Chr Hansen notches 8% organic growth

Chr Hansen notches 8% organic growth

After solid growth in the fourth quarter, Chr. Hansen announces strong full-year results that match the expectations for the year.

“Chr. Hansen continues to deliver solid growth and strong margins,” said CEO Cees de Jong. In 2013–2014, organic growth was 8 percent, while the EBIT margin before special items ended at 27.1 percent. The Cultures & Enzymes Division and the Health & Nutrition Division delivered solid organic growth of 8 percent and 15 percent respectively, while the Natural Colors Division delivered organic growth of 2 percent excluding carmine price effect.

"The implementation of our Nature’s No. 1 strategy saw good progress during 2013–2014 and we will take this further in 2015–2015, with increasing investment in our new strategic initiatives for biological plant protection and the establishment of a dedicated sales and application organization in the Natural Colors Division.”

2013–2014 in brief:

  • Revenue EUR 756 million, compared to EUR 738 million in 2012–2013
  • Organic growth 8 percent
  • EBIT before special items and impairments EUR 205 million, compared to EUR 201 million in 2012–2013
  • EBIT margin before special items and impairments 27.1 percent, compared to 27.2 percent in 2012–2013. Negative impact of 0.9 percentage point from lower level of capitalization of development expenditures

Fourth quarter 2013–2014 results:

  • Revenue EUR 205 million, up 6 percent on Q4 2012–2013
  • Organic growth 8 percent
  • EBIT margin before special items 30.0 percent, compared to 30.7 percent in Q4 2012–2013


Outlook for 2014–2015
For 2014–2015 we expect organic revenue growth of 7 to 9 percent and an EBIT margin before special items is expected to be above 26.5 percent. Research and development expenditures incurred (percent of revenue): 7 to 8 percent

Free cash flow before acquisitions and divestments: above EUR 130 million

 

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