Novonesis A/s Class B · OMXCOP:NSIS_B
Novonesis A/s Class B — Novozymes — Q1 2023 Earnings Presentation
12 slides from Novonesis A/s Class B's earnings presentation, Apr 26, 2023
Slide 1: Conference call Q1 2023
Conference call Q1 2023 April 26, 2023
Slide 2: Forward Looking Statement
Forward Looking Statement Disclaimer This presentation and its related comments contain forward-looking statements, including statements about future events, future financial performance, plans, strategies and expectations. Forward-looking statements are associated with words such as, but not limite
Slide 3: Stronger than expected start to the year; 5% organic sales growth and 26% EBIT margin
Stronger than expected start to the year; 5% organic sales growth and 26% EBIT margin before special items Sales and financial performance 2023 outlook confirmed • Organic Q1 sales growth y/y: 5%. Reported DKK sales growth: 6%. • 4-7% organic sales growth with growth across all business • Growth sup
Slide 4: Household Care
Household Care 27% of sales Solid performance with growth mainly driven by price • Organic Q1 sales growth y/y: 2%. • Pricing had a positive impact on growth, more than offsetting negative impact from industry volume softness • Solid performance in developed markets across most subareas while Organi
Slide 5: Food, Beverages & Human Health
Food, Beverages & Human Health 22% of sales Soft performance driven by tough comparator as expected • Organic Q1 sales growth y/y: -8%. • Difficult comparator that included very strong sales across subareas and a positive timing effect. • Lower volumes partly offset by positive pricing as expected.
Slide 6: Bioenergy
Bioenergy 23% of sales Strong performance driven by innovation, penetration and timing of orders • Organic Q1 sales growth y/y: 28%. • Growth mainly driven by innovation and penetration in North America, Organic sales performance (y/y) despite declining U.S. ethanol production, as well as capacity e
Slide 7: Grain & Tech Processing
Grain & Tech Processing 13% of sales Growth in Grain offset by declining Tech • Organic Q1 sales growth y/y: -9%. • Tech declined due to significantly lower sales of enzymes for Covid-19 test kits and a soft textile market. • Performance supported by growth in Grain driven by market penetration Orga
Slide 8: Agriculture, Animal Health & Nutrition
Agriculture, Animal Health & Nutrition 15% of sales Strong performance driven by Animal Health & Nutrition • Organic Q1 sales growth y/y: 19%. • Performance driven by strong growth in Animal Health & Nutrition including a positive timing of orders. • Agriculture was more muted impacted by a volatile
Slide 9: Financial results Q1 2023
Financial results Q1 2023 • Organic Q1 sales growth y/y: 5%. Reported DKK sales growth: 6%. • Gross margin at 54.1%; 1.4pp lower y/y due to higher input and logistics costs. Prices, productive improvements and currencies had a positive impact but not enough to fully offset the higher input cost. • E
Slide 10: Financial outlook 2023
Financial outlook 2023 • Organic sales growth of 4-7% with sales in reported DKK roughly 3 percentage points lower. • EBIT margin b.s.i. at 25-26%. • ROIC** b.s.i. expected at 16-17%. 2023 Outlook *** Sales performance, organic % 4-7 EBIT margin b.s.i.* % 25-26 ROIC** b.s.i* % 16-17 For modeling pur
Slide 11: Key milestones since the announcement of the combination with Chr. Hansen
Key milestones since the announcement of the combination with Chr. Hansen Announcement The Danish Tax Financial Outlook The U.S. antitrust Extraordinary Expected of combination Assessment confirmed and regulation waiting General Meeting: completion Council announcement of period has expired, Approva
Slide 12: Summary
Summary • Stronger than expected start to the year including some timing of orders. • Solid pricing with underlying volume growth. • Sequential improvements in gross margin and EBIT margin. • 2023 outlook maintained across key parameters. • Continuing to execute on strategic agenda and working dilig