Company earnings (EBITA) before exceptional items was €266.4 million – a rise of 3.9 per cent higher than last year, when it was €256.3 million,
Animal Nutrition EBITA increased by 12.0 per cent to €125.0 million compared to €111.6 million in 2013, mainly as a result of good performances in mature markets and a continued focus on higher value-added nutritional solutions.
The EBITA margin improved to 6.8 per cent compared to 6.2 per cent in 2013.
Fish Feed EBITA increased by 2.8 per cent to €134.3 million compared to € 130.6 million last year, mainly driven by the contribution of the operating companies in Ecuador and Egypt which were acquired in 2013. The EBITA margin decreased slightly to 6.3 per cent from 6.5 per cent in 2013.
Compound Feed & Meat Iberia EBITA of €34.9 million was 14.0 per cent lower than last year, when it was €40.6 million, mainly because of lower meat prices in the second half of the year.
The company said that acquisitions in Nigeria and Brazil and capital investments in new plants in Asia and Africa will strengthen Nutreco's presence in third countries with growing economies.
Knut Nesse, CEO Nutreco: "The year 2014 contained several important developments for Nutreco.
“We achieved higher financial results, in line with our expectations. We developed innovative products for our customers and expanded our global product portfolio.
“We made organisational improvements to enhance our leadership position in animal nutrition and fish feed and invested in our global people and talent management programme.
“Finally, our shareholders received a compelling cash offer by SHV for their Nutreco shares, an offer that is in the best interests of all our stakeholders including our shareholders and therefore recommended by our Boards.
“The EBITA result in 2014 of €266.4 million was 3.9 per cent better than last year. Results improved in our Animal Nutrition segment, as well as our Fish Feed segment, despite challenges in certain markets and adverse foreign currency impacts. Our “Compound Feed & Meat Iberia segment had to cope with lower meat prices in the second half of the year which has impacted those results.
“The developments in 2014 make me even more convinced that Nutreco has the right strategy and the right people in place to fulfil its mission of 'Feeding the Future'."