News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Novozymes, Inc. (NZYMb.CO) Increases 2014 Profit Outlook


8/14/2014 2:15:47 PM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

COPENHAGEN, DENMARK – August 14, 2014 - Novozymes, the world’s largest producer of industrial enzymes, today announced its results for the first half of 2014. Organically, sales grew by 8% (4% DKK, 8% LCY). Sales growth slowed down during the period as expected after a strong first quarter and due to a higher comparable level in the second quarter.

EBIT grew by 19%, and the EBIT margin increased by 3.5 percentage points to 28.1%. The higher EBIT margin was driven by a one-time positive impact of roughly 2 percentage points from The BioAg Alliance and a significant improvement in underlying earnings. Free cash flow came in strongly at DKK 3,417 million due to the positive one-time impact from The BioAg Alliance and a relatively low level of CAPEX in the period.

The full-year sales growth outlook is maintained. Full-year expectations for EBIT and net profit growth are increased to 9-11%, up from 8-10%. Expectations for ROIC, including goodwill, are adjusted to ~22%, up from 21-22%. Lastly, expectations for free cash flow are revised upward by DKK 500 million, mainly as a result of lower expectations for net investments in 2014 and a higher positive impact from The BioAg Alliance.

“It’s been a good first half for Novozymes”, says Novozymes CEO Peder Holk Nielsen. “Sales growth was in line with expectations and earnings were strong. For the full year, we maintain our outlook for sales growth, and profit is now expected to come in a little better than what we thought back in April. Looking beyond the financial performance, we’ve seen good progress in our innovation pipeline and portfolio of growth platforms in the first half of the year. In the second half, we'll continue to concentrate our efforts on advancing both to further strengthen our ability to deliver double-digit sales growth.”

Novozymes’ executive leadership team will present the results at a conference call today at 12:00 pm CET: http://www.novozymes.com/en/investor/events-presentations/Pages/conference-call.aspx

The entire earnings report can be downloaded at news.novozymes.com

About Novozymes

Novozymes is the world leader in bioinnovation. Together with customers across a broad array of industries we create tomorrow’s industrial biosolutions, improving our customers' business and the use of our planet's resources. With over 700 products used in 130 countries, Novozymes’ bioinnovations improve industrial performance and safeguard the world’s resources by offering superior and sustainable solutions for tomorrow’s ever-changing marketplace. Read more at www.novozymes.com.

MEDIA CONTACTS

Europe

Frederik Bjørndal
Mobile: +44 (0) 7976 138 265
tfbh@novozymes.com

Denmark

René Tronborg
Office: +45 44462274
Mobile: +45 30772274
retr@novozymes.com

US

Paige Donnelly
Office: +1 919 494 3209
Mobile: +1 919 218 4501
pagd@novozymes.com


China

Lian Meng
Office: +86 106 298 7888+392
Mobile: +86 136 992 31164
mexl@novozymes.com

Brazil

Henrique Pellini
Office: +55 41 36411000
Mobile: +55 41 9288-0282
hqp@novozymes.com

India

Poonam Kapila
Mobile: +91 9910822339
poka@novozymes.com

INVESTOR CONTACTS

Europe

Thomas Steenbech Bomhoff
Office: +45 4446 1226
Mobile: +45 3077 1226
tsbm@novozymes.com

US

Martin Riise
Office: +1 919 494 3483
Mobile: +1 919 649 2565
mrsn@novozymes.com


Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES