Chr. Hansen Holding A/S reported unaudited earnings results for the first quarter ended November 30, 2017. For the quarter, the company's revenue was €254.5 million against €241.7 million a year ago. Operating profit (EBIT) was €64.7 million against €64.6 million a year ago. Profit before tax was €60.4 million against €61.8 million a year ago. Profit for the year was €46.5 million against €47.0 million a year ago. Profit attributable to shareholders of the company was €46.5 million or €0.35 per basic and diluted share against €47.0 million or €0.35 per diluted share a year ago. Cash flow from operating activities was €4.2 million against €2.4 million a year ago. Investments in intangible assets were €3.3 million against €3.0 million a year ago. Investments in property, plant and equipment was €19.9 million against €21.7 million a year ago. Negative free cash flow was €19.0 million against €93.0 million a year ago. EBITDA before special items was €80.0 million against €79.5 million a year ago. EBIT was €64.7 million against €64.6 million a year ago. Net interest-bearing debt as on November 30, 2017 was €646.5 million against €645.2 million a year ago.

The company reaffirmed earnings guidance for the fiscal year 2017/18, organic revenue growth is expected to be 8% to 10%. Free cash flow before acquisitions, divestments and special items is expected to be around the EUR 188 million. The EBIT margin before special items is expected to be around the 28.9%. The company continues to expect that reported revenue growth will be around 4 percentage points lower than organic growth, especially driven by the weaker U.S. dollar.