Strong fourth quarter triggers earnings upgrade

(PresseBox) ( Frankfurt/Main, )
Based on a solid and betterthanexpected performance in Q4 2009/10, we now upgrade group revenue for FY 2009/10 to around DKK 13.65 billion against our previous expectation of around DKK 13.4 billion which we announced in our Q3 release (1/2010, 18 March 2010). This is the result of good volumes and a stable pricing environment both in food ingredients and industrial enzymes.

Furthermore, we have experienced an attractive product mix and strong plant utilisation, and we therefore expect EBIT* of at least DKK 1,700 million. This corresponds to an earnings upgrade of over DKK 100 million compared to our previous outlook and reflects an EBIT margin (before Bio Chemical Projects) of at least 12.8%.

The momentum in profitability means that we have already met our financial milestone of 12.5% in EBIT margin (before Bio Chemicals Projects) in FY 2009/10.

We will release our full annual report for 2009/10, including management outlook for the coming financial year, on 22 June 2010.

* In this release, EBIT refers to EBIT before special items and sharebased payments unless otherwise stated
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