Chr Hansen A/S : Q3 Factsheet 2020/21

Factsheet
Q3 2020/21													---
														______
		Q3	Q3	YTD	YTD				Q3	Q3		YTD	YTD
		19/20	20/21		19/20	20/21				19/20	20/21		19/20	20/21
Income statement, continuing operations (EUR m)				Growth drivers, continuing operations (%)
Revenue	256.1	280.6		715.7	784.1		Organic growth	9%	4%	6%	8%
Gross profit	153.2	160.7		427.3	444.0		Volume/mix		na	2%		na	4%
EBITDA b.s.i.	105.7	106.6		279.6	287.5		Price		na	2%		na	4%
EBIT b.s.i.	88.3	82.4		229.2	213.9		Currencies	-4%	-5%	-2%	-8%
EBIT	85.4	71.2		224.1	192.1		M&A		na	11%		na	10%
Net financial items	(1.3)	(5.1)		(9.1)	(16.1)		EUR growth	5%	10%	4%	10%
Group profit for the period	70.0	681.6		178.8	776.0
		Organic growth by region, continuing operations (%)
							EMEA	9%	3%	3%	5%
Cash flow and investments, continuing operations (EUR m)
Operating cash flow	114.6	96.0		205.9	193.0		NA	2%	5%	6%	7%
Operational investing cash flow	(23.1)	(22.2)		(67.5)	(94.9)		LATAM	21%	19%	16%	30%
M&A	(119.4)	(0.8)		(119.4)	(318.2)		APAC	12%	-6%	5%	0%
Free cash flow b.s.i.a.d.	94.4	85.0		143.5	119.9
		Food Cultures & Enzymes (EUR m / %)
								Revenue	181.2	180.6	519.8	514.6
Balance sheet, Group (EUR m)
Total assets				2,267.2	3,066.5		Organic growth	8%	5%	5%	7%
Invested capital				1,971.6	2,794.1		Volume/mix	4%	2%	4%	2%
Net working capital				252.9	227.6		Currencies	-5%	-5%	-2%	-8%
Equity				840.7	1,548.1		M&A		na	na		na	na
Net interest-bearing debt				902.2	950.6		EUR growth	3%	0%	3%	-1%
								EBITDA	74.5	71.6	206.1	201.4
Key ratios (%)
Continuing operations							EBITDA margin	41.1%	39.7%	39.7%	39.1%
Gross margin	59.8%	57.3%		59.7%	56.6%		EBIT	62.3	59.6	171.1	162.6
EBITDA margin b.s.i.	41.3%	38.0%		39.1%	36.7%		EBIT margin	34.4%	33.0%	32.9%	31.6%
EBIT margin b.s.i	34.5%	29.3%		32.0%	27.3%		ROIC excl. goodwill				38.9%	34.6%
Underlying EBIT b.s.i. margin1	na	33.1%		na	30.9%
		Health & Nutrition (EUR m / %)
R&D	8.0%	8.2%		8.5%	8.4%		Revenue	74.9	100.0	195.9	269.5
Capex	9.0%	7.9%		9.4%	12.4%		Organic growth	12%	0%	6%	9%
ROIC excl. goodwill	38.0%	25.3%		34.0%	23.7%		Volume/mix	13%	0%	7%	8%
ROIC	20.2%	11.8%		17.8%	11.1%		Currencies	-2%	-4%	1%	-7%
Net debt to EBITDA b.s.i.				2.1	2.3		M&A	2%	38%	<1%	36%
								EUR growth	12%	34%	7%	38%
Revenue split by	Revenue split by			EBITDA	31.2	35.0	73.5	86.1
business, YTD	region, YTD				EBITDA margin	41.7%	35.0%	37.5%	32.0%
								EBIT	26.0	22.8	58.1	51.3
			APAC				EBIT margin, %	34.7%	22.7%	29.7%	19.0%
H&N		18%
				EMEA		Underlying EBIT margin1		na	33.2%		na	29.2%
34%
		LATAM		39%
					ROIC excl. goodwill				24.3%	12.0%
		12%
FC&E							1 See Q3 2020/21 company		announcement, p. 20,	for reconcilation of
66%							underlying margins.

NA 31%