- A 10.8 percent increase in revenue compared to 2011
- Progress on globally branded specialty products in Animal Nutrition and innovative fish feed solutions
- Completion of new plants in Brazil and Russia and acquisitions in Brazil and Ecuador are strengthening the Nutreco presence in growth geographies
CEO of Nutreco, Knut Nesse, said, "2012 was a record year for Nutreco. In challenging economic times, we have continued to support our customers through innovative and sustainable feed solutions that contribute to their productivity and profitability. I'm pleased that we realized the strongest operational results in our growth segments Fish Feed and Premix & Feed Specialties.
"We made significant progress in the first year of our strategy 'Ambition 2016 - driving sustainable growth.' In Animal Nutrition, this included the strengthening of our presence in Brazil, a new production plant in Russia, the establishment of two Application and Solution Centres and a clear focus on global branded products in feed additives, young animal feed and animal health. In Fish Feed, we reached agreement to acquire 75 percent of the leading shrimp and tilapia feed producer in Ecuador, which takes us into a global top three position in shrimp feed. This acquisition fully supports our strategy to expand our fish feed business in growth geographies and non-salmonid species whilst maintaining our global leading position in salmon feed. Innovation remains central to our strategy and we have gradually increased our annual research and development budget to €25 million to support the growing need for more sustainable high added value nutritional solutions.
"Our Ambition 2016 provides a clear roadmap for achieving our objectives. In order to have adequate financing to execute Ambition 2016, Nutreco issued a US$250 million private placement in July, and in September we successfully amended our €500 million revolving credit facility with extended maturity from 2014 to 2017 and improved conditions. The progress we made in 2012 and our strategic roadmap for the coming years leave us well placed to achieve our EBITA target of €400 million in 2016."
Other highlights include:
"We made significant progress in the first year of our strategy 'Ambition 2016 - driving sustainable growth.' In Animal Nutrition, this included the strengthening of our presence in Brazil, a new production plant in Russia, the establishment of two Application and Solution Centres and a clear focus on global branded products in feed additives, young animal feed and animal health. In Fish Feed, we reached agreement to acquire 75 percent of the leading shrimp and tilapia feed producer in Ecuador, which takes us into a global top three position in shrimp feed. This acquisition fully supports our strategy to expand our fish feed business in growth geographies and non-salmonid species whilst maintaining our global leading position in salmon feed. Innovation remains central to our strategy and we have gradually increased our annual research and development budget to €25 million to support the growing need for more sustainable high added value nutritional solutions.
"Our Ambition 2016 provides a clear roadmap for achieving our objectives. In order to have adequate financing to execute Ambition 2016, Nutreco issued a US$250 million private placement in July, and in September we successfully amended our €500 million revolving credit facility with extended maturity from 2014 to 2017 and improved conditions. The progress we made in 2012 and our strategic roadmap for the coming years leave us well placed to achieve our EBITA target of €400 million in 2016."
Other highlights include:
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