"During the year the global economy has been through turbulent times with significant uncertainty. With such global turmoil we are pleased that Chr. Hansen once again can report a strong performance. We delivered on our financial targets for the year with profitable growth across all business areas resulting in organic growth of 14%. Excluding the effect of carmine prices, organic growth reached 10%. The positive development is a clear evidence of the resilience and scalability of our business model," says CEO Lars Frederiksen.
"We continue on track to meet our long term growth expectations and expect organic growth in 2011/12 to reach 7-10% excluding the effect of carmine prices. We expect carmine prices to decline in the coming year affecting the organic growth negatively by approximately two percentage points to 5-8%. EBIT margin before special items is expected to be above 26%.
Revenue growth continues to be driven by increased demand for healthy food products not least from the growing middle income population in emerging markets and conversion from in-house bulk starter to industrialized produced cultures and from synthetic to natural colors," says Lars Frederiksen.
Please see the annual report for further details.
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 2012/13 financial year was EUR 738 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.