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Novozymes reports 12% EBIT growth

Novozymes reports 12% EBIT growth
Enzyme sales to the household care and animal feed industries performed well, but sales growth in bioenergy remained challenged.  

Novozymes, the world leader in bioinnovation and industrial enzymes, today reported sales growth of 6 percent in DKK for the first nine months of 2012. EBIT grew by 12 percent compared with the first nine months of 2011, increasing the EBIT margin to 24.6 percent. The expectations for full-year 2012 EBIT growth, EBIT margin and net profit growth are maintained, as is the expectation for free cash flow. The expectation for organic sales growth is adjusted within the previously announced range to 4 percent. Sales growth is now expected at 3 percent in local currencies and 7 percent in DKK. “While sales performed below our full-year expectations, it's good to see the strong earnings development in the first nine months of 2012,” says Novozymes CEO Steen Riisgaard. “Enzyme sales to the Household Care and animal feed industries performed well as anticipated, but sales growth in the bioenergy area remains challenged. As a consequence, expectations for full-year sales growth have been adjusted, whereas the outlook for earnings and cash flow is unchanged.”

Other highlights

  • Gross margin was 57.2 percent, an increase of 0.8 percentage point compared with 9M 2011
  • EBIT was DKK 2,074 million, up 12 percent on 9M 2011
  • EBIT margin was 24.6 percent, an improvement of 1.3 percentage points on 9M 2011
  • Net profit was DKK 1,523 million, an increase of 4 percent compared with 9M 2011
  • Free cash flow before acquisitions totaled DKK 1,188 million, against DKK 1,527 million in 9M 2011

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

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