Novozymes 2010 sales grow
Novozymes has reported 17% sales growth and 35% EBIT growth in the first nine months of 2010.
Total sales reached $1.37 million (€0.99 million) with an unexpected high demand for enzymes in the biofuel, detergent and food industries.
Enzyme sales to the biofuel industry, representing roughly 18% of Novozymes’ total sales, were up by 25% (organic growth was 20%). Favourable blending economics as well as exports have kept US ethanol demand and production high during most of the first nine months of 2010.
Sales for the company’s detergent enzyme and food enzyme also increased by 19% each, compared to the same period in 2009.
‘I can’t be anything but very pleased looking at the continued strong development in both sales and earnings nine months into the year,’ said Novozymes CEO Steen Riisgaard. ‘Demand remained high in three out of four enzyme areas, and earnings continued to be positively affected by good productivity improvements, high capacity utilisation and tight cost management.’
He went on to explain that the company is now able to increase its expectations for the full year.
Source: Novozymes
Total sales reached $1.37 million (€0.99 million) with an unexpected high demand for enzymes in the biofuel, detergent and food industries.
Enzyme sales to the biofuel industry, representing roughly 18% of Novozymes’ total sales, were up by 25% (organic growth was 20%). Favourable blending economics as well as exports have kept US ethanol demand and production high during most of the first nine months of 2010.
Sales for the company’s detergent enzyme and food enzyme also increased by 19% each, compared to the same period in 2009.
‘I can’t be anything but very pleased looking at the continued strong development in both sales and earnings nine months into the year,’ said Novozymes CEO Steen Riisgaard. ‘Demand remained high in three out of four enzyme areas, and earnings continued to be positively affected by good productivity improvements, high capacity utilisation and tight cost management.’
He went on to explain that the company is now able to increase its expectations for the full year.
Source: Novozymes
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