Chr. Hansen Announces Increase in Revenues in First Quarter Results

26/01/05 - Chr. Hansen announced an increase in revenue of four percent over last year in its first quarter results. A world leader in food ingredients, the company grew organically in Canada and Mexico but the results in the United States were not so positive with sales there on the decline.
EASY-Set, Chr. Hansen’s dairy culture system, which is targeted towards large US cheese dairies has however, won large market shares in the US during the past years, and the company expects this trend to continue. Sweeteners and flavors sales declined in the US.
“With the performance for the first quarter below our expectations, we will focus on working closer with our customers to meet their needs by providing solutions and systems in a timely and efficient manner", says David R. Carpenter. Carpenter was appointed President and CEO of Chr. Hansen in North America in January 2005..
The company says its organic growth target rate for the 2004/05 financial year is still 5-6 percent, however, based on the current exchange rates (including a USD exchange rate of USD 1 = DKK 5.70), which is three to four percent lower than last year’s level revenue is now forecast at approximately DKK 3,450 million against the previous forecast of DKK 3,500 million. The EBITA margin is retained at 13.0 percent.
Chr. Hansen is a global biotechnology company operating from facilities in thirty countries worldwide. They provide ingredients to the food, dairy, human health and nutrition, and animal health industries. The company is a primary supplier of cultures, probiotics, enzymes, colors, flavors, seasonings, sweeteners, and tablet coatings and excipients, which are applied in foods and beverages, pharmaceuticals, dietary supplements and agricultural products.