Last year, Novonesis had sales of more than 3.9 billion euros. This corresponds to around 29.4 billion kroner. This is 1.5 billion kroner more than the year before, according to the company's annual report. The company ended last year with a profit of 276.6 million euros, which corresponds to 2.063 billion kroner.
Novonesis is the combined company after the merger of Chr. Hansen and Novozymes, which was completed at the end of January. Overall, Novonesis delivered organic growth in sales of eight percent. The organic growth is calculated based on pro forma figures, where the revenue in the combined company has been calculated before the merger took effect.
Organic growth is an expression of the development in a company's revenue or profit excluding fluctuations in exchange rates and acquisitions or divestments of parts of the company. This can thus provide a more accurate picture of whether a company is actually growing or declining.
The company's two divisions, Food & Health Biosolutions and Planetary Health Biosolutions, ended with organic growth of seven and nine percent, respectively.
CEO: Excellent year
The company's CEO, Ester Baiget, describes 2024 as an "excellent year", with strong execution across the business.
- I am very satisfied with the overall performance in both sales and earnings, where we clearly deliver on the strength of our diverse portfolio of sustainable biosolutions, she says in the financial statements.
Novonesis produces, among other things, ingredients for cleaning products and foods such as milk, yogurt and cheese. The company also produces biofuel.
At the same time, the company has released expectations for the 2025 financial year. It states that it expects organic sales growth to end at five to eight percent.
This is in line with analysts' expectations, writes the media outlet MarketWire. The analysts expect organic growth of seven percent in 2025. In connection with the annual accounts, Novonesis also announces a share buyback of 100 million euros, equivalent to 745 million kroner.
A share buyback works by a company buying shares on the stock exchange and then canceling them. In this way, the value of the remaining shares becomes more valuable. It is a way for a company to distribute profits to shareholders in line with dividends.
/ritzau/
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