Novozymes reports accelerating profits, but expresses concerns over US biofuels market

August 16, 2012 |

In Denmark, Novozymes reported sales growth of 7% in DKK for the first half of 2012. EBIT grew by 12% compared with the first half of 2011, resulting in an EBIT margin of 24.2%. The expectation for full-year 2012 EBIT growth is increased to 11-14% from 9-12%, and EBIT margin is now expected at 23-24%. The full-year sales growth outlook is adjusted within the previously announced range to 7-9% in DKK and 4-6% organically.

“First-half sales and earnings development was as expected, and we have delivered according to plan,” says Novozymes CEO Steen Riisgaard. “Sales to some of the industries we serve, such as Household Care, are doing great. However, for other industries we serve – especially the U.S. biofuel industry – 2012 will be a more challenging year than previously expected.

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Category: Fuels

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