2012: Results note
27 February 2013
Following the divestment of Naturex and the full repayment of the debt Natraceutical is now fully focused in Forté Pharma after closing 2012 with a clear operating improvement
- After the positive performance of Forté Pharma’s sales in the last three quarters of 2012, Natraceutical closed the year with a turnover of 29.93 M€ compared to 29.48 M€ the previous year (+1.5%).
- The business improvement policies throughout the year allowed the company to place its profit from operations at 0.13 M€ compared to the negative result of 16.68 M€ at the end of 2011. The 2011 figure includes the negative extraordinary impact of goodwill impairment. Excluding this, adjusted profit from operations for 2011 would have stood at negative 5.33 M€, which shows the relevant recovery of the business in 2012.
- Natraceutical closed 2012 at breakeven point compared to a profit of 16.06 M€ in 2011, after posting last year an extraordinary accounting profit of 23.29 M€ from its stake in Naturex.
- In December 2012 Natraceutical completed the divestment of its stake in Naturex, which allowed the early termination of its full syndicated loan. Additionally, Natraceutical closed the year with a cash position of 16.44 M€. The cancellation of the bank debt will result in a reduction of financial costs of around 4.5 M€ in 2013.