Kommentar: Novozymes er igen klar til at spå om resultatet for 2020. Novozymes ventede oprindeligt en organisk salgsvækst på 1-5 pct. og en overskudsgrad på cirka 27 pct. men det er nu ændret til en organisk salgsvækst på minus 2 til plus 2 pct., og en overskudsgrad på omkring 26 pct. Enzymer til vaskemidler og mikroorganismer steg med 11% i H1 mod -2% i H1 2019.
Novozymes skriver følgende om udsigterne for 2020:
2020 outlook: Novozymes reinstates its full-year 2020 organic sales outlook at -2% to +2%. Household Care, Food & Beverages and Agriculture & Feed are all expected to deliver mid-single-digit growth while Bioenergy and Technical & Pharma carry the most uncertainty in terms of the full-year performance. The EBIT margin is expected at around 26% supported by productivity improvements and cost control, while much weaker currency effects, lower operational leverage and the acquisition of PrecisionBiotics Group are all expected to hamper margin performance. The 2019 underlying EBIT margin was ~26%. Free cash flow before acquisitions is expected at DKK 2.4 to 2.8 billion with ROIC including goodwill at 18 to 19%. The stock buyback program totaling up to DKK 1.5 billion and the dividend policy and capital structure policy all remain unchanged.
