Novonesis Increases Semiannual Billing by 7% and Increases Expectations for 2024

Novonesis raises its forecasts. The Danish company reports organic sales growth of 7%, with an adjusted EBITDA margin of 35.3% in the first half of 2024. Based on these figures, the former Novo Nordisk spin-off expects to close the year with organic sales growth of between 7% and 8%, with an adjusted EBITDA margin of between 35.5% and 36.5%.

According to a company statement, Novonesis sales growth is “broad-based” and driven by both the Food&Health Biosolutions and Planetary Health Biosolutions divisions. In the first half of 2024, Food&Health Biosolutions grew 6% organically, to €876 million, while Planetary Health Biosolutions grew 8% in the same way, to €1.07 billion .

In Food&Health Biosolutions, Food&Beverages grew by 8%, driven by strong growth in dairy and solid development in baking. In Human Health, organic sales growth remained stable in line with expectations. In Planetary Health Biosolutions, Household Care grew by 15%, also organically.

All regions contributed to the double-digit growth of Novonesis. Agriculture, Energy&Tech grew by 4% organically. The increase in this case was driven by double-digit growth in the energy division and supported by a significant boost in the technology area, while agriculture showed a weaker development .

For the first half of 2024, Novonesis organic growth rates by business area were 8% in Food & Beverage, 15% in Household Care and 4% in Agriculture, Energy and Technology, while they remained the same in Human Health .

Regional performance for Novonesis

In the first half of 2024, emerging markets grew by 15% organically, while developed markets grew by 3%. In emerging markets, organic sales growth was driven by double-digit growth across all sales areas.

In developed markets, growth was driven by strong growth in home care and food and beverage. This was partially offset by weak performance in human health and agriculture, energy and technology .

For the first half of 2024, Novonesis organic growth rates by region were 7% in Europe, Middle East and Africa, 2% in North America, 14% in Asia Pacific and 12% in Latin America.

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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