Chr. Hansen Q1 net profit increases

Chr. Hansen A/S, a producer of natural ingredients to the food, beverage, dietary supplements, and agricultural industries, has reported that net profit for the first quarter ended November 30, 2012 was $32.1 million, or E0.24 per diluted share, compared to E26.4 million, or E0.19 per diluted share, for the same quarter of 2011.

Revenue for the first quarter ended November 30, 2012 was E178.5 million, compared to E167.6 million for the same quarter of 2011.

Gross profit for the first quarter ended November 30, 2012 was E93.2 million, compared to E82.8 million for the same quarter of 2011.

EBITDA for the first quarter ended November 30, 2012 was E59 million, compared to E52 million for the same quarter of 2011.

"The solid momentum in the Cultures & Enzymes Division continued with 10% organic growth driven by our innovative product portfolio. The Health & Nutrition Division also delivered solid organic growth of 9% while sales in the Natural Colors Division were soft as expected, primarily due to lower carmine prices and volumes. Our operating profit continued to grow faster than revenue and our profitability also increased with an EBIT margin of 26.7% compared to 24.5% in Q1 last year," comments CEO Lars Frederiksen.

"Our outlook for 2012/13 remains unchanged and we expect organic revenue growth between 8-10% (excluding carmine price effect) and an EBIT margin above 2011/12."