Novozymes reports strong growth in Q3

Novozymes notes solid results for nine months of 2017, with 4% organic revenue growth.

Novozymes, a leading global industrial biotechnology company, announced its financial results for the nine months of 2017, noting solid results with 4% organic revenue growth (up 8% in the third quarter).

Breaking it down by category, the company said household care was up 2%, food and beverages were up 9%, bioenergy was up 10%, agriculture and feed were down 2% and technical and pharma were off 3%. The company reported its earnings before interest and taxes (EBIT) margin at 27.9%.

Peder Holk Nielsen, president and chief executive officer of Novozymes said, “We grew revenue by 8% organically in the third quarter and by a satisfying 4% in the first nine months. This was better than expected. The EBIT margin was solid, as was free cash flow, and although there is still some uncertainty regarding the fourth quarter, especially within agriculture-related industries, we are adjusting the full-year outlook. With stronger innovation and a well-diversified business showing good, solid momentum, we are positive looking ahead.”

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