Chr. Hansen delivered organic revenue growth of 7 percent (excluding carmine price effect) in the first quarter of 2012/13.
“The solid momentum in the Cultures & Enzymes Division continued with 10 percent organic growth driven by our innovative product portfolio. The Health & Nutrition Division also delivered solid organic growth of 9 percent while sales in the Natural Colors Division were soft as expected, primarily due to lower carmine prices and volumes. Our operating profit continued to grow faster than revenue and our profitability also increased with an EBIT margin of 26.7 percent compared to 24.5 percent in Q1 last year,” comments CEO Lars Frederiksen.
“Our outlook for 2012/13 remains unchanged and we expect organic revenue growth between 8-10 percent (excluding carmine price effect) and an EBIT margin above 2011/12.”
- Revenue EUR 179 million, up 7 percent compared to Q1 2011/12
- Organic revenue growth 5 percent (7 percent adjusted for lower sales prices to reflect lower raw material prices for carmine)
- EBIT EUR 48 million, up 16 percent compared to Q1 2011/12. EBIT margin 26.7 percent, up from 24.5 percent in Q1 2011/12
The outlook for 2012/13 remains unchanged compared to the announcement of 31 October 2012. Organic revenue growth, excluding effect on sales prices from change in raw material prices for carmine, is expected to be in the range of 8-10 percent while organic revenue growth, including the effect from change in raw material prices for carmine, is expected to be in the range of 7-9 percent. The EBIT margin before special items and impairments is expected to be above last year. Free cash flow before acquisitions and divestments is expected to be at the same level as in 2011/12.