Chr. Hansen Reports Strong 2011/2012 Performance and Solid Expectations

16 Jan 2013 --- "The performance in 2011/12 confirmed the resilient business model of Chr. Hansen with a diversified and innovative product portfolio securing strong organic revenue growth of 11% (excluding carmine price effect). Our profitability increased with EBIT margin at 26.5% compared to 25.0% the year before and Chr. Hansen is well prepared to ensure the future growth of the company," says CEO Lars Frederiksen.

 

"For 2012/13 we expect organic revenue growth between 8-10% (excluding carmine price effect) and an EBIT margin before special items and impairments above 2011/12." 

 

Revenue of EUR 699 million, was up 10% compared to 2010/11, with organic revenue growth of 8% (11% adjusted for changes in sales prices to reflect changes in raw material prices for carmine).

 

EBIT was EUR 185 million, up 16% compared to 2010/11. EBIT margin 26.5%, up from 25.0% in 2010/11.

 

Q4 2011/12 revenue was EUR 185 million, up 15% compared to Q4 last year. Organic growth was 10% (14% adjusted for changes in sales prices to reflect changes in raw material prices for carmine). EBIT margin reached 27.2% compared to 28.4% in Q4 last year.

 

Organic revenue growth, excluding effect on sales prices from change in raw material prices for carmine, is expected to be in the range of 8-10% while organic revenue growth, including the effect from change in raw material prices for carmine, is expected in the range of 7-9%.

 

The EBIT margin before special items and impairments is expected to be above last year.

 

Organic growth is expected to continue to be driven by increased demand for healthy food products and supplements, conversion from in-house bulk starter to industrialized produced cultures and from synthetic to natural colors, demand for value added solutions and continued innovation.