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ISA Drags Nutreco Fish Feed Sales Under

by 5m Editor
30 April 2009, at 1:00am

GENERAL - Nutreco's fish feed sales fell 6.6 per cent this quarter by comparison with that of last year. Once again, ailing results are being attributed to the ISA crisis unfolding on Chile's salmon farms.

The revenue in Fish Feed decreased by 6.6 per cent to €189.4 million compared with Q1 2008. The volume decline is mainly related to continuing health challenges in the Chilean fish farming market. As a consequence of the ISA virus in Chile the industry had to downscale farming operations which impacted on the volumes. A volume growth is expected in other salmon farming areas such as Norway and Canada.

Feed company, Nutreco, recently announced that overall company revenue was down by seven per cent. The summary of the Q1 trading statement from Nutreco reports revenue for Q1 2009 at €1,043.9 million; a decrease of 7.0 per cent from Q1 2008. All businesses reported were in line with expectations except Compound Feed Europe, which had an operating loss in Q1 due to a weak performance in the Netherlands.

The revenue from the Meat and Other Businesses was 2.0 per cent higher – at €265.6 million in Q1 2009 compared to €260.4 million in the same period of last year – mainly related to higher poultry prices in Spain compared with the first quarter of 2008.

According to the company, half-year EBITA will be lower than in 2008 due to an operational loss in Compound Feed Europe and one-time benefits of €20 million in 2008.

Further Reading

- You can view the full report by clicking here.

5m Editor

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