Novozymes posts strong 2008 figures and ups its ambitions  

2009.01.27
World-leading enzymes and bioinnovation concern Novozymes has kicked off the reporting season for companies in the OMX Copenhagen C20 index with a strong set of 2008 results
World-leading enzymes and bioinnovation concern Novozymes has kicked off the reporting season for companies in the OMX Copenhagen C20 index with a strong set of 2008 results. Sales growth for the year was up 13% in local currencies and 10% in DKK to DKK 8,146m (USD 1,418m) while earnings were also very satisfactory, reports the company on its website.
 
"2008 was a strong year for Novozymes. I'm very pleased with our performance," says Novozymes president and CEO Steen Riisgaard in a press release. "Lower growth in the fourth quarter may point to a slowdown going into 2009. But further ahead there are favourable trends and opportunities for our business, so we have upped our level of ambition and increased our long-term targets."
 
Those long-term targets are indeed ambitious, comprising organic sales growth of more than 10% per annum (excluding enzymes for conversion of biomass), an operating profit margin of more than 20% and ROI of more than 22%.
 
In an article published this week by financial daily newspaper Børsen, Steen Riisgaard puts numbers on the size of Novozymes ambitions in turnover terms looking ahead. "On the other side of 2015 we will hopefully reach around DKK 20 billion (USD 3.48bn)," he says.
 
Link > Novozymes                

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