Two leading European ingredients suppliers have bucked hard economic times to post strong results for 2012, with French botanical extracts specialist, Naturex, and Finish agriculture, ingredients and brand owner, Raisio, talking up aggressive acquisition policies in their ongoing success.
Naturex 2012 revenues fell just €177 short of €300m, an 18.1% jump on 2011 in a year that Naturex acquired four companies – Burgundy in France and Spain; Pektowin in Poland; Valentine in India and DBS in the US.
It also established a krill omega-3 joint venture with Aker BioMarine in the US.
Naturex had not released profit figures this morning. The 20-year-old company had operating income of €28.5m in 2011.
Emerging market growth – especially in the Americas - delivered big gains with 30.4% growth there to €120.892m while Europe and Africa grew 11.1% to €142.291m and the Asia-Pacific expanded by 11.6% to €36.640m.
Food and Nutrition accounted for 63% of revenues at €188.828m (up 12.2%) while Nutrition and Health improved 29.7% to €92.295m. Personal Care grew 48.1% to €4.797m. Toll manufacturing increased 4.6% to €13.903m.
In Nutrition and Health, the company said it had an, “increased focus on concepts providing differentiation based on innovative extracts, notably through the NATactiv and NATlife ranges…”
Naturex chairman and CEO, Thierry Lambert said: "Naturex once again performed remarkably well in 2012 despite the particularly adverse effects of an economic slowdown in Europe."
"On the basis of macroeconomic trends in 2013 comparable to those of 2012, we expect more even growth momentum across the different regions, notably in response to growing contributions from acquisitions and a more targeted commercial and marketing approach to our customers.”
In 2012 Raisio turned over €584.1m compared to €552.6m in 2011 – up 5.7% - with the company making making good gains in feed and agricultural ingredients, although its Benecol stanol ingredients cholesterol lowering business dropped slightly from €45.7m to €45m.
EBITDA profit was €52.2m compared to €48.8m in 2011.
The Benecol brand itself that includes margarines and dairy drinks is worth considerably more than that, although Raisio licenses the brand out in most European countries as it does with McNeil Nutritionals in the UK.
A spokesperson said the company had taken over branding rights of Benecol margarine end-products in Poland and the home market of Finland. It had also won FDA GRAS approval in the US.
CEO Matti Rihko spoke of acquisitions in saying, “During Raisio’s growth phase, we have carried out four acquisitions, the last two in Central Europe in 2012.”
“All acquisitions have rapidly proven to be profitable also in practice and the acquired companies have been systematically integrated into the Raisio Group. We have worked with determination and managed to buy good companies at a good price”
“At the moment, all the acquired companies are in better shape than at the time of acquisition and Raisio has grown to become a truly global company with a foothold in the Nordic Countries, the UK, continental and Eastern Europe.”