reports
Q1 update: Novonesis delivers 4% organic sales growth in line with exp...
Q1 update: Novonesis delivers 4% organic sales growth in line with expectations and reports progress on the integration For the first quarter as Novonesis, the company delivers 4% organic sales growth in line with expectations. Novonesis maintains the 2024 outlook of 5-7% organic sales growth with an adjusted EBITDA margin of around 35%. COPENHAGEN, Denmark – May 3, 2024. In the first three months of the 2024 financial year, Novonesis delivers 4% organic sales growth against a strong comparator. The organic sales growth in the first quarter is driven by both Food & Health Biosolution...
Trading statement Q1 2024
Trading statement Q1 2024 Novonesis realized 4% organic sales growth in line with expectations and maintains 2024 outlook. Ester Baiget, President & CEO: “I am pleased with the first quarter organic sales growth of 4% with growth in both Food & Health and Planetary Health. We are off to a good start in line with expectations and very well on track to deliver 5-7% organic sales growth for the full year with an adjusted EBITDA margin of around 35%. It’s highly comforting to see our new organization’s focus on both short and long-term deliverables and developments.” Pro forma sales perfo...
Resolutions from the annual shareholders’ meeting 2024
Resolutions from the annual shareholders’ meeting 2024 Today an ordinary shareholders’ meeting was conducted. The following resolutions were made:• Approval of the audited Annual Report for 2023• Approval of distribution of profit with payment of an ordinary dividend of DKK 2.00 or EUR 0.27 per A/B share of DKK 2 for the last four months (September 1 - December 31) of 2023. Legacy Novozymes shareholders will then have received a total pay-out of the 2023 adjusted net profit of DKK 6.20 per share, which equals an increase of 3% compared with 2022.• Approval of the Remuneration Report fo...
- ABGSC Media Research
- Derek Laliberté
- ABGSC Media Research
- Derek Laliberté
- Joachim Gunell
Storytel (Buy, TP: SEK75.00) - The plot thickens
We believe recent insider trading and EQT’s board representative not standing for re-election could signal a potential shift in the shareholder base and direction for Storytel, which could create some short-term uncertainty, but also trigger a strategic review. We reiterate our BUY and SEK75 target price as we see potential upside to Storytel’s 2024 EBITDA margin guidance with a step change in FCF generation driving an undemanding valuation, with a 2025e EV/EBITDA of 7x, P/E of 19x and OpFCF yie...
Invitation to the annual shareholders’ meeting
Invitation to the annual shareholders’ meeting The annual shareholders’ meeting will be held on Tuesday April 30, 2024 at 4:00 pm CET at Bella Center, Center Boulevard 5, Denmark. The distribution of profit will be addressed at the meeting and the Board of Directors proposes an ordinary dividend of DKK 2 or EUR 0.27 per A/B share for the last four months (September 1 - December 31) of 2023. This equals a pay-out ratio of 53.2% of Novonesis’ adjusted net profit for the four-month period. Following the approval of the proposed dividend, legacy Novozymes shareholders will have received a ...
Share-based legacy RSU program granted
Share-based legacy RSU program granted Share-based legacy RSU program granted Novonesis’ Board of Directors has following the merger with Chr. Hansen Holding A/S (“Chr. Hansen”) today approved the continuation in 2024 of a legacy Chr. Hansen annual short-term incentive program comprising of up to 125,000 restricted share units (RSUs) for around 130 legacy Chr. Hansen key employees below the Executive Management level. Receipt of the RSUs is subject to specified KPIs and criteria supporting performance and retention. The KPIs include personal targets and financial performance indi...
- Håkon Astrup
Scope for continued strong earnings
Seeing support from still-high interest rates and sound fundamentals, we expect solid NII and robust asset quality to contribute to continued strong earnings generation for the banks, despite the stable and eventually falling key policy rate trajectory. Trading at an average 2025e P/E of ~8.5x (adjusted for undistributed 2023 dividends), we continue to find the valuation undemanding. We maintain a positive view on the sector and highlight SVEG as our top pick.
2024 outlook and pro forma financials
2024 outlook and pro forma financials 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 ...
Novonesis will host a conference call regarding 2024 outlook and 2023 ...
