NATUREX : 5.9% organic growth in Q4 2017. Sales steady for the year

2017 Q4 (1 October to 31 December 2017) and FY revenue (1 January to 31 December 2017)

5.9% organic growth in Q4 2017

Sales steady for the year

Press release

Avignon, 6 February 2018 - Naturex, the global leader in specialty plant-based natural ingredients, announces its 2017 fourth-quarter and annual consolidated revenue:

Annual revenue

 €m - IFRS

(Unaudited data)
2017
2016
Change (%)

 


 
 
 
Current exchange rates
Like-for-like

(constant currency and structure)


Fourth-quarter sales
103.6
97.9
+5.8%
+5.9%


Annual sales
404.9
404.4
+0.1%
-0.3%

See Appendix: Breakdown of quarterly revenue by business market and geographical region

2017 fourth-quarter revenue rose to €103.6 million, up from €97.9 million from the same period in 2016. This included €4.7 million from the consolidation scope effect¹ as well as an unfavourable currency effect for the same amount.

Like-for-like, 2017 fourth-quarter revenue was up 5.9%, following three quarters of declines reflecting product portfolio simplification and rationalization measures combined with strong volatility in selected markets.

An improved product mix and a targeted commercial approach fuelled organic growth in both strategic platforms: +10.0% for My Natural Food with sales of €55.5 million and +9.4% for My Natural Selfcare with €34.4 million in sales. Other activities registered revenue of €13.7 million compared to €16.4 million one year earlier.

At the geographical level, the new regional commercial organization has started to produce results highlighted by organic growth of 1.5% for the EMEA region with sales of €38.2 million and 2.4% for North America with sales of €40.1 million. Revenue from emerging countries has continued to grow. The Asia-Pacific region was up 21.7% at constant currencies to reach sales of €17.4 million and Latin America rose 13.1% to €7.8 million.

For the 2017 full-year, sales remained steady compared to 2016 at €404.9 million. This included a consolidation scope effect² of €5.7 million and a €4.1 million adverse currency effect. Like-for-like, annual sales totalled €403.3 million.

On 28 March 2018, the Group will publish its annual results for 2017 and outline the trends for growth and profitability in 2018.

You can receive all financial information of Naturex free of charge by signing up at: www.naturex.fr

• Financial schedule
  

  
  
  - 2017 annual results
  28 March 2018
  
  
  

• Upcoming events
  

  
  
  - Analysts meeting (SFAF - French Society of Financial Analysts), Paris
  29 March 2018
  
  
  - AGM, Avignon
  21 June 2018
  
  
  

About Naturex

Naturex sources, manufactures and markets natural speciality ingredients for the food, health and cosmetic industries. As the Natural Maker, the company actively supports the global shift from synthetic to natural through an offer built on two main focus areas: My Natural Food and My Natural Selfcare. Naturex's portfolio includes colours, antioxidants, speciality fruits & vegetables, phytoactives, and numerous other plant-based natural ingredients, designed to create healthy, authentic and effective products.

The Group's strong commitment to quality, sustainability, continuous innovation process, and the talent of its people are at the heart of its success.

Headquartered in Avignon, France, Naturex has experienced steadily-increasing growth throughout the last 25 years. The Group employs 1,700 people worldwide and in 2017 had revenue of €405 million.

The Group is listed on Euronext Paris, Compartment B - Index: Euronext Next 150, Enternext CAC PEA-PME 150, CAC Small & Mid, CAC Small, Gaïa - Ticker: NRX - Reuters: NATU.PA - Bloomberg: NRX:FP - DR SYMBOL: NTUXY

 NATUREX, From Nature to You

• Investor contact

Carole Alexandre

Head of Investor Relations

Tel.: +33 (0)4 90 23 78 28

[email protected]

APPENDIX

FY 2017

sales
Quarterly revenue highlights

Revenue by quarter

 €m - IFRS

(Unaudited data)
2017
2016
Change (%)

 




 
 
 
Current exchange rates
Like-for-like (constant currency and structure)


1^st quarter
104.4
104.4
0.0%
-1.8%


2^nd quarter
103.1
103.6
-0.5%
-2.0%


H1
207.5
208.0
-0.3%
-1.9%


3^rd quarter*
93.8
98.4
-4.6%
-2.9%


9 months
301.3
306.4
-1.7%
-2.2%


4^th quarter**
103.6
97.9
+5.8%
+5.9%


FY

o.w consolidation scope effect
404.9

5.7
404.4

 
+0.1%

 
-0.3%

 

