Home / Knowledge / News / Textiles / Novozymes Q1 EBIT lifts 30%
Novozymes Q1 EBIT lifts 30%
24
Apr '14
The first quarter of 2014 was strong from a sales growth, earnings and cash flow perspective. As expected, sales came in strong in the first quarter and, organically, sales increased by 11% compared with Q1 2013 (7% DKK, 10% LCY). EBIT grew by 30%, and the EBIT margin was 30.4%, driven by a one-time positive impact from The BioAg Alliance of net around 4 percentage point and a better than expected development in underlying earnings. 
 
As a result, expectations for full-year EBIT growth, EBIT margin, net profit growth, ROIC and free cash flow are increased, despite the unfavorable currency development. Expectations for full-year organic and LCY sales growth are maintained, and expectations for sales growth in DKK are adjusted for currency within previous range.
 
Peder Holk Nielsen, President and CEO of Novozymes, comments, “We’ve delivered a strong first quarter, and we’re increasing the outlook for full-year EBIT growth. Double-digit organic sales growth, good underlying earnings performance and completion of The BioAg Alliance agreement mark a good start to 2014. We had expected sales to come in strongly in the first quarter, especially in Bioenergy and Household Care, and I’m pleased to see that we continue to add more value for our customers and grow our business in these two important markets. 
 
“Reported earnings are extraordinarily high due to the impact from The BioAg Alliance agreement. Underlying productivity has improved compared with last year, and this drives our increased expectations for EBIT growth and margin for the full year. Regarding The BioAg Alliance, it feels great to have kicked off one of Novozymes' most significant projects for the years ahead. We’re excited to get started and are focusing resources and efforts on ensuring success in BioAg."
 

Novozymes


Interviews View All

Shiladitya K Joshi, Truetzschler India Private Limited

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Textile industry, Head honchos

Textile industry
Head honchos

It is a well-calibrated budget

Amrit Sethia, SOIE

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Arup Chakraborty,

Arup Chakraborty

Mirrorsize is a US-based start-up that provides artificial intelligence...

Alphonse Reddy,

Alphonse Reddy

Bangalore-based Sunday designs and makes mattresses and accessories that...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, the Association of the Nonwoven Fabrics Industry, serves hundreds of ...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sidharth Sinha, Sidharth Sinha

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

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

Leave your Comments


November 2019

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

Follow us on instagram

Follow

Follow Fibre2Fashion On


Advanced Search