Health & Nutrition Leads Organic Growth at Chr Hansen
01 Jul 2015 --- In its financial statement for the first nine months of 2015, Chr. Hansen has seen year-to-date organic growth of 9%, with an increase in revenue of 13% compared with the same period last year.
The Danish company has narrowed its full year organic revenue expectations to 8-9% and declared an interim dividend to shareholders.
Chr. Hansen reports solid organic revenue growth of 9% in the first nine months of 2014/15: Cultures & Enzymes Division 8%, Health & Nutrition Division 17% and Natural Colors Division 7%. EBIT before special items increased by 12% to EUR 160 million. Revenue measured in EUR increased by 13%, as Chr. Hansen was positively impacted by the appreciation of the USD. * Before special items.
The outlook for 2014/15 has been adjusted compared to the announcements of 9 April 2015 and 22 October 2014.
As well as organic revenue growth of 8-9%, research & development expenditures incurred (% of revenue) expect to be around 7%, EBIT margin before special items above 26.5% and free cash flow before acquisitions, divestments and special items around EUR 150 million
de Jong stated: “The performance in the first nine months of 2014/15 was encouraging with good progress across our divisions and strategic initiatives. Based on this we have narrowed our organic revenue expectations for 2014/15 to 8-9% (previously 7-9%). The EBIT margin is still expected to be above 26.5%, while free cash flow is now expected to be around EUR 150 million (previously above EUR 130 million).”
“Given the strong operational performance and free cash flow generation, we have decided to declare an interim dividend totaling EUR 115 million (DKK 6.57 per share) with a pay-out date of 9 July 2015,” De Jong concluded.
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