The company, which if focused on the supply of plant-based ingredients in three core areas - food, nutrition and personal care - reported full year organic sales growth up 12.3 per cent to €253.6m, which represented an increase as a like-for-like figure.
The increased revenues were driven by an increased range of products and increased revenues in all geographic areas, particularly in the emerging markets, where the company has been more focused on recently.
Solid performance in tough economic conditions
Jacques Dikansky, president and CEO and founder of Naturex, referred to the company’s solid performance despite difficult economic conditions, and underlined the growing importance of emerging markets.
"In an economic situation which is starting to improve, we are moving through 2012 with confidence, and our main priorities are on the one hand to quickly incorporate our latest acquisitions in order to create synergies within the group, and on the other hand, finalise our acquisition programme in order to generate additional growth, in a sustainable and profitable way."
In October last year the company increased its available capital by €48.8m, which allowed it to acquire Burgundy Botanical Extracts, a move that was driven by the company’s desire to increase its footing in the cosmetics and personal care arena.
Burgundy is a manufacturer and supplier of plant extracts for the nutraceutical, pharmaceutical and cosmetics industries, and Naturex believes the deal will strengthen its industrial base and capacities to meet customer needs by developing its expertise in these markets.
Burgundy acquisition helps boost sales growth
The company said that with the incorporation of Burgundy into its fourth quarter results for 2011, the increased revenue was one of the main driving forces in the 12.0 per cent growth its full year revenue.
But the acquisition also led to an increase in costs for the full year, which was added to by some restructuring costs and the re-evaluation of employee pay benefits in Switzerland meant and ultimately meant that operating margins fell slightly, down from 12.1 per cent in 2010, to 11.9 per cent in 2011.
Meanwhile net income for the full year came in at €15.6m, a figure that was impacted by an €8.3m tax expense. However, profits were still up on the figure for 2010, when net income was €14.8m against tax expense of €6.2m.
Income growth attributed towas increased synergies derived from all three of its principal market categories: food and beverage, health and nutrition and personal care.