Yet another disappointing quarter for Novozymes – in fact, it witnessed a decline at both the organic and reported level for the first time in a long period. Both sales and net income were below (all ~ 6%) our, as well as consensus, expectations as all the segments turned negative organically, except for the smaller Technical & Pharma (+16%). The reported sales decline of 4% at the group level was a function of 3% organic contraction and 1% negative currency impact, to DKK3.4bn. Seg
14 Nov 2016
Weak Q3 triggers another guidance downgrade
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Weak Q3 triggers another guidance downgrade
Novonesis A/S Class B (NZYM:WBO) | 0 0 2.6% | Mkt Cap: 80,754m
- Published:
14 Nov 2016 -
Author:
Jyoti Prakash -
Pages:
3
Yet another disappointing quarter for Novozymes – in fact, it witnessed a decline at both the organic and reported level for the first time in a long period. Both sales and net income were below (all ~ 6%) our, as well as consensus, expectations as all the segments turned negative organically, except for the smaller Technical & Pharma (+16%). The reported sales decline of 4% at the group level was a function of 3% organic contraction and 1% negative currency impact, to DKK3.4bn. Seg