Acquisitions help Natraceutical double income

By staff reporter

- Last updated on GMT

Related tags: Profit, Generally accepted accounting principles

Spanish biotech firm Natraceutical's acquisition of Obipektin and
Overseal has helped the company double its income from €26m in 2004
to €53m in 2005.

"Natraceutical has done an important effort due to the transition and the integration of Obipektin and Overseal, to head on now with those new projects in accordance with the new strategy and chase the maximum benefit of the synergies, which results we will see in this new year,"​ said Jose Vicente Pons, CEO of the Natraceutical group.

The €80m acquisition of Obipektin and Overseal from British food ingredients business Braes Group, only contributed to Natraceutical for six months, giving the company added optimism for 2006 with forecasts of over €100m.

The company reported operating profits (EBITDA) of €5m, which equated to a 12 per cent increase on the previous year.

The takeover of Obipektin and Overseal also involved extraordinary expenses of about €2m including non recurring expenses as consequence of the acquisition and the restructuring, as well as the signing of a sindicated loan to finance the operation, which has caused an increase of the financial cost of the company.

The overall message for the next year is optimistic with a 14 per cent of increase in relation to published information predicted and that an operating profit or EBITDA, of up to €16m, equal to 23 per cent over the proforma.

Pons assured shareholders that this figure was achievable thanks to the 'synergies' of the "sales team, marketing and R+D created by the merge of both companies".

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