Chr. Hansen based in Denmark, experienced strong growth in the third quarter and maintains the outlook for the year, according to the interim Q3 results published recently.
"With organic growth of 10% and solid margins in Q3, Chr. Hansen continued the strong performance from Q2, and we maintain our outlook for the full year, expecting organic revenue growth of 7-9% and an EBIT margin before special items above 26%," says CEO Cees de Jong.
"Implementation of our Nature's No. 1 strategy remains a key focus area. It's encouraging to see the successful application of the new fermentation capacity for cultures in Copenhagen and the progress in our other strategic initiatives such as the strengthening of our position in emerging markets and creating fuel for growth through strong cost focus and scalability".
Highlights first nine months 2013/14
- Revenue EUR 551 million, compared to EUR 545 million in the first nine months of 2012/13
- Organic growth 7%
- EBIT before special items and impairments EUR 143 million, compared to EUR 141 million last year
- EBIT margin before special items and impairments of 26.0%, compared to 25.9% last year despite the negative impact of 1.1 percentage points from lower level of capitalization of development costs
Third quarter 2013/14 results
Revenue EUR 198 million, up 3% on last yearOrganic growth 10%EBIT margin before special items and impairments 27.8%, compared to 27.6% last year despite a negative impact of 0.7 percentage point from research & development costs
Outlook for 2013/14
The outlook for 2013/14 is unchanged from the announcement of 9 April, 2014
Organic revenue growth is expected to be 7‐9%.
The EBIT margin before special items is expected to be above 26%.
To comment, login here
Or register to be able to comment.