* o.w. a consolidation scope effect of €1.0 million

** o.w. a consolidation scope effect of €4.7 million

FY 2017

sales
Revenue by business market and geographical region

Revenue by business

 €m - IFRS

(Unaudited data)
2017
2016
Revenue mix (%)
Change (%)

 




 
 
 
 
Current exchange rates
Like-for-like (constant currency and structure)


My Natural Food

o.w consolidation scope effect*
213.4

5.5
208.0

 
52.7%

 
+2.6%

 
+1.4%

 


My Natural Selfcare

o.w consolidation scope effect**
135.1

0.2
137.5

 
33.4%

 
-1.8%

 
-1.3%

 


Other activities
56.4
58.8
13.9%
-4.0%
-3.6%


TOTAL

o.w consolidation scope effect
404.9

5.7
404.4

 
100.0%

 
+0.1%

 
-0.3%

 

* €3.8 million in sales linked to the acquisition of the Haliburton International Foods' business assets, know-how and industrial equipment and €1.6 million from Swedish Oat Fiber acquisition - See the press releases of 12 September 2017 and 14 November 2017

** €0.2 million in sales linked to Swedish Oat Fiber for the SelfCare segment

Revenue by region

 €m - IFRS

(Unaudited data)
2017
2016
Revenue mix (%)
Change (%)

 




 
 
 
 
Current exchange rates
Like-for-like (constant currency and structure)


Europe/Africa/Middle East

o.w consolidation scope effect*
140.9

1.8
147.5
34.8%
-4.5%
-4.8%


North America

o.w consolidation scope effect**
170.1

3.8
172.9
42.0%
-1.6%
-2.7%


Latin America
30.8
29.6
7.6%
+4.1%
+5.8%


Asia/Pacific
63.1
54.3
15.6%
+16.3%
+16.6%


TOTAL

o.w consolidation scope effect
404.9

5.7
404.4

 
100.0%

 
+0.1%

 
-0.3%

 

* Sales linked to the acquisition of Swedish Oat Fiber - See the press release of 14 November 2017

** Sales linked to the acquisition of Haliburton International Foods' business assets, know-how and industrial equipment - See the press release of 12 September 2017

2017sales

by quarter
Quarterly revenue highlights by business

Revenue by business

 €m - IFRS

(Unaudited data)
1^st quarter

2017
1^st quarter

2016
Revenue mix (%)
Change (%)

 




 
 
 
 
Current exchange rates
Constant exchange rates


My Natural Food
53.9
53.1
51.7%
+1.6%
+0.7%


My Natural Selfcare
36.3
37.0
34.7%
-2.1%
-4.9%


Other activities
14.2
14.3
13.6%
-0.7%
-3.1%


TOTAL
104.4
104.4
100.0%
0.0%
-1.8%

Revenue by business

 €m - IFRS

(Unaudited data)
2^nd quarter

2017
2^nd quarter

2016
Revenue mix (%)
Change (%)

 




 
 
 
 
Current exchange rates
Constant exchange rates


My Natural Food
53.2
54.8
51.6%
-2.9%
-3.9%


My Natural Selfcare
35.2
34.1
34.2%
+3.3%
+1.0%


Other activities
14.7
14.8
14.2%
-0.7%
-2.2%


TOTAL
103.1
103.6
100.0%
-0.5%
-2.0%

Revenue by business

 €m - IFRS

(Unaudited data)
3^nd quarter

2017
3^rd quarter

2016
Revenue mix (%)
Change (%)

 




 
 
 
 
Current exchange rates
Like-for-like (constant currency and structure)


My Natural Food

o.w consolidation scope effect*
50.8

1.0
51.5

 
54.2%

 
-1.3%

 
-0.1%

 


My Natural Selfcare
29.2
33.5
31.1%
-12.8%
-10.4%


Other activities
13.8
13.4
14.7%
+3.1%
+5.4%


TOTAL

o.w consolidation scope effect
93.8

1.0
98.4

 
100.0%

 
-4.6%

 
-2.9%

 

*Sales generated following the acquisition of Haliburton International Foods' business assets, know-how and industrial equipment (See the press release of 12 September 2017)

Revenue by business

 €m - IFRS

(Unaudited data)
4^nd quarter

2017
4^nd quarter

2016
Revenue mix (%)
Change (%)

 




 
 
 
 
Current exchange rates
Like-for-like (constant currency and structure)


My Natural Food

o.w consolidation scope effect*
55.5

4.5
48.6

 
53.6%

 
+14.2%

 
+10.0%

 


