BioFuels Journal

Copenhagen, Denmark — August 6, 2015 — Novozymes, the world’s largest producer of industrial enzymes, today announced its first results for the first half of 2015.

Mb and by 15% in DKK compared with 1H 2014. EBIT grew by 12%, and the EBIT margin was 27.2%.

Adjusting for the one-time impact from The BioAg Alliance in Q1 2014, EBIT grew by ~20%, and the EBIT margin expanded by ~1 percentage point compared with 1H 2014.

The EBIT margin improvement was mainly due to currencies and operational efficiencies.

Net profit grew by 8%, and free cash flow before acquisitions came in at DKK 1,616 million.

The 2015 outlook for organic sales growth is revised to 4-7% (7-9% at previous guidance).

Sales in DKK are now expected to increase by 13-16% (16-18% at previous guidance).

The expectation for EBIT margin is increased to 27-28% (~27% at previous guidance).

The expectations for EBIT growth, net profit growth, cash flow and ROIC are unchanged.

Peder Holk Nielsen, President and CEO of Novozymes, comments:

“First-half earnings have been very satisfactory, but we need to increase growth.

"Some customers in Household Care and Bioenergy are challenged by volatile markets, creating short-term headwinds for us until we have fully adapted.

"Good developments in other areas such as Agriculture & Feed and Food & Beverages balance things out but don’t make up for the headwinds.

"We therefore reduce our sales growth expectations for the full year.

"We maintain our full-year profit outlook, as we see improved productivity and operational efficiencies leading to a higher EBIT margin.”

Read the full report here.

For more information, please contact Martin Riise at 919-649-2565 or [email protected]

See Related Websites/Articles:

• Novozymes
• Full Report

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