Novozymes first-quarter results beats forecast (updated)

Chr Hansen Holding A/S

26/04/2023 07:17

(Adds CEO comment, outlook details)
       COPENHAGEN, April 26 (Reuters) - Danish industrial
enzymes maker Novozymes  NZYMb.CO  on Wednesday reported
slightly stronger than expected first-quarter operating results
and maintained its full-year growth outlook.
    Earnings before interest and tax for the January-March
period came in at 1.134 billion Danish crowns ($167.19
million)above the 1.08 billion average expectation by analysts
in a poll compiled by the company.
    "Novozymes is delivering stronger than expected results as
we had a strong end to the first quarter including some impact
from timing of orders," Chief Executive Ester Baiget said in a
statement. 
        Novozymes reported 5% organic sales growth for the first
quarter, driven by stronger sales in its Bioenergy and
Agriculture, Animal Health and Nutrition divisions.
  
        The company, whose enzymes are used in making consumer
goods from detergents to biofuels confirmed its full-year
organic sales growth outlook of between 4% and 7%.
  

($1 = 6.7826 Danish crowns)

 (Reporting by Johannes Birkebaek, editing by Terje Solsvik)
 ((Johannes.Birkebaek@thomsonreuters.com;))