The first half of 2010/11 shows strong growth for Chr. Hansen. This leads to an upgrade of expectations to the organic revenue growth from 11-13% to 12-14%.
"The first half of the year has shown the strength of Chr. Hansen with revenue growth of 23%, corresponding to 17% organic growth. All three divisions contributed to the result. We continue to see a strong volume growth for our Colors & Blends Division due to an increasing demand for natural colors globally. We also experience a good momentum in dairy cultures for yoghurt and cheese and for our products for human and animal health," says Lars Frederiksen, CEO.
- Revenue in the first half 2010/11 amounted to EUR 315 million – up 23%
- Organic revenue growth of 17%
- Operating profit (EBIT) before special items up by 23% to EUR 71 million
- Q2 revenue increased by 24% corresponding to organic revenue growth of 19%
"Not only the divisions but also all of our four regions came out positive in the first half of the year. We saw the strongest organic growth of 24% in Asia Pacific, Africa and Middle East (APMEA) but also Europe - our largest and most mature region - showed organic growth of 18%," Lars Frederiksen continues.
As a consequence of the strong evolution of our business, particularly driven by a global conversion from synthetic to natural colors, the outlook for the financial year 2010/11 is revised upwards.
- Revenue for 2010/11 is now expected to grow organically by 12-14% compared to 11-13% in the announcement of January 12 and further to the original announcement of 2 November 2010 of 8-10%
- EBIT margin before special items is expected to be at or above 25%, however pressure on group margins from a changed business mix has increased
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.