Stock Exchange Announcement, Novozymes; Group Financial Statement for First Half of 2006.FRANKLINTON, N.C. -- Novozymes (PINK SHEETS: NVZMF) (CSE (Certified Systems Engineer) See Microsoft certification. : NZYM) maintains the high earnings level. Growth in sales and operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of 8% and 10% respectively for the first half of 2006 is in line with the company's expectations. The full-year outlook for earnings remains unchanged, while the outlook for free cash flow is increased to DKK DKK In currencies, this is the abbreviation for the Danish Krone. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. (Danish Kroner) 850-950 million. --Sales rose by 8% to DKK 3,282 million from DKK 3,037 million in the first half of 2005. Measured in local currencies, sales rose by just over 5% --Operating profit rose by 10% to DKK 657 million from DKK 597 million in 2005 --The operating profit margin Operating profit margin The ratio of operating profit to net sales. for the first half of 2006 was 20.0%, compared with 19.7% in the same period of 2005 --Net financial costs were DKK 66 million against DKK 8 million in 2005 --Profit before tax was DKK 591 million, largely on a par with the first half of 2005 --Net profit for the period was DKK 443 million, marginally higher than the figure of DKK 441 million in 2005. Earnings per share for the period (diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. ) were DKK 6.72, an increase of approximately 4% --Free cash flow before acquisitions rose by 25% to DKK 600 million, compared with DKK 480 million in 2005 --Return on invested capital (ROIC ROIC Return On Invested Capital ROIC Return On Investment Capital ROIC Readout Integrated Circuit ROIC Resident Officer In Charge ROIC Regional Office Implementation Committee ) was 19.7%, the same as last year Outlook for 2006 Novozymes maintains its outlook for 2006 as published in January 2006. However, the outlook for free cash flow is being adjusted upwards from DKK 750-850 million to DKK 850-950 million, mainly as a result of taxrelated one-off items. Growth in sales is expected to remain at 7-9% in DKK and 6-8% in local currencies. Operating profit is expected to grow at 7-9%, while growth in net profit is expected to be 5-7%. |
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