Strong start to 2015/16: 14% organic revenue growth in Q1

Strong start to 2015/16: 14% organic revenue growth in Q1
Press Release | Jan 14. 2016 07:02 GMT

We experienced a strong start to 2015/16 and 14% organic revenue growth in Q1 underlines our unique position in markets within microbial and natural color solutions with attractive growth opportunities. We continue to implement our Nature’s No. 1 strategy, and I’m very pleased with the progress. We have signed an agreement to acquire Nutrition Physiology Company, which expands our current activities in animal health, and we have entered into our first commercial partnership in the human microbiome initiative,” says CEO Cees de Jong.

In the first quarter of our current financial year, our profitability increased, not least due to the positive impact from the scalability of our production platform in cultures and enzymes. As a result, the EBIT margin before special items increased by 2 percentage points to 25.2% in Q1 2015/16.”

Based on the strong start of the year, we now expect organic revenue growth of 9-11% while the EBIT margin before special items is still expected to be above the 27.1% achieved in 2014/15.”


2015/16 in brief

Q1 2015/16 results

  • Revenue of EUR 214 million, compared to EUR 188 million in 2014/15, corresponding to organic growth of 14%
  • EBIT before special items of EUR 54 million,compared to EUR 44 million in 2014/15, an increase of 24%. The EBIT margin before special items was 25.2%, compared to 23.1% in 2014/15
  • Income taxes of EUR 13 million, equivalent to an effective tax rate of 25%, compared to 26% in 2014/15
  • Profit for the period of EUR 39 million, compared to EUR 30 million in 2014/15, an increase of 31%
  • Negative free cash flow of EUR 17 million, compared to a negative EUR 30 million in 2014/15
  • Net interest-bearing debt of EUR 513 million, or 1.7x EBITDA, compared to EUR 432 million, or 1.7x EBITDA, at 30 November 2014.

Nature’s No. 1 progress

  • On 13 January 2016, Chr. Hansen announced the agreement to acquire Nutrition Physiology Company (NPC) for a cash consideration reflecting an enterprise value of USD 185 million, and a EV/EBITDA multiple of 15.9x based on full-year 2016 estimates before synergies. The details of the agreement are described in announcement 1/2016 of 13 January 2016
  • Chr. Hansen continues to discuss potential partnerships with various companies within the human microbiome initiative, and has signed an agreement with Caelus Pharmaceuticals to develop a production process and pilot material for clinical trials to explore the use of Eubacterium hallii for prevention and treatment of metabolic disease
  • Chr. Hansen will hold a Capital Market Day on 12 April 2016 in Copenhagen. The agenda of the day is to provide an update on the Nature’s No. 1 strategy.


OUTLOOK FOR 2015/16

The outlook for 2015/16 has been adjusted compared to the announcement of 21 October 2015. The agreement to acquire Nutrition Physiology Company is not impacting the outlook.

21 October 2015

Organic revenue growth: 8-10%

Research & development expenditures incurred (% of revenue): 6.5-7.0%

EBIT margin before special items above 2014/15: above 2014/15

Free cash flow before acquisitions and divestments: above 2014/15


14 January 2016

Organic revenue growth: 9-11% 

Research & development expenditures incurred (% of revenue):   6.5-7.0% 

EBIT margin before special items above 2014/15:  above 2014/15

Free cash flow before acquisitions and divestments:   above 2014/15


The Q1 2015/2016 report was released today, 14 January, 2016, and is available from here.


Chr. Hansen est une entreprise internationale, leader dans le domaine de la bioscience, qui met au point des solutions naturelles pour les industries des secteurs alimentaire, nutritionnel, pharmaceutique et agricole. Nous développons et produisons des cultures, des enzymes, des probiotiques et des colorants naturels pour toute une série d'aliments, de bonbons, de boissons, de compléments alimentaires, de produits alimentaires pour animaux, ainsi que de produits de protection des plantes. Notre innovation en matière de produits repose sur environ 40 000 souches microbiennes – que nous aimons appeler de « bonnes bactéries ». Nos solutions permettent aux fabricants de produits alimentaires de produire plus avec moins – tout en limitant le recours à des produits chimiques ou à des additifs de synthèse – ce qui rend nos produits très intéressants dans le monde actuel. Le développement durable fait partie intégrante de la vision de Chr. Hansen pour améliorer l'alimentation et la santé. En 2019, Chr. Hansen a été classée l’entreprise la plus durable au monde par Corporate Knights grâce à ses efforts soutenus en matière de développement durable et à ses nombreux partenariats collaboratifs avec ses clients. Nous apportons de la valeur à nos partenaires et, au final, aux consommateurs du monde entier, et ce depuis plus de 145 ans. Nous sommes fiers que plus d'un milliard de personnes dans le monde consomment des produits contenant nos ingrédients naturels tous les jours. La société Chr. Hansen a été fondée en 1874 et est cotée au Nasdaq de Copenhague.

Partager