A stronger performance from its Europe, Middle East and Asia business enabled Spanish chocolate maker Natra slow its losses in the third quarter, with higher sales helping to offset increased input costs.

The company, which had seen soft sales in the region in the first half of the year, said EMEA revenue rose 8.7% in the third quarter. That propelled group-wide sales growth of 5.2% in the three month period, offsetting a first half sales decline. Natra reported nine-month sales increased 1.2%, climbing to EUR265.4m (US$331.5m).

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

While the company revealed profitability was hit by “ongoing pressure” from raw materials costs, Natra stressed it has been able to slow its rate of decline here also.

Like other chocolate makers, Natra has witnessed a steep increase in the price of cocoa and hazelnuts, which represent 50% of the group’s total procurements. As a consequence, EBITDA in the first nine months of the year was down almost 60%, dropping to EUR6.7m from EUR16.5m in the same period of last year. The drop in third quarter EBITDA was less marked, however, dropping 9.2%.

The group racked up a nine-month net loss of EUR11.8m.

See Also:

“Despite the difficult start of the year reflected in the first half results… the company estimated a gradual recovery of the business in the second half of the year,” Natra noted. “This recovery, which already started to become apparent between the months of July to September, should result from the positive effect of the seasonality of the business for Christmas, continuous production for new customers from the factory in Canada and financial strength to meet working capital requirements.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.