Strong results from Nutreco
"We are pleased to report good results for Nutreco in the first half of 2011. Fish feed is delivering excellent results. The growth is clearly back in salmon farming. There is a strong recovery in Chile from the ISA virus and a continuing good performance in Norway. Skretting Chile will reopen its Pargua fish feed plant in September 2011 to meet the growing demand. We also see exciting opportunities to further diversify in feed for other fish species and in new regions such as South-East Asia and South America."
• Revenues of EUR 2,573.4 million; an increase of 14.3% compared with the first half of 2010 • Excellent first half year result in Fish feed compensated for slightly lower results in other businesses • Total EBITA Animal Nutrition and Fish feed up 9.5% • Earnings per share increase 13.3% • 2011 interim dividend of EUR 0.50 in cash or shares
Key figures (EUR x million ) H1 2011 H1 2010 Change Revenue 2,573.4 2,250.5 14.3% EBITDA before exceptional items 114.7 112.0 2.4% Animal Nutrition 54.6 61.5 -11.2% Premix and feed specialties 34.7 40.5 -14.3% Compound feed Europe 9.0 10.6 -15.1% Animal Nutrition Canada 10.9 10.4 4.8% Fish feed 35.3 20.6 71.4% Total Animal Nutrition and Fish feed 89.9 82.1 9.5% Meat and other 8.0 12.8 -37.5% Corporate -11.5 -10.9 -5.5% Operating result before exceptional items and amortisation (EBITA)86.4 84.0 2.9% Operating result (EBIT) 72.7 67.6 7.5% Profit after tax 44.9 40.4 11.1% Basic earnings per share (EUR) 1.28 1.13 13.3% Cash earnings per share (EUR) 1.38 1.23 12.2%
