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CHR - Chr Hansen Holding A/S News Story

DKK569.4 9.4  1.7%

Last Trade - 22/04/21

Sector
Consumer Defensives
Size
Large Cap
Market Cap £8.57bn
Enterprise Value £10.01bn
Revenue £794.9m
Position in Universe 85th / 1829

Chr. Hansen Holding A/S Interim report Q1 2020/21

Thu 14th January, 2021 6:59am
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Company Announcement No. 01

Strong organic growth and good commercial traction; integration of
acquisitions on track
* Q1 2020/21 organic sales growth was 10%, equally split between volume/mix
and price, and driven by Health & Nutrition which delivered 15% growth while
Food Cultures & Enzymes delivered 8% growth
 * Underlying EBIT margin b.s.i. (see reconciliation on p. 20) of 28.5%, incl.
1%-point negative currency impact, compared to 29.0% in Q1 2019/20. Reported
EBIT margin b.s.i. (incl. all acquisition impacts) was 25.2%
* Integration of probiotic acquisitions well on track, but temporary capacity
constraints in HMO will phase part of expected FY21 revenues and capex to FY22
* Outlook for 2020/21 is unchanged on all key parameters
CEO Mauricio Graber says: “Our first quarter came in quite strong on a
relatively easy comparable from Q1 last year, with good performance across our
business, especially within Health & Nutrition. We were able to win new
business, launch new products in Food Cultures & Enzymes and drive upselling
in key markets such as cheese – all despite the difficulties of COVID-19. We
have more product launches scheduled for the current financial year, which
will help to ensure that we have a healthy commercial pipeline in the years to
come.

Chr. Hansen is on track to execute on our 2025 strategy and become a focused
bioscience company based on a unique microbial and fermentation technology
platform. This is a year of transition, where we need to secure a succesful
integration of the acquired businesses. We have started out strong, and we
will address any challenges that may arise in those processes head on and with
determination. The divestment process of Natural Colors is also on track and
the business delivered as expected.

Our outlook for 2020/21 remains cautious, and despite COVID-19 we are able to
maintain our outlook on all key parameters. This means that we will still
outgrow the underlying markets as we strive to deliver industry-leading growth
rates.”

Outlook for 2020/21

Organic revenue growth: 5-8%
EBIT margin before special items: 27-28%
Free cash flow before special items, acquisitions and divestments: EUR 120-160
million
The guidance for EBIT margin before special items and for free cash flow
before acquisitions and special items assumes constant currencies from the
time of this announcement and for the remainder of the financial year.

Conference call
Chr. Hansen will host a conference call today, January 14, 2021 at 10:00 am
CET. The conference call can be accessed via the Company’s website,
www.chr-hansen.com/investors.

For further information, please contact:

Martin Riise, Head of IR
+45 53 39 22 50

Annika Stern, IR Officer
+45 23 99 23 82

About Chr. Hansen

Chr. Hansen is a global, differentiated bioscience company that develops
natural ingredient solutions for the food, nutritional, pharmaceutical and
agricultural industries. At Chr. Hansen we are uniquely positioned to drive
positive change through microbial solutions. We have worked for over 145 years
to enable sustainable agriculture, cleaner labels and healthier living for
more people around the world. Our microbial and fermentation technology
platforms, including our broad and relevant collection of around 40,000
microbial strains, have game-changing potential. Matching customer needs and
global trends we continue to unlock the power of good bacteria to respond to
global challenges such as food waste, global health and the overuse of
antibiotics and pesticides. As the world’s most sustainable food ingredients
company, we touch the lives of more than 1 billion people every day. Driven by
our legacy of innovation and curiosity to pioneer science, our purpose – 
To grow a better world. Naturally. – is at the heart of everything we do.

Attachment
*     No. 1 2021 Interim report Sep 1 - Nov 30
(https://ml-eu.globenewswire.com/Resource/Download/bf406873-1d6a-40f5-b482-45832201869c)
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