Navigation Links
Novozymes Reports Strong 2008 Results
Date:1/22/2009

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:http://www.newscom.com/cgi-bin/prnh/20090122/335356 )

"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
    investments

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:
   http://www.novozymes.com/en/MainStructure/Investor/Company+Announcements/

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:http://www.report2008.novozymes.com/

    Contacts

    Johan Melchior
    Tel.: +45-4446-0690
    Mobile: +45-3077-0690
    jmel@novozymes.com

    Paige Donnelly
    Tel.: +1-919-494-3209
    Mobile: +1-919-218-4501
    pagd@novozymes.com



'/>"/>
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:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... 27, 2016   Ginkgo Bioworks , a leading ... was today awarded as one of the World ... world,s most innovative companies. Ginkgo Bioworks is engineering ... real world in the nutrition, health and consumer ... with customers including Fortune 500 companies to design ...
(Date:6/24/2016)... SAN DIEGO , June 24, 2016 /PRNewswire/ ... that more sensitively detects cancers susceptible to PARP ... individual circulating tumor cells (CTCs). The new test ... of HRD-targeted therapeutics in multiple cancer types. ... therapies targeting DNA damage response pathways, including PARP, ...
(Date:6/24/2016)... ... 24, 2016 , ... Researchers at the Universita Politecnica delle Marche in Ancona ... or pleural mesothelioma. Their findings are the subject of a new article on the ... are signposts in the blood, lung fluid or tissue of mesothelioma patients that can ...
(Date:6/23/2016)... Wausau, WI (PRWEB) , ... June 23, 2016 ... ... probiotic supplements, is pleased to announce the launch of their brand, UP4™ Probiotics, ... supplements for over 35 years, is proud to add Target to its list ...
Breaking Biology Technology:
(Date:5/16/2016)... 16, 2016   EyeLock LLC , a market ... opening of an IoT Center of Excellence in ... the development of embedded iris biometric applications. ... convenience and security with unmatched biometric accuracy, making it ... from DNA. EyeLock,s platform uses video technology to deliver ...
(Date:4/28/2016)... and BANGALORE, India , April 28, 2016 ... a product subsidiary of Infosys (NYSE: INFY ), ... a global partnership that will provide end customers ... mobile banking and payment services.      (Logo: ... innovation area for financial services, but it also plays a ...
(Date:4/19/2016)... , UAE, April 20, 2016 ... implemented as a compact web-based "all-in-one" system solution for ... biometric fingerprint reader or the door interface with integration ... modern access control systems. The minimal dimensions of the ... readers into the building installations offer considerable freedom of ...
Breaking Biology News(10 mins):