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Very satisfactory annual result: 10% growth

Press release   •   Oct 21, 2015 06:02 UTC

The progress in 2014/15 was very satisfactory and with organic growth of 10%, we delivered at the upper end of our Nature’s No. 1 growth ambition. The Cultures & Enzymes Division and the Health & Nutrition Division delivered solid organic growth of 9% and 13% respectively. The performance of the Natural Colors Division improved during the year, and with organic growth of 9% for the full year, the division delivered in line with our long-term ambition. The EBIT margin before special items ended at 27.1%, unchanged from 2013/14, as a positive impact from higher sales volume and the stronger USD was offset by increased research & development expenditures related to biological plant protection and the human microbiome initiative,” says CEO Cees de Jong.

For 2015/16, we expect organic revenue growth of 8-10% and an EBIT margin before special items above the 27.1% in 2014/15.”

2014/15 in brief

2014/15 results

  • Revenue of EUR 859 million, compared to EUR 756 million in 2013/14, corresponding to organic growth of 10%. Revenue was positively impacted by changes in exchange rates, primarily by the appreciation of USD
  • EBIT before special items of EUR 233 million, compared to EUR 205 million in 2013/14. The EBIT margin before special items was 27.1%, unchanged from 2013/14
  • Income taxes of EUR 57 million, equivalent to an effective tax rate of 26%, compared to 27% in 2013/14
  • Profit for the year of EUR 163 million, compared to EUR 132 million in 2013/14
  • Free cash flow of EUR 151 million, compared to EUR 115 million in 2013/14
  • Net interest-bearing debt of EUR 488 million, or 1.7x EBITDA, compared to EUR 404 million, or 1.6x EBITDA, at 31 August 2014.

Q4 2014/15 results

  • Revenue of EUR 234 million, up 14% on Q4 2013/14, corresponding to organic growth of 11%
  • EBIT margin before special items of 31.1%, compared to 30.0% in Q4 2013/14
  • Free cash flow of EUR 86 million, compared to EUR 73 million in Q4 2013/14.


  • Interim dividend of EUR 115 million declared in July 2015
  • An ordinary dividend for 2014/15 of EUR 0.63 (DKK 4.70) per share, or a total of EUR 82 million is proposed. The ordinary dividend is equivalent to 50% of the profit for the year.

Outlook for 2015/16

  • Organic revenue growth 8-10%
  • Research & development expenditures incurred (% of revenue) 6.5-7.0%
  • EBIT margin before special items above 2014/15
  • Free cash flow before acquisitions and divestments above 2014/15

The Annual Report for 2014/15 was released today, 21 October 2015, and is available from

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.

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