Natra S.A.: Company Profile and SWOT Analysis by ICDResearch

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									Natra S.A.

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Natra S.A.                                                               Financial Snapshot

                                                                         Operating Performance
Fast Facts
                                   Av de Aragon 30-5 planta, Valencia,   The company reported revenue of US$455.64 million
Headquarters Address
                                   46021,Spain                           during the fiscal year 2010 (2010). The company's
                                                                         revenue grew at a CAGR of 5.23% during 2006–
Telephone                          + 34 96 3933265
                                                                         2010, with an annual decline of -22.59% over 2009. In
                                                                         2010, the company recorded an operating margin of -
Fax                                + 34 96 1920988                       4.90%, as against -8.62% in <2009.

Website                            www.natra.es
                                                                         Revenue and Margins
Ticker Symbol, Stock Exchange      NAT, Mercado Continuo Espana

Number of Employees                1,307

Fiscal Year End                    December

Revenue (in US$ million)           455.64

Revenue (in EUR million)           341.73




SWOT Analysis                                                            Return on Equity

Strengths                          Weaknesses                            The company recorded a return on equity (ROE) of -
                                                                         31.12% for 2010, as compared to its peers, Ebro
                                   Below Par Performance Vis-à-vis the   Puleva, S.A. (Ticker: EVA), Chocoladefabriken Lindt
Strong Liquidity Position
                                   Peers                                 & Spruengli AG (Ticker: LISN) and SOS Corporacion
                                                                         Alimentaria SA (Ticker: SOS), which recorded ROEs
Wide geographical presence         Increased Debt Obligations            of 24.41%, 14.46% and -6.08% respectively. The
                                                                         company reported a net profit margin of -4.90% in
Wide product portfolio                                                   2010.


Opportunities                      Threats                               Return on Equity

Growing Confectionery Market       Government Regulations

Growing Demand for Private Label
                                   Increasing Raw Material Prices
Products

Recovering Economy




                                                                         Liquidity Position

                                                                         The company reported a current ratio of 0.43 in 2010,
                                                                         as compared to its peers, Ebro Puleva, S.A.,
                                                                         Chocoladefabriken Lindt & Spruengli AG and SOS
                                                                         Corporacion Alimentaria SA, which recorded current
                                                                         ratios of 1.93, 2.60 and 2.26 respectively. As of
                                                                         December 2010, the company recorded cash and
                                                                         short-term investments of worth US$9.38 million,
                                                                         against zero current debt. The company reported a
                                                                         debt to equity ratio of 3.55 in 2010 as compared to its
                                                                         peers, Ebro Puleva, S.A., Chocoladefabriken Lindt &
                                                                         Spruengli AG and SOS Corporacion Alimentaria SA,
                                                                         which recorded debt to equity ratios of 0.36, 0.01 and
                                                                         1.19 respectively.




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Natra S.A. - SWOT Profile                                                                                        Page 1
Natra S.A.

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TABLE OF CONTENTS

1     Business Analysis ................................................................................................................................... 5
    1.1       Company Overview ................................................................................................................................................5
    1.2       Business Description ..............................................................................................................................................5
    1.3       Major Products and Services .................................................................................................................................6
2     Analysis of Key Performance Indicators ............................................................................................... 7
    2.1       Five Year Snapshot: Overview of Financial and Operational Performance Indicators ..........................................7
    2.2       Key Financial Performance Indicators .................................................................................................................10
      2.2.1       Revenue and Operating Profit .........................................................................................................................10
      2.2.2       Asset, Liabilities and Capex .............................................................................................................................11
      2.2.3       Net Debt vs. Gearing Ratio ..............................................................................................................................12
      2.2.4       Operational Efficiency ......................................................................................................................................13
      2.2.5       Solvency ..........................................................................................................................................................14
    2.3       Competitive Benchmarking ..................................................................................................................................15
      2.3.1       Efficiency ..........................................................................................................................................................15
      2.3.2       Capital Expenditure ..........................................................................................................................................16
      2.3.3       Turnover – Inventory and Asset .......................................................................................................................17
      2.3.4       Liquidity ...................................................................................................................................................
								
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