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Full-year results: Strong performance and solid expectations

Press Release   •   Oct 31, 2012 08:00 GMT

With organic growth of 11% and an improved EBIT margin in the financial year 2011/2012 Chr. Hansen continues its profitable journey.

"The performance in 2011/12 confirmed the resilient business model of Chr. Hansen with a diversified and innovative product portfolio securing strong organic revenue growth of 11% (excluding carmine price effect). Our profitability increased with EBIT margin at 26.5% compared to 25.0% the year before and Chr. Hansen is well prepared to ensure the future growth of the company," says CEO Lars Frederiksen.
"For 2012/13 we expect organic revenue growth between 8-10% (excluding carmine price effect) and an EBIT margin before special items and impairments above 2011/12."

Highlights

  • Revenue EUR 699 million, up 10% compared to 2010/11
  • Organic revenue growth 8% (11% adjusted for changes in sales prices to reflect changes in raw material prices for carmine)
  • EBIT EUR 185 million, up 16% compared to 2010/11. EBIT margin 26.5%, up from 25.0% in 2010/11
  • Q4 2011/12 revenue was EUR 185 million, up 15% compared to Q4 last year. Organic growth was 10% (14% adjusted for changes in sales prices to reflect changes in raw material prices for carmine). EBIT margin reached 27.2% compared to 28.4% in Q4 last year



Outlook 2012/2013

  • Organic revenue growth, excluding effect on sales prices from change in raw material prices for carmine, is expected to be in the range of 8-10% while organic revenue growth, including the effect from change in raw material prices for carmine, is expected in the range of 7-9%
  • The EBIT margin before special items and impairments is expected to be above last year



Organic growth is expected to continue to be driven by increased demand for healthy food products and supplements, conversion from in-house bulk starter to industrialized produced cultures and from synthetic to natural colors, demand for value added solutions and continued innovation.

For further information, see the Annual Report

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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