Clermont-Ferrand, 28 July 2022 – (FR0004177046 METEX), METEX, a leader in industrial fermentation for the production of natural ingredients used in the animal nutrition, cosmetics and biopolymer markets, published its second-quarter 2022 revenue today.
Over the period from April 1 to June 30, the Group achieved consolidated revenue of €62.2 million, i.e. a total of €129.2 million for the first half of 2022 as a whole.
METEX NØØVISTAGO: cyclical factors affecting sales volumes in animal nutrition, with an exceptionally low June
In addition to the impact of the war in Ukraine on the profitability of livestock in Europe, which suffered directly from the rise in raw material costs, two cyclical factors affected the poultry and pork sectors in Q2, which is down 8% compared to the 1st quarter:
These developments had a direct impact on the sales volumes of amino acids, which varied significantly from month to month during the quarter. Thus, the Group’s orders in amino acids, averaged in April as a continuation of Q1, were then followed by a satisfactory May before falling sharply in June, contributing to the recent change in the Group’s annual financial targets.
This overall drop in sales led to an increase in inventories of finished products over the period, with Amiens’s production tool continuing to operate nominally throughout the half-year.
METEX NØØVISTA: a 30% increase in revenue
In the cosmetics and consumer care markets, the 30% increase in METEX’s revenue from Q1 to Q2 2022 was in line with the Carling plant ramp-up plan. At the end of June, the unit had reached 60% of its nominal capacity.
A gradual improvement in sales expected in the second half of the year
In the animal nutrition market, sales are expected to pick up slightly in H2 2022, including a gradual recovery in the number of animals in poultry farms, and the ongoing normalisation of grain prices relative to soybean prices, which favours the use of amino acids for animal feed.
For markets addressed by the PDO:
First expected effects of the transformation plan launched in H1
In animal nutrition, the product range expanded over the half-year, with:
In cosmetics, several milestones were reached in preparation for the investment decision on the Glycolic Acid (GA) with:
– END –
30 September 2022 after market close – H1 2022 results
08 November 2022 after market close – Q3 2022 revenue
About METabolic EXplorer – www.metabolic-explorer.com
Using renewable raw materials, the company develops and industrialises innovative and competitive industrial fermentation processes as alternative to petrochemical processes to meet consumers’ new societal expectations and the objectives of the energy transition. Its functional ingredients of natural origin are used in the formulation of cosmetic products, nutrition-animal health or as intermediates for the synthesis of biomaterials.
The METEX NØØVISTA production unit, located in Carling (Moselle), allows the METEX Group to bring 1.3 propanediol (PDO) and butyric acid (BA) on the market.
The acquisition of AANE, which has become METEX NØØVISTAGO, the leading European producer of amino acids for animal nutrition, enables the METEX Group to realize its ambition to become one of the world market leaders in functional ingredients produced by fermentation.
Based at the Clermont Limagne technology park, near Clermont-Ferrand, METabolic EXplorer is listed on Euronext in Paris (Compartment B, METEX) and is included in the CAC Small Index.
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