October 12, 2022 – Company announcement no. 7
Statement by CEO Mauricio Graber: “We have delivered a solid financial performance despite a volatile macroeconomic and geopolitical environment. Organic growth reached 9%, EBIT margin b.s.i. 26.8%, and the free cash flow b.a.s.i. ended at EUR 172 million in line with our latest guidance. Looking into 2022/23 we will continue to adapt to a changing business environment for both us and our customers and aim to deliver solid organic revenue and EBIT growth in 2022/23 as we progress on our strategic ambition to differentiate as a bioscience company focused on microbial and fermentation technology platforms.”
2021/22 highlights
- Revenue amounted to EUR 1,218 million, up 13% from EUR 1,077 million in 2020/21. Organic progress was 9% in 2021/22, primarily pushed by quantity progress. The Lighthouses (Bioprotection, Fermented Plant Bases, Plant Health and HMO) delivered 14% natural progress mixed, whereas the remaining core companies delivered 9% natural progress. Food Cultures & Enzymes natural progress was 7% and primarily pushed by quantity, however with a optimistic affect from pricing. Health & Nutrition natural progress was 14%, pushed by quantity.
- EBIT earlier than particular gadgets (b.s.i.) amounted to EUR 326 million, up 9% from EUR 298 million in 2020/21, whereas the EBIT margin b.s.i. was 26.8%, down from 27.7% in 2020/21. The lower was primarily pushed by a damaging affect from increased enter prices and elevated value ranges to mitigate challenges within the provide chain, which was partly offset by the sturdy gross sales efficiency, pricing initiatives and effectivity enhancements.
- Free money movement b.a.s.i. amounted to EUR 172 million, down from EUR 196 million final 12 months, because the money movement from working actions b.a.s.i. was impacted by increased taxes paid.
This autumn 2021/22 highlights
- Revenue amounted to EUR 328 million, up 12% from EUR 293 million in This autumn 2020/21. Organic progress was 6%, pushed by each worth and quantity progress. The Lighthouses confirmed 9% damaging natural progress attributable to order timing, whereas the remaining core companies delivered 7% natural progress. Food Cultures & Enzymes natural progress was 5%, primarily pushed by pricing. Health & Nutrition natural progress was 6%, pushed by quantity.
- EBIT earlier than particular gadgets (b.s.i.) amounted to EUR 91 million, up 9% from EUR 84 million in This autumn 2020/21, whereas the EBIT margin b.s.i. was 27.9%, down from 28.8% in This autumn 2020/21. The lower was primarily pushed by a damaging affect from increased enter prices and elevated value ranges to mitigate challenges within the provide chain, which was partly offset by pricing initiatives and a optimistic affect from currencies.
Dividend
Based on a 13% enhance in earnings per share to EUR 1.71, the Board of Directors proposes an odd dividend for 2021/22 of EUR 0.95 (DKK 7.04) per share, for a complete of EUR 125 million. The proposed odd dividend is equal to 55% of the revenue for the 12 months. Furthermore, the Board of Directors will consider the capability to distribute extra money by way of a protected harbour share repurchase programme or alternatively by way of a rare dividend throughout 2022/23 in step with the corporate’s capital allocation rules. Such an initiative intends to maintain Chr. Hansen at a monetary leverage according to a strong investment-grade credit score profile.
Outlook 2022/23
- Organic income progress is predicted to be within the vary of 7-10%. Revenue is predicted to be positively impacted by approx. 5% from trade charges
- EBIT b.s.i. is predicted to develop quicker than income, and EBIT margin earlier than particular gadgets is predicted to be within the vary of 27.0%-28.0%
- Free money movement earlier than particular gadgets is predicted to be within the vary of EUR 190-230 million
The outlook for 2022/23 is predicated on precise charges till October 11, 2022, and for the rest of the 12 months assuming fixed trade charges on the present degree of EUR/USD charge of 0.97. For additional particulars on the outlook for 2022/23 and the long-term ambition till 2024/25, please discuss with web page 10.
Contact particulars
Anders Mohr Christensen, VP Group Strategy & Investor Relations, +45 25 15 23 64
Cristina Rønde Hefting, Senior Investor Relations Manager, +45 40 72 12 24
About Chr. Hansen
Chr. Hansen is a world, differentiated bioscience firm that develops pure ingredient options for the meals, dietary, pharmaceutical and agricultural industries. At Chr. Hansen, we’re uniquely positioned to drive optimistic change by way of microbial options. We have labored for over 145 years to allow sustainable agriculture, higher meals and more healthy dwelling for extra individuals world wide. Our microbial and fermentation know-how platforms, together with our broad and related assortment of round 40,000 microbial strains, have game-changing potential. Matching buyer wants and world tendencies, we proceed to unlock the facility of fine micro organism to reply to world challenges reminiscent of meals waste, world well being and the overuse of antibiotics and pesticides. As the world’s most sustainable meals substances firm, we contact the lives of greater than 1 billion individuals on daily basis. Driven by our legacy of innovation and curiosity to pioneer science, our goal – To develop a greater world. Naturally. – is on the coronary heart of all the pieces we do.
