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Ingredient giant Danisco annouces year-end results 01 Jul 2009
One of the food ingredient market leaders, Danisco posted revenue of DKK 13.0 billion, up 6% Y/Y (4% organic growth) in FY 2008/09.
Group profit for the period closed at DKK 72 million (DKK 108 million after minorities).
CEO Tom Knutzen commented, “This year has been marked by achievements and challenges for Danisco. We executed the Sugar divestment in line with our commitment to stakeholders – and for the continuing part of Danisco our strategic priorities remain intact. We have the right platform to accommodate the opportunities and challenges of the future through innovation, sustainability and focus.
However, we also recognise the necessity to improve our performance through higher earnings, better utilisation of our capital employed and reductions in our net working capital. These are all prerequisites for meeting the demands of our stakeholders going forward and to deliver superior value creation.”
Full-year group revenue up by 6% Year over Year. Full-year organic growth in food Ingredients was 3%. Full-year EBIT of DKK 1,248 million, a result of margin improvements in Enablers and in Cultures.
Regarding the outlook for 2009/10, company representatives say they recognise the currently high levels of economic and financial uncertainty.
Nevertheless, they have decided to maintain the usual level of detail in their outlook also for FY 2009/10. Danisco expects organic revenue growth of 3-4%, EBIT of around DKK 1,300 million (this year DKK 1,248 million) and group profit for the year of around DKK 650 million.
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