||Actus contact:|
|Jacques Dikansky, President and C.E.O.
Tel.: +33 (0)4 90 23 96 89
Thierry Lambert, Vice-President and CFO
Tel.: +33 (0)4 90 23 96 89
|Laurence Marquézy, Investor Relations
Tel.: +33 (0)1 72 74 82 23
Anne Catherine Bonjour, Press Relations
Tel.: + 33 (0)1 53 67 36 93
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|NATUREX||Euronext Paris||88.30 (c)||0.71%||2 568|