With organic growth of 9% in the first nine months of the financial year 2012/13 Chr. Hansen delivers a solid interim result“.
Chr. Hansen delivered organic growth of 9% excluding carmine price effect in the first nine months of 2012/13. In Q3 the organic growth excluding carmine price effect was 8%. The Cultures & Enzymes Division realized 7% growth in line with the long term organic growth expectations for the division. Both the Health & Nutrition Division and the Natural Colors Division delivered double digit growth. For the full year 2012/13 we expect organic growth excluding carmine price effect of 8-9% (previously 8-10%),” says CEO Cees de Jong.
“Operating profit (EBIT) margin before impairments was at 25.9% slightly below last year (26.2%) and for the full year 2012/13 we expect an EBIT margin before special items and impairments around 27% (previously above last year).”
- Highlights, first nine months of 2012/13
- Revenue of EUR 545 million, up 6% compared to the first nine months of 2011/12
- Organic growth of 6% (9% excluding carmine price effect)
- EBIT of EUR 133 million, down 1% compared to the first nine months of 2011/12. EBIT margin of 24.4% compared to 26.2% last year. The EBIT margin before impairments reached 25.9%
- Q3 2012/13 revenue was EUR 192 million, up 6% compared to Q3 last year. Organic growth was 7% (8% excluding carmine price effect). EBIT margin of 27.6% compared to 28.5% in Q3 last year.
Adjusted outlook, full year 2012/13
Expectations to organic growth have been narrowed. Organic growth, excluding the carmine price effect, is expected to be in the range of 8-9% (previously 8-10%) while organic growth, including the carmine price effect, is expected to be in the range of 6-7% (previously 7-9%). EBIT margin before special items and impairments is now expected to be around 27% (previously above last year (27.2%)).
Please see the interim report for further details.
Chr. Hansen is a global bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. The products include cultures, enzymes, probiotics and natural colors, and all solutions are based on strong research and development competencies coupled with significant technology investments. Revenue in the 2013/14 financial year was EUR 756 million. The company holds a leading market position in all its divisions: Cultures & Enzymes, Health & Nutrition and Natural Colors. It has more than 2,500 dedicated employees in over 30 countries and main production facilities in Denmark, France, USA and Germany. Chr. Hansen was founded in 1874 and is listed on NASDAQ OMX Copenhagen.