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News 23.10.2014

Annual Results: 8 % Organic Growth

“Chr. Hansen continues to deliver solid growth and strong margins. In 2013/14, organic growth was 8 %, while the…

“Chr. Hansen continues to deliver solid growth and strong margins. In 2013/14, organic growth was 8 %, while the EBIT margin before special items ended at 27.1 %. The Cultures & Enzymes Division and the Health & Nutrition Division delivered solid organic growth of 8 % and 15 % respectively, while the Natural Colors Division delivered organic growth of 2 % excluding carmine price effect.

The implementation of our Nature’s No. 1 strategy saw good progress during 2013/14 and we will take this further in 2014/15, with increasing investment in our new strategic initiatives for biological plant protection and the establishment of a dedicated sales and application organization in the Natural Colors Division,” says CEO Cees de Jong.

2013/14 in brief

• Revenue EUR 756 million, compared to EUR 738 million in 2012/13

• Organic growth 8 %

• EBIT before special items and impairments EUR 205 million, compared to EUR 201 million in 2012/13

• EBIT margin before special items and impairments 27.1 %, compared to 27.2 % in 2012/13. Negative impact of 0.9 percentage point from lower level of capitalization of development expenditures

Fourth quarter 2013/14 results

• Revenue EUR 205 million, up 6 % on Q4 2012/13

• Organic growth 8 %

• EBIT margin before special items 30.0 %, compared to 30.7 % in Q4 2012/13

Outlook for 2014/15

For 2014/15 we expect organic revenue growth of 7-9 % and an EBIT margin before special items is expected to be above 26.5 %. Research & development expenditures incurred (% of revenue): 7-8 %

Free cash flow before acquisitions and divestments: above EUR 130 million

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