In the first half of 2024, Novonesis delivered 7% organic sales growth with an adjusted EBITDA margin at 35.3%. Following strong first half-year performance, Novonesis increases its full-year organic sales outlook from 5-7% to 7-8% and increases adjusted EBITDA-margin expectations from 35-36% to 35.5-36.5%.
COPENHAGEN, Denmark – August 27, 2024. Novonesis delivers 7% organic sales growth with an adjusted EBITDA margin at 35.3% in the first half of the 2024 financial year, and now expects an organic sales growth of 7-8% with an adjusted EBITDA margin of 35.5%-36.5%. The sales growth is broad-based and driven by both Food & Health Biosolutions and Planetary Health Biosolutions.
“We continue to execute strongly across the business, and I am very pleased with the first half-year performance delivering a broad-based 7% organic sales growth and an adjusted EBITDA margin of 35.3% on a pro forma basis. We increase full-year expectations and now expect an organic sales growth of 7-8% with an adjusted EBITDA margin of 35.5%-36.5%. Synergy realization and prioritization continues to be in focus throughout the company. We see good progress on the integration, including high employee engagement, and the momentum with customers continues to be strong,” says Ester Baiget, President & CEO.
Divisional sales performance
In the first half of 2024, Food & Health Biosolutions grew 6% organically, while Planetary Health Biosolutions grew 8% organically.
In Food & Health Biosolutions, Food & Beverages grew 8% organically driven by strong growth in Dairy and solid development in Baking. In Human Health organic sales growth was flat in line with expectations. Sales to the anchor customer in Advanced Protein Solutions contributed strongly as expected. This was somewhat offset by an expected soft start to the year in HMO as well as in Dietary supplements due to a strong comparable and order timing.
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