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Novozymes meets 2014 sales targets, sees positive outlook for 2015
Last Updated: 2015-01-20 22:02 | Xinhua
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Industrial enzyme maker Novozymes of Denmark fulfilled its sales target for the year 2014 and expects a positive outlook in 2015, the company announced Tuesday.

Overall revenue was 12.46 billion Danish kroner (1.94 billion U.S. dollars) in 2014, up 6 percent from 2013, it said in its annual financial statement.

The bio-energy industry saw sales rise 19 percent, which were the most significant contributor to overall sales growth and made up for slower growth in food and beverages and household care, it added.

The company's EBIT (earnings before interest and tax) rose 17 percent to 3.38 billion kroner in 2014, up from 2.9 billion kroner in 2013. Meanwhile, net profit stood at 2.525 billion kroner, up 15 percent year-on-year.

"Novozymes is in a strong position today. Our technologies and solutions are in high demand," Novozymes CEO Peder Holk Nielsen said in the statement.

The company said partnering will become more important for bringing innovation to customers, and this is the outset for its new purpose and strategy.

"In the midst of a slow recovery and volatile markets, we expect 2015 to be another good year," Nielsen said.

In 2015, Novozymes expects sales growth of 13 to 15 percent, measured in Danish kroner. It also expects EBIT growth of 12 to 14 percent and the EBIT margin to be at 26 to 27 percent.

Novozymes launched its new purpose statement, strategy and updated long-term targets on Tuesday. Besides, a new stock buyback program worth up to 2 billion kroner is set to run in 2015. (1 U.S. dollar = 6.4 Danish kroner)

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