Nutreco’s 3Q revenues are up overall compared to 2012, despite a drop in animal nutrition revenue, according to the latest statement from the company.
Overall revenues for 3Q totaled EUR 1.5 billion (USD 2 billion), which is an increase of 0.7 percent over 3Q 2012.
Animal nutrition revenue dropped by 7.1 percent to EUR 794 million (USD 1.1 billion). The company blamed the drop on “lower volumes in compound feed and an adverse foreign currency impact.”
Fish feed, however, was up 11.4 percent over 3Q 2012, totaling EUR 696 million (USD 950 million). The company said higher volumes and price effects covered the foreign currency impacts.
"For 2013 we expect to maintain our full year EBITA margin above 7 percent in our growth segment Premix & Feed Specialties and we expect to improve our results in Meat & Other which will compensate for lower results in our Animal Nutrition businesses in Canada and Spain,” said CEO Knut Nesse.
