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Peder Holk Nielsen, president and CEO of Novozymes, said, "The first quarter performance was in line with expectations and we expect organic sales growth of 4-6%
for the full year.
Despite adverse currency factors, our yields remain strong
.
We continue to make good progress on the important issues we focus on, including increasing our investment in new and existing customers to meet the individual needs
of our customers.
Some uncertainties remain in agriculture-related areas, including some recent geopolitical tensions
.
That said, based on current analysis, we are steadfast
in our confidence in accelerating growth in 2018 and beyond.
”
for the full year.
Despite adverse currency factors, our yields remain strong
.
We continue to make good progress on the important issues we focus on, including increasing our investment in new and existing customers to meet the individual needs
of our customers.
Some uncertainties remain in agriculture-related areas, including some recent geopolitical tensions
.
That said, based on current analysis, we are steadfast
in our confidence in accelerating growth in 2018 and beyond.
”
The food and beverage business grew by 5%.
Among them, the application of enzyme preparations in the field of baking has achieved good growth in the United States, Asia-Pacific and Latin America; The starch processing and nutrition businesses both achieved solid growth
.
Among them, the application of enzyme preparations in the field of baking has achieved good growth in the United States, Asia-Pacific and Latin America; The starch processing and nutrition businesses both achieved solid growth
.
First Quarter Highlights
· Sales increased organically by 2%.
· Home care, food and beverage, and bioenergy businesses grew
.
.
· Agriculture & Feed, Technology Grade Enzymes and Pharmaceuticals declined, mainly due to ongoing pressures in certain agricultural markets
.
.
· Emerging markets performed well, with organic growth of 6%; Developed markets were flat
with last year.
with last year.
· Strong product development: Launch of the first yeast-based solution (Innova® Drive) in the field of traditional biofuels; Alterion®, a microbial solution for direct feeding in the poultry industry, is approved by the European Union; Acceleron® B-360 ST, a biological seeding agent for maize yield enhancement, was approved in the United States and the European Union; Introducing a new class of enzymes for automatic dishwashers makes it easier to remove dried cereal.
· Strong EBIT margin was 28.
9%.
27% in the first quarter of 2017 (margin of approximately 29% excluding restructuring costs)
9%.
27% in the first quarter of 2017 (margin of approximately 29% excluding restructuring costs)
· Free cash flow prior to the acquisition was DKK 403 million
.
.
· Dividends per share are DKK 4.
5 and the dividend payout ratio is 42%.
5 and the dividend payout ratio is 42%.
· The outlook for the full year 2018 remains unchanged: sales organically increased by 4-6% (growth will be relatively stronger in the second half of the year), EBIT margin was around 28%, pre-acquisition cash flow was DKK 2.
3 to 2.
6 billion, and return on invested capital was 24-25%.
3 to 2.
6 billion, and return on invested capital was 24-25%.
About Novozymes
Novozymes is a global leader in biological solutions
.
We work hand in hand with our customers, partners and global communities to improve industrial efficiency while conserving the planet's resources and helping to build better lives
.
As the world's leading provider of enzyme and microbial technologies, our bio-innovations can improve agricultural output, manufacture renewable fuels, enable low-temperature washing, and deliver the benefits of energy-efficient production, reduced waste emissions, alternative chemicals, and more for the benefits of humanity now and in the future
.
We call it "Rethink Tomorrow.
"
Novozymes shares are traded on the NASDAQ OMX Copenhagen (ticker symbol NZYM B
).
For more details, please visit: www.
novozymes.
com or follow Novozymes' official WeChat: Novozymes Biotech Expo
.
.
We work hand in hand with our customers, partners and global communities to improve industrial efficiency while conserving the planet's resources and helping to build better lives
.
As the world's leading provider of enzyme and microbial technologies, our bio-innovations can improve agricultural output, manufacture renewable fuels, enable low-temperature washing, and deliver the benefits of energy-efficient production, reduced waste emissions, alternative chemicals, and more for the benefits of humanity now and in the future
.
We call it "Rethink Tomorrow.
"
Novozymes shares are traded on the NASDAQ OMX Copenhagen (ticker symbol NZYM B
).
For more details, please visit: www.
novozymes.
com or follow Novozymes' official WeChat: Novozymes Biotech Expo
.
