Novozymes A/S
Interim report for the first half of 2012
Novozymes A/S 16.08.2012 08:00 --------------------------------------------------------------------------- Sales and earnings in 1H 2012 as expected. FY 2012 expectation for EBIT growth increased; sales growth outlook adjusted within previous ranges Sales growth in DKK was 7% (3% LCY, 3% organic) compared with the first half of 2011. EBIT grew by 12%, and the EBIT margin increased to 24.2%. The expectation for full-year 2012 EBIT growth is increased to 11-14% from 9-12%, and EBIT margin is now expected at 23-24%. The expectation for organic sales growth is adjusted within the previously announced range to 4-6%. Sales growth in LCY is now expected at 3-5% and in DKK at 7-9%. In 1H 2012: -- Sales increased by 7% in DKK and by 3% in LCY and organically vs. 1H 2011 -- Gross margin was 57.0%, an increase of 0.7 percentage point compared with 1H 2011 -- EBIT was DKK 1,354 million, up 12% on 1H 2011 -- EBIT margin was 24.2%, an improvement of 1.0 percentage point on 1H 2011 -- Net profit was DKK 1,003 million, an increase of 6% compared with 1H 2011 -- Net investments excluding acquisitions were DKK 518 million, vs. DKK 547 million in 1H 2011 -- Free cash flow before acquisitions totaled DKK 721 million, against DKK 1,001 million in 1H 2011 -- ROIC including goodwill was 20.4%, against 22.1% in 1H 2011 'First-half sales and earnings development was as expected, and we have delivered according to plan,' says Steen Riisgaard, President & CEO. 'Sales to some of the industries we serve, such as Household Care, are doing great. However, for other industries we serve - especially the U.S. biofuel industry - 2012 will be a more challenging year than previously expected. It's also clear that the global economic situation is still uncertain. As a consequence, we're adjusting our expectations for sales growth within the previously announced ranges. On the earnings side, I'm satisfied that we're able to increase the full-year outlook for EBIT.' Read the full announcement in PDF format News Source: NASDAQ OMX 16.08.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Novozymes A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010272129 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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