Turnover for first half 2003: €331.4 million businness impacted by a difficult market - 31/07
The Evialis group posted turnover of €331.4 million in the first half of 2003 compared with €384.4 million in the same period the previous year, a decrease of 13.8%.
Turnover that reflects an unsettled market environment
The Evialis group posted turnover of €331.4 million in the first half of 2003 compared with €384.4 million in the same period the previous year, a decrease of 13.8%.
The fall in turnover reflects a drop of approximately €7 million in prices of raw materials for goods produced in France and a negative currency impact of €15.4 million, due mainly to depreciation of the Brazilian real.
At constant exchange rates, turnover contracted by 9.8% to €346.9 million.
In France, business was severely impacted by persistently weak pork and poultry markets. On the dairy cow market, after a first quarter affected by a strong "quota effect", demand for feed remained disappointing in the second quarter since the start of the dairying season was slower than expected. Sales of complete feed fell by around 11%. The Evialis group has also suffered delays in the implementation of its restructuring and reorganisation programmes.
Internationally, the turnover figure for the complete feed business can be mainly attributed to persistent difficulties on the Brazilian and Polish markets.
Sharp decline in operating profit for first-half 2003
In the light of the decline in business on the group's main markets, operating profit for first-half 2003 will be sharply down on the same period in 2002.