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Update on aspartame sales trends for the first half of 2005.
The best way to determine what is happening with the sale of the slow
poison, aspartame, is to review documents filed with the U.S.
Securities and Exchange Commission (SEC). The two main U.S. companies
that sell aspartame are Merisant (formerly Equal) and J.W. Childs'
NutraSweet (formerly owned by Monsanto. Only Merisant files
financial documents with the SEC.
Occasionally, there are press releases or "surveys" claiming a large
increase or explosion in the sales or popularity of aspartame. These
articles and surveys are simply part of a PR campaign and the numbers
can be pulled out of a hat without any serious consequences. The real
numbers can be seen in audited documents sent to the SEC. There are
significant legal consequences if a company and its auditor were to
fabricate numbers submitted to the SEC.
Before we get to the sales figures for the first half of 2005, let us
review the results for Merisant in 2004 (as compared to 2003):
6 percent reduction
in gross profit.
$5.2 million dollar
net loss.
Sales in North
America decreased by 15%.
Gross U.S. dollars
revenue in Europe/Africa increased due primarily to the increased value
of the Euro (European currency).
Total Debt went down
from $460.1 million to $439.9 in the last few months of 2004. On the
other hand, their Cash has gone down $4 million, Working capital has
gone down ~$20 million, Total Assets have gone down ~$17 million.
Here are the highlights for the performance of the first 6 months of
2005 as compared to the first 6 months of 2004(*):
Overall sales went
down 7.6% ($12.8 million).
Net loss so far for
2005 is $3.0 million (despite $4.8 million additional revenue due to
favorable European currency exchange rates). If the next 6 month
produce an equal $3.0 million net loss, that will amount to a 15%
increase in Net dollars lost in 2005.
For the first six
months of 2005: Total debt increased $300,000. Assets decreased $24
million. Working capital decreased $6.0 million. Cash increased
$600,000.
Net sales per
location comparing first six months of 2004 to first six months of 2005:
North America:
decrease in net sales 18% ($12.2 million). (A 29.5% decrease in North
America since the first six month of 2003.)
Europe/Africa:
increase in net sales by 6% ($4.1 million) primarily due to $4.8
million in revenue for Euro/dollar currency exchange. Without that
increased revenue due to favorable currency exchange, Europe/Africa net
sales would be down slightly. Lowered sales figures in: Italy, Greece,
Sweden, Switzerland. Increased sales figures in: U.K., South Africa,
Middle East. (Note: France and the U.K. are the two countries in Europe
where Merisant is most successful selling the slow poison, aspartame.)
Latin America:
decrease in net sales 17% ($3.3 million).
Asia/Pacific:
decrease in net sales 12% ($1.4 million).
There are several
opportunities for Merisant to get out of the business of selling was
has proven to be a slow poison (aspartame ==> formaldehyde +
excitotoxin) to the general public. There are numerous new and healthy
products they could get in on to make money, or they can continue to
lose money on aspartame.
