Performance Solutions, such as enzymes, gut health solutions, and mycotoxin management delivered a strong performance owing to the prioritization of efficiency yield management by farmers. The strong growth in this category is supported by the innovation pipeline, which includes Bovaer®, Balancius®, ProAct360™, HiPhorius™, Mycofix® and Veramaris®.
ANH’s organic sales declined by 13% compared with the same period in the prior year, with negative pricing (-7%) and negative volumes (-6%) – both driven by weak sales of straight vitamins.
The continued unprecedented conditions in vitamins were addressed by prioritizing cash generation to reduce inventories, especially in the second half of the year. In June the company started the vitamin transformation program.
The Adjusted EBITDA was down 76% year-on-year, because of lower vitamin prices, weaker volumes and higher idle costs. Foreign exchange rates had a 2% negative impact. Adjusted EBITDA margin was down to the level of 4% which was 980bps lower than in 2022. The total vitamin effect is estimated at around €350 million.
x € million |
|
Pro forma |
|
IFRS |
|---|---|---|---|---|
Sales |
|
3,227 |
|
3,223 |
Organic sales growth (in %) |
|
(13) |
|
|
Adjusted EBITDA |
|
128 |
|
128 |
Adjusted EBITDA margin (in %) |
|
4.0 |
|
4.0 |
