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.


科汉森是为食品、营养、制药和农业行业开发天然解决方案的一家全球领先的生物科学公司。我们为各种食品、糖果、饮料、膳食补充剂、动物饲料和植物保护开发和生产发酵剂、酶、益生菌和天然色素。我们的产品创新基于大约 40,000 株微生物菌株——我们喜欢称之为“有益菌群”。我们的解决方案帮助食品制造商实现以更少的资源生产更多的产品,同时也减少了化学添加剂和其他合成物添加剂的使用,这使得我们的产品与当今世界息息相关。可持续性是科汉森改善食物和健康的愿景不可分割的一部分。2019 年,科汉森被 Corporate Knights 评为全球最可持续发展的公司,这要归功于我们为可持续发展付出的巨大努力以及我们与客户建立的众多合作伙伴关系。145 年来,我们一直在不断地为我们的合作伙伴以及全球终端消费者创造价值。令我们感到自豪的是,每天有超过 10 亿人在消费含有我们天然成分的产品。科汉森成立于 1874 年,并已在哥本哈根证券交易所上市。

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