Chr. Hansen Upgrades Outlook on Solid Q3
With year-to-date revenue growth of 19%, 16% organic growth, EBIT growth of 18% and a solid operating profit margin of 24% Chr. Hansen continues to deliver a strong performance. Organic growth for the group remained strong in Q3
7/6/2011 --- Chr. Hansen has reported that a continued solid performance in Q3 leads to an upgrade of expectations to the organic revenue growth for 2010/11.
“With year-to-date revenue growth of 19%, 16% organic growth, EBIT growth of 18% and a solid operating profit margin of 24% Chr. Hansen continues to deliver a strong performance. Organic growth for the group remained strong in Q3. Driven by the continued move from synthetic to natural colors, the Natural Colors Division once again delivered a strong performance, while organic growth in the Cultures & Enzymes Division was more modest,” says CEO Lars Frederiksen.
“Based on the continued momentum in the Natural Colors Division, we have upgraded our expectations to the organic revenue growth for the full year from 12-14% to 14-15%. As a result of scalability effects in all divisions and a continued efficiency focus, operating profit (EBIT) margin before special items is still expected to be at or above 25%, despite the increased pressure from the changed business mix.”
Revenue in the first nine months of 2010/11 amounted to EUR 474 million, up 19%. Organic revenue growth of 16% for the first nine months of 2010/11. Operating profit (EBIT) before special items up by 18% to EUR 113 million. In Q3 2010/11 revenue increased by 11% corresponding to an organic revenue growth of 12%. Operating profit margin (EBIT) before special items reached 26% in Q3.
