COPENHAGEN, Denmark – February 26, 2026. Novonesis delivered strong organic sales growth of 7% and an adjusted EBITDA margin of 37.1% in 2025. The company expects a good start to 2026 and a good year overall.
Ester Baiget, President & CEO:
Highlights of our full-year 2025 results:
• Broad-based organic sales growth of 7% (Q4: 4%) including the negative impact of exiting certain countries of ~1%-point (Q4: ~2%-points). Price contributed ~1%-point (Q4: ~1%-point) and sales synergies contributed ~1%-point (Q4: ~1%-point).
• Food & Health at 8% organic sales growth (Q4: 7%) including the negative impact of exiting certain countries of ~3%-points (Q4: ~5%-
points). Planetary Health at 6% organic sales growth (Q4: 2%, including double-digit growth in Energy).
• Emerging Markets grew 9% organically (Q4: 1%) including the exit from certain countries. Developed Markets grew 6% organically (Q4: 6%).
• Adjusted EBITDA margin at 37.1% (Q4: 36.6%), up by 100 bps (Q4: up by 40 bps) including one-off expenses in Q4 and currency headwinds
for both the quarter and the year. Adjusted gross margin at 59.1% (Q4: 59.9%) up by 240bps (Q4: up by 250bps).
• Adjusted net profit increased by 17% (Q4: flat).
• NIBD/EBITDA at 1.9x, and free cash flow before acquisitions at EUR 770.4 million, or 19% of sales.
• Proposed dividend of DKK 4.25/share. DKK 2.25/share interim dividend paid Aug. 27, 2025. 2025 pay-out ratio of 58.4% of adj. net profit.
• 33 new product launches in 2025 (Q4: 14). New innovations launched over the last 5 years made up 25% of sales.
• Achievement of all six environmental and social targets for 2025 and on track for future commitments.
• 2026 outlook: Organic sales growth between 5-7% with a good start to the year expected against a strong 2025 comparable. The outlook includes some uncertainty of potential lower consumer sentiment for the year. The outlook also includes ~1%-point from positive pricing and ~1%-point from sales synergies as well as close to 1%-point negative impact from exiting certain countries. The outlook for the
adjusted EBITDA margin is between 37-38% with an expected margin expansion, including currency headwinds of ~50 bps vs 2025.
Here is the link to the investor call on Novonesis full-year results for 2025: Novonesis Full-year financial statement for 2025 and annual report 2025
Get in touch
Line Fedders
Senior Media Relation Manager
media-relations@novonesis.com
+45 30 77 13 99
Tobias Bjorklund
Head of Investor Relations
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