Novozymes bioenergy unit sees Q3 sales soar 16%

In Denmark, Novozymes’ bioenergy unit saw sales soar 16% during Q3, compared to 3% as predicted by analysts, as ethanol producers bet on the company’s enzymes boosting their own production thanks to increased buying power. But the CEO told Reuters that for Novozymes’ growth to continue new ethanol plants must be built and that isn’t likely to happen with oil prices remaining low. Shares rose to a two-year high thanks to the Q3 results that also led the company to increase its annual outlook.

Novozymes: The Digest’s 2015 5 Minute Guide