The Danish enzyme producer Novozymes ends the year with a profit of 3.7 billion kroner. This is approximately 500 million more than the year before. This is shown in the company's annual report on Thursday morning.
The growth has been helped along by the fact that the Bioenergy business unit has had growing pains during the period. Here, enzymes are produced that are used in the production of biodiesel, and here sales were 25% above the level in 2021. In 2022, the division accounted for 21 percent of the company's total revenue.
One of the company's largest business areas is enzymes for the food industry. This part of the business accounts for 19 percent. Novozymes' total revenue last year was almost 17.6 billion kroner, which is 17 percent more than the year before.
However, there is more skepticism regarding the future prospects. The accounts show that the company expects organic growth of between four and seven percent. in 2023.
Merger on the way
According to Ester Baiget, CEO of Novozymes, they continue to build momentum by having clear priorities. She says this in a comment on the financial statements.
- The organic sales growth of nine percent in 2022 makes us confident about our prospects in 2023 despite the volatile market environment. We continue to change to ensure that Novozymes captures the right opportunities, it continues.
Baiget refers, among other things, to the large merger of which the company is a part, which was announced towards the end of last year. Novozymes is joining forces with another Danish enzyme giant, namely Chr. Hansen.
Initially, it will be in the name of Novozymes. In the longer term, however, the plan is to develop a common name and brand. The merger must first be approved by the relevant authorities and finally adopted at the companies' general meetings.
If it happens, it is expected to be completed between the fourth quarter of 2023 and the first quarter of 2024.
/ritzau/
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