Solid Q1 supports the outlook for 2022/23
Statement by CEO
We will maintain a clear and strong focus on executing on our targets for the financial year 2022/23 while preparing for the proposed merger with
Q1 2022/23 highlights
- Revenue amounted to
- Organic growth was 10% in Q1 2022/23 driven by a mix of volume and price growth. Food Cultures & Enzymes organic growth was 8% mainly driven by price initiatives, but with good volume growth above underlying markets. Health & Nutrition organic growth was 12% driven by volume. The Lighthouses (Bioprotection, Fermented Plant Bases,
- EBIT b.s.i. amounted to
- The EBIT margin b.s.i. was 24.7%, up from 24.4% in Q1 2021/22. The improved margin was due to a positive contribution from exchange rates, which was partly offset by continuing inflationary pressures, despite ongoing price initatives.
- Free cash flow b.a.s.i. amounted to
- On
Outlook
The current exchange rate level for the EUR/USD stands at 1.07 versus 0.97 at the time of the initial 2022/23 outlook provided on
Organic revenue growth
7-10%
7-10%
Impact from exchange rates on revenue
Neutral
5%
EBIT b.s.i. growth compared to revenue
In line
faster
EBIT margin b.s.i.
26-27%
27-28%
Free cash flow b.a.s.i.
The outlook for 2022/23 is based on actual exchange rates until
Chr. Hansen is a global, differentiated bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. At Chr. Hansen we are uniquely positioned to drive positive change through microbial solutions. We have worked for over 145 years to enable sustainable agriculture, better food and healthier living for more people around the world. Our microbial and fermentation technology platforms, including our broad and relevant collection of around 40,000 microbial strains, have game-changing potential. Matching customer needs and global trends we continue to unlock the power of good bacteria to respond to global challenges such as food waste, global health and the overuse of antibiotics and pesticides. As one of the world's most sustainable companies, we touch the lives of more than 1 billion people every day. Driven by our legacy of innovation and curiosity to pioneer science, our purpose - To grow a better world. Naturally. - is at the heart of everything we do.
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