My Natural Selfcare

o.w consolidation scope effect**
34.4

0.2
32.9

 
33.2%

 
+4.4%

 
+9.4%

 


Other activities
13.7
16.4
13.2%
-16.3%
-13.3%


TOTAL

o.w consolidation scope effect
103.6

4.7
97.9

 
100.0%

 
+5.8%

 
+5.9%

 

* €2.8 million in sales linked to the acquisition of the Haliburton International Foods' business assets, know-how and industrial equipment and €1.6 million from Swedish Oat Fiber acquisition - See the press releases of 12 September 2017 and 14 November 2017

** €0.2 million in sales linked to Swedish Oat Fiber for the SelfCare segment

2017 sales

by quarter
Quarterly revenue by region

Revenue by region

 €m - IFRS

(Unaudited data)
1^st quarter

2017
1^st quarter

2016
Revenue mix (%)
Change (%)

 




 
 
 
 
Current exchange rates
Constant exchange rates


Europe/Africa/Middle East
34.6
39.4
33.1%
-12.3%
-11.2%


North America
46.3
45.1
44.4%
+2.7%
-0.2%


Latin America
8.0
6.3
7.6%
+25.8%
+22.0%


Asia/Pacific
15.5
13.6
14.9%
+14.5%
+9.0%


TOTAL
104.4
104.4
100.0%
0.0%
-1.8%

Revenue by region

 €m - IFRS

(Unaudited data)
2^nd quarter

2017
2^nd quarter

2016
Revenue mix (%)
Change (%)

 




 
 
 
 
Current exchange rates
Constant exchange rates


Europe/Africa/Middle East
35.3
38.4
34.2%
-8.2%
-7.2%


North America
45.1
45.8
43.7%
-1.6%
-4.6%


Latin America
6.6
7.7
6.4%
-13.8%
-15.9%


Asia/Pacific
16.1
11.7
15.6%
+37.3%
+34.1%


TOTAL
103.1
103.6
100.0%
-0.5%
-2.0%

Revenue by region

 €m - IFRS

(Unaudited data)
3^nd quarter

2017
3^nd quarter

2016
Revenue mix (%)
Change (%)






 
 
 
 
Current exchange rates
Like-for-like (constant currency and structure)


Europe/Africa/Middle East
32.8
33.6
35.0%
-2.5%
-1.4%


North America

o.w consolidation scope effect*
38.5

1.0
42.7

 
41.1%

 
-9.8%

 
-8.1%

 


Latin America
8.4
8.2
9.0%
+2.6%
+7.1%


Asia/Pacific
14.1
13.9
15.0%
+1.7%
+3.7%


TOTAL

o.w consolidation scope effect
93.8

1.0
98.4

 
100.0%

 
-4.6%

 
-2.9%

 

*Sales generated following the acquisition of Haliburton International Foods' business assets, know-how and industrial equipment (See the press release of 12 September 2017)

Revenue by region

 €m - IFRS

(Unaudited data)
4^nd quarter

2017
4^nd quarter

2016
Revenue mix (%)
Change (%)

 




 
 
 
 
Current exchange rates
Like-for-like (constant currency and structure)


Europe/Africa/Middle East

o.w consolidation scope effect*
38.2

1.8
36.1

 
36.9%

 
+5.9%

 
+1.5%

 


North America

o.w consolidation scope effect**
40.1

2.8
39.3

 
38.7%

 
+2.3%

 
+2.4%

 


Latin America
7.8
7.4
7.5%
+5.6%
+13.1%


Asia/Pacific
17.4
15.1
16.8%
+15.0%
+21.7%


TOTAL

o.w consolidation scope effect
103.6

4.7
97.9

 
100.0%

 
+5.8%

 
+5.9%

 

* Sales linked to the acquisition of Swedish Oat Fiber - See the press release of 14 November 2017

** Sales linked to the acquisition of Haliburton International Foods' business assets, know-how and industrial equipment - See the press release of 12 September 2017

¹ Consolidation scope effect in Q4 2017: €2.8 million (acquisition of Haliburton International Foods' business assets, know-how and industrial equipment) and €1.8 million (acquisition of Swedish Oat Fiber) - See press releases of 12 September 2017 and 14 November 2017

² Consolidation scope effect in 2017: €3.8 million (acquisition of Haliburton International Foods' business assets, know-how and industrial equipment) and €1.8 million (acquisition of Swedish Oat Fiber)

Source: Actusnews