Novonesis provides outlook for 2024 with expected 5-7% organic sales growth and ~35% adj. EBITDA margin. Pro forma financials disclosed.
Ester Baiget, CEO of Novonesis, said: “Today we provide key pro forma numbers as well as the first outlook for our new company. On a pro forma basis, 2023 was a solid year for Novonesis, including a Chr. Hansen that on a stand-alone basis delivered well in range of its latest full year outlook. We expect a solid 2024 performance with overall organic sales growth of 5-7% including growth across all subareas, and a strong margin development. We will continue to update you with key numbers as we move along, and we are already comfortably building the foundation for a new era in biosolutions.”
The historical pro forma financials for Novonesis are reported as a combination of the historical financials provided by
Sales will be reported at the following detailed level:
Food & Health Biosolutions:
- Food & Beverages combines Novozymes’ Food & Beverage and Chr. Hansen’s Food Cultures & Enzymes.
- Human Health combines Novozymes’ Human Health and Advanced Specialty Proteins businesses and Chr. Hansen’s Human Health business including HMO.
Planetary Health Biosolutions:
- Agriculture, Energy & Tech combines Novozymes’ Bioenergy,
Agriculture & Animal Health / Nutrition, Grain & Tech Processing and Chr. Hansen’sAnimal & Plant Health . - Household Care includes Novozymes’ Household Care.
2023 pro forma financials
- 7% organic sales growth in 2023 was driven by price of around 5% and volumes at around 2%.
- Gross Margin is indicated at 55.0% following sales/cost allocation adjustments to harmonize reporting (see under ‘Pro forma financial measures.’)
- Adjusted* EBITDA margin and adjusted* EBIT margin were 33.8% and 25.7% respectively.
- CAPEX-to-sales in 2023 was around 12%.
- NIBD/EBITDA ratio was 1.7x.
- Adjusted EPS was at
EUR 1.52 . - Free cashflow before acq. will be published once available, latest in 1H.
* See definition in section “Non-IFRS financial measures and definitions”.
Please read the full announcement in PDF.
Attachment
- 2024_11_Outlook_and_proforma
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