Chr. Hansen realized 9% organic growth in Q1 2014/15 and maintains full-year expectations
Hørsholm, Denmark, 21-1-2015 — /EuropaWire/ — “With solid organic revenue growth of 9% in Q1 2014/15, Chr. Hansen has started the year well. The Cultures & Enzymes Division (7% organic growth) performed in line with our long-term expectations and the Health & Nutrition Division (29%) delivered very strong growth albeit on weak comparables. The Natural Colors Division (4%) grew below expectation.
The implementation of our Nature’s No. 1 strategy continues. We have accelerated our research & development efforts within biological plant protection and we have strengthened the organization in China to support our new go-to-market strategy for cultures and enzymes. Finally, the implementation of the new dedicated sales and application organization in the Natural Colors Division is on track and we expect the performance of the division to improve during the year,” says CEO Cees de Jong.
“We reiterate our expectations for 2014/15 of organic revenue growth of 7-9% and an EBIT margin before special items above 26.5%.”
Highlights Q1 2014/15
- Revenue EUR 188 million, up 10% on Q1 2013/14
- EBIT before special items EUR 44 million, compared to EUR 43 million in Q1 2013/14
- EBIT margin before special items 23.1%, compared to 25.2% in Q1 2013/14. The EBIT margin was impacted negatively by 0.5 percentage point by a lower level of capitalization of development costs
The outlook for 2014/15 is unchanged from the announcement of 22 October 2014.
Organic revenue growth is expected to be 7-9%.
Please see the interim report for further details.
For further information please contact:
Eva Veileborg Hald
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.