Novonesis Reports Strong Q3 Growth in 2024
Company Announcements

Novonesis Reports Strong Q3 Growth in 2024

Novozymes A/S – ADR ( (NVZMY) ) has released its Q3 earnings. Here is a breakdown of the information Novozymes A/S – ADR presented to its investors.

Novonesis is a global leader in biosolutions, utilizing microbiology to innovate across more than 30 industries, enhancing production, consumption, and sustainability. The company has reported a robust 9% organic sales growth for the first nine months of 2024, with a particularly strong 11% in the third quarter. This performance is largely driven by their Food & Health Biosolutions and Planetary Health Biosolutions divisions, prompting an optimistic outlook for the full-year organic sales growth to reach the upper end of their 7-8% target.

The key highlights from Novonesis’s financial performance include an 8% growth in Food & Health Biosolutions and a 9% growth in Planetary Health Biosolutions. Specifically, Food & Beverages saw a 9% increase, while Household Care achieved a remarkable 15% growth. Regional performance was strong as well, with emerging markets reporting a 14% growth, significantly contributing to the overall positive results.

In developed markets, sales increased by 6%, led by Household Care and supported by Food & Beverages and Agriculture, Energy & Tech sectors. Meanwhile, emerging markets showed a robust 14% growth, driven by widespread demand across all areas. The company confirms its adjusted EBITDA margin between 35.5-36.5%, projecting continued strength into the year’s second half.

Looking ahead, Novonesis remains optimistic about its capacity to sustain growth and capitalize on its diversified portfolio and innovative strengths. With a solid foundation set by the recent performance, the company anticipates ongoing demand for its sustainable biosolutions, poised to deliver further value and innovation in the biosolutions industry.

Related Articles
Austin AngeloIs NVZMY a Buy, Before Earnings?
TheFlyNovonesis downgraded to Sell from Neutral at Citi
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App