Navigation Links
Novozymes Reports Strong 2008 Results

BAGSVAERD, Denmark, January 22 /PRNewswire/ -- Leading biotechnology company Novozymes reports 13% sales growth in 2008. Earnings were also very satisfactory. Growth outlook for 2009 of 8-13% in DKK in an uncertain market. Strong long-term trends lead to new, increased targets and higher investments to support higher future growth level.

    - 2008 sales up by 13% in local currencies (LCY), 10% in DKK, ending at
    DKK 8,146m
    - Sales growth of 5% in LCY and 10% in DKK in the fourth quarter
    - Operating profit of DKK 1,504m, a 7% increase

    (Logo: )

"2008 was a strong year for Novozymes. I'm very pleased with our performance," says Steen Riisgaard, President and CEO. "Lower growth in the fourth quarter may point to a slowdown going into 2009. But further ahead there are favorable trends and opportunities for our business, so we have upped our level of ambition and increased our long-term targets."

Enzymes for fuel ethanol production were the strongest 2008 growth contributor, outperforming growth in North American fuel ethanol output.

In view of the economic environment, Novozymes considers its 2009 growth outlook satisfactory:

    - 2009 sales growth of 8-13% in DKK and 3-8% in LCY
    - Growth in operating profit of 10-15% in DKK and in net profit of 5-10%
    in DKK
    - Free cash flow of around DKK 100-300m, reduced by a high level of

Total expected investments in 2009 are DKK 1.3-1.5 billion. This includes the building of a new enzyme plant in Nebraska, USA, at a cost of USD 160-200 million in 2009-2010. Compared to the initial announcement, this roughly represents a doubling of the capacity to be built as well as investment cost, in order to ensure that future demand from the growing biofuels market can be met in the years to come.

In the light of last year's performance and the expected long-term trends, Novozymes has increased its long-term financial targets to:

    - Organic sales growth of more than 10% p.a.
    - Operating profit margin of more than 20%
    - Return on invested capital of more than 22%

    Read the full financial statement at:

2009/Group+financial+statement+for+2008.htm (Due to the length of this URL, it may be necessary to copy and paste this hyperlink into your Internet browser's URL address field. Remove the space if one exists.)

    Read Novozymes Annual Report 2008 at:


    Johan Melchior
    Tel.: +45-4446-0690
    Mobile: +45-3077-0690

    Paige Donnelly
    Tel.: +1-919-494-3209
    Mobile: +1-919-218-4501

SOURCE Novozymes A/S
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Novozymes Launches Enzyme to Reduce Acrylamide in Food
2. ConjuChem and Novozymes Enter Long-Term Supply Agreement for Recombumin(R) use in PC-DAC(TM):Exendin-4
3. EpiCept Reports Expansion of Clinical Development For Licensed Cancer Compound
4. QMed, Inc. Reports July Medicare SNP Enrollments
5. Phlo Affiliate Reports Expanded Coverage to Oregon Border
6. Healthcare Technologies Reports Loss for 2007 Second Quarter & Six Months Results
7. Dragon Pharmaceutical Reports Growth in Sales and Profits during Second Quarter of 2007
8. Carrington Reports Second Quarter 2007 Results
9. Avitar Reports Third Quarter Financial Results for Fiscal 2007
10. Response Genetics Reports Second Quarter 2007 Financial Results
11. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
Post Your Comments:
(Date:11/25/2015)... -- Neurocrine Biosciences, Inc. (Nasdaq: NBIX ) announced today ... Neurocrine Biosciences, will be presenting at the 27th Annual ... . .   Listeners ... prior to the presentation to download or install any ... available on the website approximately one hour after the ...
(Date:11/25/2015)... SAN DIEGO , Nov. 25, 2015 ... that management will participate in a fireside chat discussion ... New York . The discussion is ... Time. .  A replay will ... Contact:  Media Contact:McDavid Stilwell  , Julie NormartVP, Corporate ...
(Date:11/24/2015)... LUMPUR, Malaysia , Nov. 24, 2015 /PRNewswire/ ... global contract research organisation (CRO) market. The trend ... result in lower margins but higher volume share ... increased capacity and scale, however, margins in the ... Research Organisation (CRO) Market ( ), ...
(Date:11/24/2015)... DIEGO , Nov. 24, 2015 Halozyme Therapeutics, Inc. ... Healthcare Conference in New York on Wednesday, ... Helen Torley , president and CEO, will provide a corporate ... New York at 1:00 p.m. ET/10:00 a.m. PT ... and investor relations, will provide a corporate overview. --> ...
Breaking Biology Technology:
(Date:11/16/2015)... Calif. , Nov 16, 2015  Synaptics ... of human interface solutions, today announced expansion of ... TouchView ™ touch controller and display driver ... revolution of smartphones. These new TDDI products add ... TD4100 (HD resolution), TD4302 (WQHD resolution), and TD4322 ...
(Date:11/10/2015)... Nov. 10, 2015  In this report, ... basis of product, type, application, disease indication, ... this report are consumables, services, software. The ... safety biomarkers, efficacy biomarkers, and validation biomarkers. ... are diagnostics development, drug discovery and development, ...
(Date:11/2/2015)... 2015  SRI International has been awarded a contract ... services to the National Cancer Institute (NCI) PREVENT Cancer ... expertise, modern testing and support facilities, and analytical instrumentation ... toxicology studies to evaluate potential cancer prevention drugs. ... Cancer Drug Development Program is an NCI-supported pipeline to ...
Breaking Biology News(10 mins):