Novonesis will host a conference call regarding 2024 outlook and 2023 pro forma financials on March 21 Novonesis will host a conference call regarding 2024 outlook and 2023 pro forma financials on March 21 at 9.00am CET. To join the live webcast, please click . To register and receive access details for the conference call, please click . Attachment
Resolutions from the Extraordinary Shareholders’ Meeting 2024
Resolutions from the Extraordinary Shareholders’ Meeting 2024 Company Announcement no. 10 March 4, 2024Today an extraordinary shareholders’ meeting was conducted. The following resolutions were made: Adoption of Novonesis A/S as secondary name and amendment of the Articles of Association in accordance herewithElection of Jesper Brandgaard as Vice Chair of the Board of DirectorsElection of Lise Kaae, Kevin Lane and Kim Stratton as members of the Board of Directors Following the extraordinary shareholders’ meeting, the Board of Directors consists of the following members: Cornelis ...
- Joachim Gunell
Storytel (Buy, TP: SEK75.00) - Unveiling the next chapter
The share price is up 130%+ since its October-lows, and we believe we have reached an inflection point. The SEK672m writedown of Audiobooks.com and less focus on its 15 expansion markets marked the end of the turnaround, in our view. In its next chapter, management is building credentials of overperformance and the 2024 guidance looks to be in reach. We believe Storytel offers investors sustainable double-digit organic sales growth, attractive profitability, strong FCF ramp-up and an undemanding...
Invitation to an extraordinary shareholders’ meeting of Novozymes A/S
Invitation to an extraordinary shareholders’ meeting of Novozymes A/S An extraordinary shareholders’ meeting of Novozymes A/S will be held on Monday March 4, 2024 at 4:00 pm CET at Boege Alle 10-12, 2970 Hoersholm, Denmark. Attachments
- Håkon Astrup
Sparebank 1 SMN (Buy, TP: NOK161.00) - Continued core revenue momentum
Supported by sustained core revenue tailwinds, a NOK414m one-off gain from SpareBank 1 Markets and still-low loan losses, MING reported a strong Q4 ROE of 18.9%, despite elevated cost inflation. The board proposed a 2023 DPS of NOK12.0, implying a ~74% payout ratio and an 8.4% dividend yield. Trading at a 2025e dividend-adjusted P/E of ~8.3x, we continue to find the valuation undemanding and reiterate our BUY and NOK161 target price.
The Novozymes Report 2023
The Novozymes Report 2023 This annual report has been released subsequent to the approval of the combination of Novozymes and Chr. Hansen on January 29, 2024. The new combined group is called Novonesis. As an annual report is required to cover the activities of a group during a financial year, this report only discloses Novozymes’ financial and non-financial performance in 2023. Non-financial elements concerning the combined group, Novonesis, are provided in separate and clearly labeled sections. Read more about Novonesis in the section The next step on our strategic journey. T...
Trading by management and close relations of management
Trading by management and close relations of management Trading by management and close relations of management In accordance with article 19 in Regulation (EU) No 596/2014 of 16 April 2014 on market abuse (the Market Abuse Regulation) and commission delegated regulation (EU) 1052/2016 of 8 March 2016, Novozymes reports the following transactions under ISIN DK0060336014, Novozymes B shares under the symbol NZYM B. The Executive Leadership Team has on February 1st, 2024 from Novozymes A/S received the allocated shares from the incentive program for the period 2021-2023. An o...
Settlement of the combination of Novozymes and Chr. Hansen Holding suc...
Settlement of the combination of Novozymes and Chr. Hansen Holding successfully completed Settlement of the combination of Novozymes and Chr. Hansen Holding successfully completed February 2, 2024Company announcement No. 07 On January 29, 2024, following the satisfaction of all conditions precedent, the combination of Novozymes A/S ("Novozymes") and Chr. Hansen Holding A/S ("Chr. Hansen") by way of a statutory merger of the two companies (the "Combination") was successfully completed. Reference is made to Novozymes' company announcement no. 2 of January 29, 2024. As previously...
Legacy Novozymes delivers solid last full-year results
Legacy Novozymes delivers solid last full-year results Legacy Novozymes is delivering solid growth and earnings in a year characterized by changing market demands, with 6% organic sales growth in Q4 and 5% organic sales growth in 2023. This marks the last financial reporting from legacy Novozymes, and the new company, Novonesis, is already a reality. COPENHAGEN, Denmark – February 1, 2024. In the 2023 financial year, legacy Novozymes delivers 5% organic sales growth – 6% organic sales growth in the fourth quarter alone – an EBIT-margin before special items[*] of 25.4%, and ROI...
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