First half-year marked by surge in raw material prices

Turnover much affected by raw material prices Turnover increased by 11% to €350.4 MChanges to the scope of consolidation contributed €11.7M. This results from two acquisitions which took place in the Premix sector : the Russian company Rossovit and the business of Nutreco in France. On a like-for-like basis, turnover amounted to €342.2 M, an increase of 8.3%. This progression reflects the significant price rises across the raw materials spectrum, and especially concerning cereals (over the past year increases have been : corn + 43%, wheat + 46%, soy + 20%), but also the good results from the “ Nutrition International” division, where volumes increased by 11% over the half-year. Exchange losses, mainly relating to South Africa and Vietnam negatively impacted on turnover by €3.5 M.