Full Year 2024 Novozymes A/S Earnings Call Transcript
Key Points
- Novonesis (Novozymes) B (NVZMF) achieved an 8% organic sales growth in 2024, driven by a 6% volume increase and a 2% contribution from pricing.
- The company successfully integrated two strong organizations, maintaining high employee engagement with a score of 82, well above industry benchmarks.
- Novonesis is on track to realize a full-year revenue synergy program of DKK200 million, with initial contributions expected in 2025.
- The company has made significant progress in sustainability, reducing Scope 1 and 2 CO2 emissions by 63% since 2018, and 93% of its electricity usage is from renewable sources.
- Novonesis launched 45 new products in 2024, with nearly 30% of revenue coming from products launched within the past five years, solidifying its innovation leadership in biosolutions.
- The decision to exit Russia and Belarus is expected to negatively impact 2025 organic sales growth by around 1 percentage point.
- The divestment of the lactase enzyme business impacted growth negatively by around 1 percentage point in 2024.
- The company faces risks and uncertainties that could cause actual results to differ materially from forward-looking statements.
- The adjusted earnings per share decreased by 15% compared to the previous year, despite a 15% increase when adjusted for merger-related PPA amortization.
- The exit from certain countries is expected to impact full-year organic sales growth in Food & Beverages by around 3 percentage points.
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Thank you very much, operator, and welcome, everyone, to the Novonesis conference call relating to the full year performance of 2024. My name is Tobias Björklund, and as I said, I'm heading up Investor Relations here at Novonesis.
In this call, our CEO, Ester Baiget; and our CFO, Rainer Lehmann, will review our pro forma performance for the year as well as outlook for 2025. Attending today's call, we also have Jacob Paulsen, EVP of Food & Beverage Biosolutions; Amy Byrick, EVP of Human Health Biosolutions; Tina Fanø, EVP of Planetary Health Biosolutions; and Claus Crone Fuglsang, Chief Scientific Officer.
The conference call will take about one hour, including Q&A. Please change to the next slide, and this is to remind you that the information presented during the call is unaudited and that management may make forward-looking statements.
These statements are based on current expectations and beliefs and they involve risks and uncertainties that could cause actual results to
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