Brief: Chr. Hansen Adjusts Outlook For Organic Growth, Outlook For EBIT Margin Maintained

Chr Hansen Holding A/S

06/07/2023 07:16

July 6 (Reuters) - Chr Hansen Holding A/S  CHRH.CO :
    * CHR. HANSEN HOLDING A/S INTERIM REPORT Q3 2022/23
    * OUTLOOK FOR ORGANIC GROWTH IS ADJUSTED, WHILE OUTLOOK FOR
EBIT
MARGIN B.S.I. IS MAINTAINED
    * FY ORGANIC REVENUE GROWTH IS EXPECTED IN RANGE OF 9-11%
(PREVIOUSLY 8-11%)
    * FY EBIT MARGIN B.S.I. IS EXPECTED TO BE 26-27% (UNCHANGED)
    * FY FREE CASH FLOW B.A.S.I. IS EXPECTED TO BE AROUND EURM
200-230
(PREVIOUSLY EURM 180-220)
    * EBIT B.S.I. INCREASED BY 9% DESPITE HIGHER INPUT COSTS AND
A
LESS FAVORABLE PRODUCT MIX, LEADING TO AN EBIT MARGIN B.S.I. OF
27.5%
    * ORGANIC GROWTH CAME IN AT 9%, DRIVEN MAINLY BY PRICING
INITIATIVES
    * FREE CASH FLOW B.A.S.I. AMOUNTED TO EUR 133 MILLION FOR
YEAR TO
DATE, DUE TO HIGHER CASH FLOW FROM OPERATING ACTIVITIES AND
POSITIVE IMPACT FROM TAXES PAID
    * IN CONNECTION WITH MERGER AGREEMENT NOVOZYMES AND CHR.
HANSEN
HAVE AGREED ON CERTAIN SPECIFIC RESTRICTIONS IN RESPECT OF
DISTRIBUTIONS TO THEIR SHAREHOLDERS UNTIL COMPLETION OF PROPOSED
MERGER
    * AS PART OF THIS IT HAS BEEN AGREED THAT CHR. HANSEN CAN
MAKE A
DIVIDEND PAYOUT IN RESPECT OF ITS EARNINGS FOR PERIOD SEPTEMBER
1, 2022 AND AUGUST 31, 2023

Source text for Eikon:  ID:nGNE41jBv1 
Further company coverage:  CHRH.CO 

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