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Diversified solutions drive 9% sales growth at Novozymes
28
Oct '14
“Strong and diversified solutions drove 9% year-on-year overall sales growth in the third quarter of 2014 at Novozymes,” says the company, which claims to have an estimated 48% share of the global enzyme market in 2013.

It informs, “The robust sales in spite of an uncertain economic climate are driven by relevant innovations that target a variety of markets and industries.

“It is this diversity – in technologies, customers, markets and regions – that lies behind Novozymes’ steady growth during 2014 and ever since inception.”

“The results of the third quarter of 2014, shows that Novozymes’ business has developed well, with sales in line with expectations and an increase in outlook for full-year profit,” it reveals.

In the third quarter of 2014, Novozymes reported an 8% organic sales growth, while its EBIT margin stood at a solid 27.4%.

“Biotech is all about diversity - the diversity of nature, the diversity of life, and the diversity of solutions that can change the world around us. As technology becomes more sophisticated, this diversity in nature becomes more accessible to us all,” the enzymes producer explains.

Likewise, innovations too drove Bioenergy industry sales, which surged 23% from a year ago period and is considered to be the most significant contributor to Novozymes’ sales growth in the third quarter of 2014.

“I am excited to see our Bioenergy business drive our growth, again. The strong sales were mainly driven by increased penetration of our yield discovery innovations targeting the US ethanol market,” says CEO, Peder Holk Nielsen.

More than 20% of Novozymes’ global workforce is engaged in R&D, with an annual spend of approximately 14% of revenue on R&D.

“Innovation is a key driver for Novozymes’ top and bottom line, with focus on continuously developing the existing product portfolio while also devoting significant resources to long-term radical innovation in order to ensure long-term growth,” it says.

For the full year of 2014, Novozymes’ expects organic sales to grow between 7-8% and EBIT margin to stay between 26-27%.

Novozymes sells more than 700 products all over the world for applications as diverse as textiles, detergents, biofuels, agriculture, food and beverages, biopharmaceuticals, wastewater, pulp and paper.

Peder Holk Nielsen adds, “That is why our sales remain strong in spite of signs of uncertainty in the global economy and in some of our markets.” (AR)

Fibre2fashion News Desk - India

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