Madrid, Valencia, 1st of August, 2008 - Natra, Spanish listed food company specialized in the production and commercialization of cocoa and chocolate products, has closed the first half of 2008 with consolidated sales amounting Euro 226.1mn, vs. Euro 183.9mn obtained the previous year, increasing 22.9%. EBITDA rose by 6.4%, from Euro 19.5mn to Euro 19.5mn year-to-year.
Net profit for the first six months of the year was of € 5mn, increasing by 68.1% compared to € 3mn obtained in the same period last year.
Cocoa & Chocolate
Sales grew by 48% in the first half of the year compared to the same period of 2007. More than 85% of Natra sales take place outside Spain and more than 90% are made in the European Union.
EBITDA for the Cocoa and Chocolate business increased 24% and reached € 10 million, vs. € 8mn obtained in the same period of 2007. EBITDA margin on sales in the first quarter of the year has improved with respect to the one of the first quarter of 2008 and reaches 7,1%.
The integration of Natra allcrump is being very positive and Natra expects to incorporate the Italian company Nutkao –also specialized in chocolate spreads- as planned, before the end of the year.
Continuing its growth strategy and as a consequence of the establishment of its clients in growing markets, Natra will begin its activities in Asia with a commercial office in Shanghai, aimed to supply products to consumer in this region. Moreover, as an answer to the growing demand made by retailers of products with their brands in the United Status, Natra has opened an office in California. This will allow reinforcing the coverage which Natra already gives to its clients in this country. Natra will take advantage of its existing infrastructures through Natra US, through which Natra has been selling cocoa and chocolate derivatives up until now.
For the first time, Natra has started commercial relations with its subsidiary company Natraceutical, which will supply the parent company with functional ingredients with a high content in polyphenols (antioxidants). This is a step forward towards technological innovation within cocoa and chocolate, which will enable Natra to add these ingredients to its products for the chocolate industry and for final consumers.
Natra has increased the volume of sales within the clients where it is already present, as well as the presence of the company with a higher range of products in each of the retailers it works with. Natra is present in 24 out of the 30 top retailers in Europe and almost 90% of its sales for the final consumer took place outside Spain in 2007.