In Denmark, Novozymes released their group financial report for 2011, stating Growth in local currencies was 10% compared to 2010. EBIT increased by 11% and took the EBIT margin to 22.3% despite a negative impact from higher raw material prices, acquisitions, and unfavorable currency rates. Net profit grew by 13%, and free cash flow before acquisitions and divestments came in high, supported by the increased net profit.
Steen Riisgaard, President & CEO stated, “To sum up, although 2012 looks to be another uncertain year with respect to the global economy…”
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