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Novozymes posts 360-mln-USD net profit for 2012


13:24, January 22, 2013

Beijing, Jan. 21 (Xinhua) -- Danish enzyme maker Novozymes posted a 360-million-U.S. dollar profit in 2012 backed by strong sales growth of household care and feed enzymes, the company said on Monday.

Earnings before interest and tax (EBIT) rose 17 percent to 2.745 billion kroner (494 million dollars), up from 2.340 billion kroner in 2011, while the EBIT margin rose to 24.4 percent.

Overall revenue stood at 11.2 billion kroner, representing an increase of 7 percent, as compared to 2011.

"We delivered strong earnings growth and record profitability in a year when organic sales growth was challenged and came in at 4 percent -- below our ambition," said Novozymes CEO Steen Riisgaard in a statement.

The company said it remains confident of reaching its "long-term sales growth target of more than 10 percent, although not until 2015."

Meanwhile, Novozymes appointed Peder Holk Nielsen as President and CEO with effect from April 1, 2013.

Nielsen, 56, currently serves as executive vice president and head of enzyme business, and has previously held various management positions in Novozymes and Novo Industri/Novo Nordisk.

He will succeed Riisgaard, who steps down after 12 years at the company's top post and 33 years in Novozymes and Novo Industri/Novo Nordisk.

"With our sustainable solutions and close customer relationships, we have a very strong position for expanding our business, and I am convinced we will deliver on our long-term growth targets in the coming years," Nielsen said. (1 Danish krone = 0.18 U.S. dollar)

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