Frutarom has seen sales rise by 29.3% in the past quarter to US$218.1 million, with Q2 EBITDA rising to $43.4 million. Net income was up 44.5% to $25.5 million. All indices were new highs for the company.
“Our record breaking results in the second quarter and first half of 2014 reflect continued success in implementing our rapid and profitable growth strategy – a combination of profitable internal growth at a higher rate than the growth rates for markets in which we operate and of acquisitions,” said Ori Yehudai, president and CEO of Frutarom. “The contribution from these acquisitions, the improvement in the product mix, and steps we are taking to optimize our resources have propelled Frutarom towards achieving another quantum leap in its competitive standing as a leading global player.”
"The merging of the eight operations we acquired in 2011 and 2012 was a success and, just as planned, they contributed and will continue to contribute to both growing sales and improved profits and margins. Our integration of the five acquisitions carried out at the end of 2013 and the beginning of 2014 is proceeding on target and these are already contributing and will keep contributing to continued growth in Frutarom's sales and profits this year as well as in the coming years. We are continuing our efforts towards capitalizing on the many cross-selling opportunities stemming from our acquisitions, to exploit to the fullest the many technological capabilities we have gained through them, and to realize the benefits and savings arising from the consolidation of our R&D, sales, marketing, supply chain, operations, and purchasing systems.”
"We are continuing to focus on expanding our activities in emerging markets where growth rates are high and exploiting the plentiful business opportunities available there. In keeping with our objectives we are also steadily broadening our presence in the American market where we continue to grow both internally and with the support of our two latest acquisitions which will also help reinforce our business position in the world's biggest market for taste solutions.”
"We expect the continued successful integration of acquisitions we've made in recent years, which only part of the synergetic potential they hold has yet been tapped, together with continuing to achieve our strategic objectives including improving the mix of products, with a focus on natural products combining taste and health, geographic expansion in emerging markets and in the United States, and the actions we are taking to optimize the resources at our disposal, which include building a global purchasing platform, will lead to 2014 becoming another record setting year for Frutarom.”
"Reaching these strategic goals together with our excellent pipeline for more strategic synergetic acquisitions will allow Frutarom to continue its profitable growth drive in the coming years, even beyond our target of one billion dollars in sales, while continuing to create top value for our shareholders”.
