Natra reports significant recovery of the cocoa and chocolate business

The Spanish cocoa and chocolate specialist Natra S.A. has reported a sales growth of 5% in each of the divisions cocoa & chocolate and Natraceutical. The turnover of Natra‘s cocoa and chocolate activity grew by 5.2% to € 89.93 m from July to September. This ­allowed the company to offset the 1.1% decline in sales in the first half and to close the first nine months of 2014 with total turnover of € 240.71 m, compared to € 237.94 m in the same period of 2013 (+1.2%).

Europe, the Middle East and Africa had been strong in the quarter, as it focused on the sale growth. Natra explains: ”Contrary to what happened in the previous two quarters, between July and September it was the EMEA region that promoted the recovery of sales in both divisions. Specifically, this region represented 82.8% of sales of the cocoa and chocolate business in the third quarter and achieved a growth of 8.7%. This was mainly driven by the entry into force of new manufacturing contracts for other food companies, as well as by the significant growth in the choco­late coatings range of the industrial division.”

EBITDA for the cocoa and chocolate business progressed from € 0.96 m at the end of June to € 6.69 m at the end of September, despite the ongoing pressure in the costs of raw ­materials. Comparing the first nine months on the year with 2013, the company saw EBITDA fell 59.5% from € 16.52 m to € 6.69 m. The management said, ”After the progressive rise of cocoa prices in 2013, in the first half of 2014 the cost of this raw material increased an additional 20%.”

www.natra.es