Home / Knowledge / News / Textiles / Diversified solutions drive 9% sales growth at Novozymes
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


Must ReadView All

Pic: Shutterstock

Textiles | On 26th Feb 2020

Bangla Tariff Commission fears grave impact on China trade

The impact of the coronavirus outbreak on Bangladesh-China trade is...

Pic: Shutterstock

Textiles | On 26th Feb 2020

UK risks losing up to 14% of exports to EU if no deal: UN

Non-tariff measures could cause major fractures in post-exit UK-EU...

Pic: Shutterstock

Textiles | On 26th Feb 2020

Turkey's textile industry employs 1.67 mn: minister

Turkey's textile and garment industry currently employs around 1.67...

Interviews View All

Amit Jain, Shingora Textiles Ltd

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Top executives, Textile & apparel bodies

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Uhan Soebiantoro,

Uhan Soebiantoro

Luckytex is an integrated textile manufacturing company founded by...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

C Dhandayuthapani,

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Justin Chan & Shyam Gollakota, University of Washington

Justin Chan & Shyam Gollakota
University of Washington

A fabric that can store data without any electronics or batteries has been ...

Ian Russell, Pireta

Ian Russell
Pireta

UK-based Pireta has developed a unique free-form process to add durable,...

Mr Hartmann Huth, Trevira GmbH

Mr Hartmann Huth
Trevira GmbH

Trevira GmbH is an innovative European manufacturer of high-value branded...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

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


February 2020

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


Advanced Search