Solid performance in a volatile year; operating result (EBITA) up 14.7% to EUR 182 million

* Revenue up 22.9% to EUR 4.9 billion with strong results in premix and feed specialities * Spread of activities and strategic direction provides stability in challenging times * Doubling of 2006 EBITA to EUR 230 million under current circumstances expected to be met in 2010-2012 * Profit after tax from continuing operations decreases by 6.6% due to higher financing costs and tax rate * Sound balance sheet and healthy capital structure * Dividend proposal of EUR 1.43 per share; pay-out ratio 45% Key figures (EUR x million) 2008 2007 Change Revenue from continuing operations 4,943.1 4,021.1 22.9% Operating result before exceptional items and amortisation (EBITA) 182.1 158.8 14.7% Operating result from continuing operations 172.1 149.0 15.5% (EBIT) Profit after tax from continuing operations 105.8 113.3 -6.6% Basic earnings per share for continuing 3.02 3.24 -6.8% operations (EUR) Final dividend per ordinary share (EUR) 1.03 1.29 Interim dividend per ordinary share (EUR) 0.40 0.35 Dividend per ordinary share (EUR) 1.43 1.64 -12.8% A solid financial performance in 2008 Wout Dekker, Nutreco CEO: "Nutreco put in a solid performance and we increased our revenue to almost EUR 5 billion. This increase is mainly driven by high raw material prices, as well as the contribution from acquisitions in 2007 and 2008. This development is supported by our solid business model based on our strategic choices in recent years. Our premix and feed specialities business had a record performance in 2008 due to a successful integration of the acquired BASF premix businesses, excellent raw material positions and organic growth in feed specialities. Our fish feed business is temporarily impacted by a lower demand for fish feed in Chile. Our customers, the Chilean fish farming companies had to downscale their operations, as a consequence of the ISA virus. This impact is expected to continue in 2009. The Spanish meat business reported disappointing results due to high raw material prices which could not be fully passed on to our customers and a shift to cheaper products by consumers due to the economic crisis in Spain." From global food crisis to global recession fears "2008 was a turbulent year for more than one reason. We began the year with shortages of raw materials. The raw materials prices were high and rose due to the demand from emerging markets as well as from the increased demand from the bio-fuel industry. Mid 2008 we faced unprecedented volatility and down turn in commodity prices." EBITA of EUR 230 million remains the primary medium term financial target "Nutreco stays fully committed to strengthen its animal nutrition and fish feed business by organic growth and acquisitions. Nutreco will especially focus on growth in feed additives. Due to our strong balance sheet and market positions we are well placed for today's challenging times. Doubling 2006 EBITA to EUR 230 million remains the primary medium term financial target. Due to the uncertainties in the global economy we are prudent in the usage of our financial room. This could temporarily slow down our speed in acquiring new companies. There are also more uncertainties related to organic growth. Given the current circumstances we have extended the timeframe for reaching the EBITA target of EUR 230 million to 2010-2012." Knowledge and technology are crucial for sustainable food security "Innovation, backed by science and technology is the key for future food security. Due to the increasing feed-to-food demand and the increasingly complex and volatile raw material market, nutritional know-how, alternative ingredients and sustainable feed products have become crucial. Feed additives such as enzymes, anti-oxidants and organic acids can support the use of co-products from the food and bio-fuel industry in animal nutrition even further, providing greater feed efficiencies, better animal health and less impact on the environment. This dynamic environment requires high level expertise in raw materials, feed formulation and feed-to-food safety. With our experience, knowledge and innovative capabilities we are well positioned to capitalise on this." * * * * * Nutreco Nutreco is an international animal nutrition and fish feed company that seeks to create added value in major markets through its knowledge of the food production chains, in which it has a selective downstream presence. Nutreco's business groups, each comprising several business units, have over 100 production and processing plants in more than 30 countries and about 9,300 employees. Nutreco generated revenue of EUR 4,943.1 million in 2008. Nutreco is quoted on the Official Market of Euronext Amsterdam and is included in the Amsterdam Midkap Index and the Euronext 150 Index. For more information: Jurgen Pullens, Director Investor Relations and Corporate Communications, Nutreco Telephone: +31 33 422 6134 Mobile: +31 6 5159 9483 E-mail: This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.