Statement of Results 2014/15 - 1 September 2014 - 31 August 2015

Udgivet den 21-10-2015  |  kl. 08:00  |  

Hoersholm, 2015-10-21 08:00 CEST (GLOBE NEWSWIRE) --  

Company announcement No. 17

“The progress in 2014/15 was very satisfactory and with organic growth of 10%, we delivered at the upper end of our Nature’s No. 1 growth ambition. The Cultures & Enzymes Division and the Health & Nutrition Division delivered solid organic growth of 9% and 13% respectively. The performance of the Natural Colors Division improved during the year, and with organic growth of 9% for the full year, the division delivered in line with our long-term ambition. The EBIT margin before special items ended at 27.1%, unchanged from 2013/14, as a positive impact from higher sales volume and the stronger USD was offset by increased research & development expenditures related to biological plant protection and the human microbiome initiative,” says CEO Cees de Jong.

“For 2015/16, we expect organic revenue growth of 8-10% and an EBIT margin before special items above the 27.1% in 2014/15.”

2014/15 in brief

2014/15 results

  • Revenue of EUR 859 million, compared to EUR 756 million in 2013/14, corresponding to organic growth of 10%. Revenue was positively impacted by changes in exchange rates, primarily by the appreciation of USD
  • EBIT before special items of EUR 233 million, compared to EUR 205 million in 2013/14. The EBIT margin before special items was 27.1%, unchanged from 2013/14
  • Income taxes of EUR 57 million, equivalent to an effective tax rate of 26%, compared to 27% in 2013/14
  • Profit for the year of EUR 163 million, compared to EUR 132 million in 2013/14
  • Free cash flow of EUR 151 million, compared to EUR 115 million in 2013/14
  • Net interest-bearing debt of EUR 488 million, or 1.7x EBITDA, compared to EUR 404 million, or 1.6x EBITDA, at 31 August 2014.

Q4 2014/15 results

  • Revenue of EUR 234 million, up 14% on Q4 2013/14, corresponding to organic growth of 11%
  • EBIT margin before special items of 31.1%, compared to 30.0% in Q4 2013/14
  • Free cash flow of EUR 86 million, compared to EUR 73 million in Q4 2013/14.

Dividend

  • Interim dividend of EUR 115 million declared in July 2015
  • An ordinary dividend for 2014/15 of EUR 0.63 (DKK 4.70) per share, or a total of EUR 82 million is proposed. The ordinary dividend is equivalent to 50% of the profit for the year.

OUTLOOK FOR 2015/16

Organic revenue growth:8-10%

Research & development expenditures incurred (% of revenue): 6.5-7.0%

EBIT margin before special items: above 2014/15

Free cash flow before acquisitions and divestments: above 2014/15

 

The Annual Report for 2014/15 was released today, 21 October 2015, and is available from www.chr-hansen.com.

    Vedhæftede filer:

    Corporate Governance Statement 1415.pdf

    Annual Report 1415.pdf

    No 17 2015 US.pdf

    Udgivet af: NPinvestordk

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