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Interim report September 1, 2019

 


Company announcement n ° 16/2020

Growth momentum and EBIT margin improved in the third quarter; explore strategic options for natural colors

Organic revenue growth of 7% in Q3, corresponding to growth of 4% EUR, with improved dynamics compared to 1H as expected; Food crops and enzymes 8%, Health and nutrition 12% and Natural colors 1%, bringing organic growth in Group sales to 5% in the first nine months of 2019/20. The impacts of COVID-19 on third quarter revenues were net positive. In Q3, EBIT before exceptional items increased by 5% to EUR 97 million, and the EBIT margin before special items increased by 0.4% to 30.8%.
The outlook for organic growth and EBIT margin bsi for the whole year is unchanged, while the FCF basi increases to more than 200 million euros.

CEO Mauricio Graber says: We are satisfied with our performance in the third quarter, as our company has shown resilience in the volatile first months since the COVID-19 epidemic thanks to our solutions of essential natural ingredients for the food, nutritional and agricultural industries. Customers increased safety stocks of essential ingredients in March and early April to cope with possible supply chain disruptions, then stocks started to normalize in late April and May . Our innovative solutions have proven their value and we have been able to continue the momentum of recent product launches.

“Our T3 EBIT margin before special items increased by 0.4%, driven by the benefits of scalable production and lower travel costs due to COVID-19 travel restrictions. 19. Our business model and our solid financial position allows us to maintain our investments in growth opportunities and innovation. The third quarter performance was in line with our expectations and, based on the performance of the company after nine months, we are maintaining our organic growth and EBIT margin forecasts for the full year and increase free cash flow before acquisitions and special items, although macroeconomic and uncertainty in the end market persists due to COVID-19.

We also finalized an acquisition in the third quarter and signed another at the start of the fourth quarter. HSO Health Care and UAS Laboratories represent significant investments in our microbial platform, and we plan to continue to expand our platform through a disciplined acquisition strategy.

“As part of the strategic review, the board of directors and the executive board reviewed Chr. Hansen’s portfolio, and since Natural Colors does not share microbial and fermentation technology platforms, strategic options for the Natural Colors’ future will be We have also announced August 25 as a new date for our virtual capital markets day, where we will present all the results of the current strategy review.

Conference call
Chr. Hansen will hold a conference call on July 2, 2020 at 10:00 am CET. The conference call is accessible via the company’s website, www.chr-hansen.com.

For further information, please contact:
Martin Riise, IR manager
+45 53 39 22 50
Annika Stern, IR Officer
+45 23 99 23 82

About Chr. Hansen
Chr. Hansen is a world leader in biosciences that develops solutions of natural ingredients for the food, nutritional, pharmaceutical and agricultural industries. We develop and produce cultures, enzymes, probiotics and natural colors for a rich variety of foods, confectionery, beverages, food supplements and even animal and plant protection foods. Our product innovation is based on around 40,000 microbial strains that we like to call good bacteria. Our solutions allow food manufacturers to produce more with less while reducing the use of chemicals and other synthetic additives, making our products highly relevant in today’s world. Durability is an integral part of Chr. Hansens vision to improve nutrition and health. In 2019 Chr. Hansen has been ranked as the most sustainable company in the world by Corporate Knights thanks to our sustained efforts in the area of ​​sustainable development and our many collaborative partnerships with our customers. We have been delivering value to our partners and, ultimately, to end consumers worldwide for over 145 years. We are proud that over a billion people consume products containing our natural ingredients every day.

  • No 16 2020 Interim report September 1, 2019 – May 31, 2020

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