Danisco Performance in H1 2006/07 as Expected 

15/12/06 In the first six months of 2006/07 Danisco recorded revenue of DKK 10,423 million, EBIT before special items of DKK 1,221 million and consolidated profit of DKK 643 million. Earnings and cash flows in both Ingredients and Sugar were in line with expectations. The implementation of ‘Unfolding the potential’ is progressing as planned, while the restructuring in Sugar is being executed ahead of plan.

Revenue is maintained at around DKK 21.0 billion but revenue in Ingredients is upgraded by DKK 250 million to approximately DKK 13.75 billion, chiefly attributable to stronger organic growth. Revenue in Sugar is downgraded by the same amount due to market conditions. EBITDA before special items and share-based payments is lifted DKK 50 million to around DKK 3,300 million as a result of Sugar’s faster-than-expected execution of the restructuring plan and miscellaneous other income. The upgrade of EBITDA is offset by an increase in special items, which are now expected to be a net expense of around DKK 175 million. In consequence, the outlook for consolidated profit before share-based payments and after special items is maintained at around DKK 1 billion.