Novozymes Posts Solid Q1 Sales

Sales of household care enzymes and food & beverages enzymes were the strongest growth contributors in the first quarter 2011 at Novozymes. Corporate sales grew by 16% to $534.7 million for the quarter.

“I’m very pleased to see that we’re off to a solid start in 2011. We saw good underlying demand across most industries and all geographies, and the integration of our recent BioAg acquisition is well under way,” says Steen Riisgaard, president and company CEO. “Despite the recent depreciation of the US dollar, it’s very satisfying to see that our strong operational performance allows us to maintain the EBIT growth expectation for the full year. Last but not least, around two weeks ago, construction of the world’s first commercial-scale cellulosic biofuel plant was initiated by a collaboration partner in Italy, expected to be ready in 2012. This sends a strong signal that
technology for commercial cellulosic biofuel production is ready for deployment.”

Household Care Enzymes sales increased 13% to $165.3 million. According to the company, the strong growth was continuously driven by increased enzyme penetration across detergent tiers to enhance wash performance, enable low temperature washing and replace traditional chemicals in detergent formulations. Also, sales of Household Care enzymes to the emerging markets were a particularly strong growth driver in the period.