Solid growth in the first nine months

With organic growth of 9% in the first nine months of the financial year 2012/13 Chr. Hansen delivers a solid interim result“.

Chr. Hansen delivered organic growth of 9% excluding carmine price effect in the first nine months of 2012/13. In Q3 the organic growth excluding carmine price effect was 8%. The Cultures & Enzymes Division realized 7% growth in line with the long term organic growth expectations for the division. Both the Health & Nutrition Division and the Natural Colors Division delivered double digit growth. For the full year 2012/13 we expect organic growth excluding carmine price effect of 8-9% (previously 8-10%),” says CEO Cees de Jong.

“Operating profit (EBIT) margin before impairments was at 25.9% slightly below last year (26.2%) and for the full year 2012/13 we expect an EBIT margin before special items and impairments around 27% (previously above last year).”

• Highlights, first nine months of 2012/13
• Revenue of EUR 545 million, up 6% compared to the first nine months of 2011/12
• Organic growth of 6% (9% excluding carmine price effect)
• EBIT of EUR 133 million, down 1% compared to the first nine months of 2011/12. EBIT margin of 24.4% compared to 26.2% last year. The EBIT margin before impairments reached 25.9%

• Q3 2012/13 revenue was EUR 192 million, up 6% compared to Q3 last year. Organic growth was 7% (8% excluding carmine price effect). EBIT margin of 27.6% compared to 28.5% in Q3 last year.

Adjusted outlook, full year 2012/13
Expectations to organic growth have been narrowed. Organic growth, excluding the carmine price effect, is expected to be in the range of 8-9% (previously 8-10%) while organic growth, including the carmine price effect, is expected to be in the range of 6-7% (previously 7-9%). EBIT margin before special items and impairments is now expected to be around 27% (previously above last year (27.2%)).

Please see ">the interim report for further details.