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Novozymes growth in operating profit of 2–5%
Jan '08
2007 was a really good year for Novozymes. Growth was the theme of the year, with sales growth higher than expected at 14%. The financial results were satisfactory, particularly in the light of high energy and raw material prices.

Unfavorable exchange rate movements had a negative impact on the results measured in DKK. Growth in earnings was 11%, and free cash flow was DKK 963 million.

The high rate of sales growth is expected to continue in 2008 and onwards, and therefore it has been decided to expand the production in the USA.

- Novozymes' sales rose by 14% in local currencies in 2007. Measured in DKK sales rose by 9% to DKK 7,438 million from DKK 6,802 million in 2006. Growth excluding acquisitions was 12%.
- Operating profit rose by 11% to DKK 1,481 million in 2007 from DKK 1,340 million in 2006. One-off items (cf. Stock exchange announcement no. 14/2007) had a positive impact of approximately DKK 75 million.
- Operating profit excluding one-off items rose by 5%. The operating profit margin including one-off items was 19.9% against 19.7% in 2006
- Net financial costs were DKK 96 million against DKK 122 million in 2006
- Net profit for the period rose by 14% to DKK 1,042 million in 2007 against DKK 911 million in 2006. Growth excluding one-off items was 8%
- Earnings per share (diluted) for 2007 were DKK 16.47, an increase of 17%
- Free cash flow before acquisitions was DKK 963 million against DKK 1,058 million in 2006

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Courtesy: Commonwealth Bank of Australia

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