Home / Knowledge / News / Textiles / Sales of textile enzymes for abrasion of denim fall at Novozymes
Sales of textile enzymes for abrasion of denim fall at Novozymes
22
Jan '09
Novozymes A/S Group releases the Financial Statement for 2008. 2008 sales growth was strong at 13% in local currencies. Earnings were also very satisfactory. Lower growth in the fourth quarter. Expected sales growth in 2009 of 8–13% in DKK in an uncertain market. Favorable long-term trends lead to new, increased long-term targets. Higher future growth supported by higher investments.

• 2008 sales up by 13% in LCY and 10% in DKK to DKK 8,146m
• Sales growth of 5% in LCY and 10% in DKK in the fourth quarter
• 53.5% gross margin compared to 53.1% in 2007
• Operating profit of DKK 1,504m, a 7% increase, excluding one-off item in 2007
• Operating profit margin of 18.5% compared to 18.9% in 2007, excluding one-off item
• Net profit increase of 8% to DKK 1,062m, excluding one-off item in 2007
• Free cash flow before acquisitions of DKK 755m against DKK 963m in 2007
• Net interest-bearing debt of DKK 1,380m compared to DKK 1,769m at year-end 2007
• Equity ratio of 45% at year-end 2008

“2008 was a strong year for Novozymes. I'm very pleased with our performance,” says Steen Riisgaard, President and CEO. “Lower growth in the fourth quarter may point to a slowdown as we go into 2009, but we see very favorable trends and opportunities further ahead, so we have upped our level of ambition and increased our long-term targets.”

Outlook for 2009 - The severity of the global economic slowdown remains very uncertain, and efforts have been made to reflect this in the outlook. The outlook in DKK is positively affected by assumed exchange rate levels for 2009. Thus, assuming that exchange rates for the company's key currencies remain at the spot rates on January 21, 2009, the outlook is:

• 2009 sales growth of 8–13% in DKK and 3–8% in LCY
• Growth in operating profit of 10–15% in DKK and in net profit of 5–10% in DKK
• Free cash flow of around DKK 100–300m, reduced by a high level of investments

Sales of textile enzymes for abrasion of denim fell during the year as the result of a fashion trend in favor of darker denims and a slowing US denim demand. Total textile sales were down 16% for the year.

Asia Pacific sales increased by 5% in LCY during the year. Detergent and food enzyme sales performed well. However, the depressed textile industry and overall fourth-quarter performance contributed negatively to the development in this region.

Novozymes A/S


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search