Frutarom Continues to Implement its Rapid Growt...(and their integration with Frutarom's gl...),Health

Date:11/20/2008

and their integration with Frutarom's global activity; extraction of the synergy and cross selling opportunities between Frutarom's divisions and its customers and products, both the existing ones and those added as a result of the acquisitions carried out in recent years; and the strengthening of the European currencies and the Shekel (in which most of Frutarom's sales are made) against the US dollar.

During the first nine months of 2008, Frutarom's revenues totaled US$ 374.6 M, growth of 44.1% compared to the same period in 2007 (growth of 36.4% excluding the effect of the strengthening European currencies against the US dollar). Gross profit grew by 48.5% and totaled US$ 139.8 M, while gross margin reached 37.3% compared to 36.2% during the first nine months of 2007. Operating profit leaped by 77% and totaled US$ 48.2 M and operating margin increased and reached 12.9% compared to 10.5% during the same period last year. During the first nine months of 2008, EBITDA grew at a sharp rate of 74.9% and reached US$ 63.9 M compared to US$ 36.6 M during the same period last year. EBITDA margin also improved and reached 17.1% compared to 14.1% during the same period last year. Net profit during the period totaled US$ 31.2 M compared to US$ 19.4 M during the same period last year and net margin reached 8.3% compared to 7.5%.

Earnings per share grew during the third quarter of 2008 by 70% and totaled US$ 0.17 compared to US$ 0.10 per share during the same quarter in 2007. During the first nine months of 2008, earnings per share grew at a rate of 61.8% and reached US$ 0.55 compared to US$ 0.34 during the same period last year.

The sharp increase in profit generated a significant growth in cash flow from current activities. During the third quarter of 2008, Frutarom generated cash flow from current activities in the amount of US$ 12.6 M compared to a cash flow of US$ 5.3 M during the third quarter of 2007. Duri
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SOURCE Frutarom Industries Ltd Copyright©2008 PR Newswire. All rights reserved

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