Chr. Hansen reports solid growth and an acquisition
Chr. Hansen, a global bioscience company that “develops natural solutions for the food, nutritional, pharmaceutical and agricultural industries,” reported strong earnings and announced the acquisition of Austrian-based dairy ingredient supplier Osterreichische Laberzeugung Hundsbichler GmbH (“Hundsbichler”) this week.
Hansen’s is having a good week: +5.5% in 5 days
SOURCE: Yahoo Finance
The company said that organic growth came in at 9%, and taking a foreign currency impact of 6% into account, corresponded to a revenue increase of 3% from the year-ago period to 1.1 billion euro. Earnings before interest and tax (EBIT) rose by 320 million euro from 307 million euro in the comparable quarter of last year, translating into 4% growth. Profit also increased year on year by 2% to 228 million euro.
Mauricio Graber, Hansen’s CEO, expressed his happiness with the company’s performance, and noted the strength of its food cultures & enzymes and health & nutrition divisions. He said:
“We achieved all the overall financial targets that we set at the beginning of the year, in spite of currency headwinds impacting both revenues and earnings. For the full year, food cultures & enzymes delivered strong organic growth of 12%, performing well above the long-term ambition of growing 7% to 8% per year, while health & nutrition and natural colours delivered moderate growth and grew by 8% and 5% respectively.”
Hansen also announced the acquisition of 71-year old Hundsbichler, a diary ingredients company. This, a press release said, will let it “expand its enzyme production and presence into the traditional segments of speciality cheeses.” Hansen’s senior commercial development manager, Michael Fooken Jensen, said:
“We’re very proud to take on Hundsbilcher’s high quality products and will do our utmost to deliver the same exceptional service levels that the customers have been used to. Chr. Hansen was founded on the discovery of animal rennet in 1874 and therefore has a strong tradition and expertise in this field, and we therefore believe that we can create true value for our new customers.”
Dominion holds Chr. Hansen in its Global Trends Managed Fund.
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