As expected, Novozymes announced strong Q1 20 numbers. Sales were up 10%, on an organic basis, to DKK3.74bn, driven by broad-based growth across segments (except technical & pharma), while EBIT came in at DKK1.1bn with the margin expanding by 3.2pp to 28.9%. The 2020 outlook remains suspended in light of the COVID-19 uncertainties. However, the dividend policy and buy-back programme (DKK1.5bn in FY20) remain unchanged. We do not expect any significant change to our estimates/recommendatio
01 May 2020
Q1 20: A COVID-19 conundrum?
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Q1 20: A COVID-19 conundrum?
Novonesis A/S Class B (NZYM:WBO) | 0 0 2.6% | Mkt Cap: 80,754m
- Published:
01 May 2020 -
Author:
Virendra Chauhan -
Pages:
3
As expected, Novozymes announced strong Q1 20 numbers. Sales were up 10%, on an organic basis, to DKK3.74bn, driven by broad-based growth across segments (except technical & pharma), while EBIT came in at DKK1.1bn with the margin expanding by 3.2pp to 28.9%. The 2020 outlook remains suspended in light of the COVID-19 uncertainties. However, the dividend policy and buy-back programme (DKK1.5bn in FY20) remain unchanged. We do not expect any significant change to our estimates/recommendatio