Home / Knowledge / News / Textiles / Growth continues for Novozymes

Growth continues for Novozymes

24
Apr '08
2008 kicked off with high sales growth, leading to an upwards adjustment in local currencies. Expected sale of enzymes for detergents and feed significantly increased.

Despite unfavorable exchange rates, the outlook for net profit 2008 in DKK is maintained.

Earnings development was good in the first quarter, and the developments in energy and raw material prices were in line with expectations.

Overall, the financial results in the first quarter were very satisfactory, particularly given the generally unfavorable exchange rate movements.
• Novozymes' sales rose by 11% in local currencies in the first quarter of 2008. Calculated in DKK sales rose by 5% to MDKK 2,026 from MDKK 1,931 in 2007
• Operating profit rose by 4% to MDKK 372 from MDKK 359 in 2007. Adjusted for exchange rate movements, growth was approximately 13%
• The operating profit margin for the quarter was 18.4% against 18.6% in 2007
• Net profit for the period rose by 4% to MDKK 264 against MDKK 254 in 2007
• Earnings per share (diluted) were DKK 4.19 for the first quarter, an increase of 5%
• Free cash flow before acquisitions was MDKK 221 against MDKK 308 in 2007
• Return on invested capital (ROIC) fell to 19.3% from 22.4% in the first quarter of 2007

“The high growth rate is continuing in 2008,” says Steen Riisgaard, President and CEO. “We have not seen, and there is no sign of, a slowdown in sales or earnings.

In fact the first quarter was better than expected, so we are increasing our sales expectations for the year. However, the declining dollar is eroding growth and earnings in DKK.


Must ReadView All

Pic: Shutterstock

Textiles | On 3rd Dec 2020

PRC overtakes US to turn EU's biggest trading partner

China has overtaken the United States in the third quarter of this...

Pic: Shutterstock

Textiles | On 3rd Dec 2020

Vietnam's textile-garment exports likely to reach $34 bn

Vietnam's textile and garment industry is predicted to earn $33.5-$34 ...

Pic: Shutterstock

Textiles | On 3rd Dec 2020

Uzbek firm to supply cotton fabrics to Ukraine

Uzbekistan's Textile-Contact Company recently signed a $12-million...

Interviews View All

Viral Desai, Zenitex Mill Pvt Ltd

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

C Kamatchisundaram, Voltas

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Ian Burn,

Ian Burn

Camira's expertise goes from farm to fabric and everything in between. The ...

Mehul Vithalani,

Mehul Vithalani

Gopi Knitts is one of the most celebrated manufacturers and suppliers of...

Cem Erdogrul,

Cem Erdogrul

Turkey-based Temsan Air Engineering is one of the leading manufacturers of ...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser
Teknomelt

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

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


December 2020

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


Advanced Search