Chr. Hansen reports strong organic growth of 10% for Q1

Chr. Hansen reports strong organic growth of 10% for Q1
Chr. Hansen is on track to execute on its 2025 strategy.
Press Release | Jan 14. 2021 07:00 GMT

Off to a positive start to 2020/21 with good commercial traction and integration of acquisitions on track

  • Q1 2020/21 organic sales growth was 10%, equally split between volume/mix and price, and driven by Health & Nutrition, which delivered 15% growth, while Food Cultures & Enzymes delivered 8% growth
  • Underlying EBIT margin b.s.i. (see reconciliation on p. 20) of 28.5%, incl. 1%-point negative currency impact, compared to 29.0% in Q1 2019/20. Reported EBIT margin b.s.i. (incl. all acquisition impacts) was 25.2%
  • Integration of probiotic acquisitions well on track, but temporary capacity constraints in HMO will phase part of expected FY21 revenues and capex to FY22
  • Outlook for 2020/21 is unchanged on all key parameters
EUR million Q1 2020/21 Q1 2019/20 Growth
Revenue 243.5 220.0 10.7%
EBITDA before special items 87.8 80.1 9.6%
EBIT before special items 61.4 63.8 (3.8%)
Profit from continuing operations 36.1 45.6 (20.8%)
Free cash flow before acquisitions and special items (6.9) 7.5 (192.0%)
Organic growth 10% 2%
Gross margin 55.9% 60.2%
EBITDA margin before special items 36.1% 36.4%
EBIT margin before special items 25.2% 29.0%
ROIC excl. goodwill 20.6% 29.4%

CEO Mauricio Graber says: “Our first quarter came in quite strong on a relatively easy comparable from Q1 last year, with good performance across our business, especially within Health & Nutrition. We were able to win new business, launch new products in Food Cultures & Enzymes and drive upselling in key markets such as cheese – all despite the difficulties of COVID-19. We have more product launches scheduled for the current financial year, which will help to ensure that we have a healthy commercial pipeline in the years to come.

Chr. Hansen is on track to execute on our 2025 strategy and become a focused bioscience company based on a unique microbial and fermentation technology platform. This is a year of transition, where we need to secure a successful integration of the acquired businesses. We have started out strong, and we will address any challenges that may arise in those processes head on and with determination. The divestment process of Natural Colors is also on track and the business delivered as expected.

Our outlook for 2020/21 remains cautious, and despite COVID-19 we are able to maintain our outlook on all key parameters. This means that we will still outgrow the underlying markets as we strive to deliver industry-leading growth rates.”

Outlook for 2020/21

Organic revenue growth 5-8%
EBIT margin before special items 27-28%
Free cash flow before special items, acquisitions and divestments EUR 120-160 million

The guidance for EBIT margin before special items and for free cash flow before acquisitions and special items assumes constant currencies from the time of this announcement and for the remainder of the financial year.


Chr. Hansen es una empresa global y diferenciada de biociencia que desarrolla soluciones con ingredientes naturales para las industrias de alimentación y nutrición, farmacéutica y agrícola. En Chr. Hansen, nos encontramos en una posición privilegiada para impulsar el cambio positivo mediante soluciones microbianas. Desde hace más de 145 años, trabajamos para facilitar la agricultura sostenible, las etiquetas más limpias y una vida más sana para más personas de todo el mundo. Nuestras plataformas de tecnología microbiana y fermentativa, incluida nuestra amplia colección de unas 40.000 cepas microbianas, tienen potencial para marcar un antes y un después. Al satisfacer las necesidades de los clientes y las tendencias internacionales, seguimos revelando el poder de las bacterias beneficiosas para responder a dificultades globales, como el desperdicio de alimentos, la salud en el mundo y el uso excesivo de antibióticos y plaguicidas. Como empresa de biotecnología más sostenible del mundo, llegamos a más de mil millones de personas cada día. Con el respaldo de nuestro legado de innovación y curiosidad para impulsar la ciencia, nuestro propósito de cultivar un mundo mejor naturalmente, «Grow a better world. Naturally» está en la esencia de todo lo que hacemos.

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