Chr. Hansen Full-Year report 2023

Statement by CEO Mauricio Graber: “Supported by a strong Q4 performance, Chr. Hansen delivered a solid result for the first twelve months of the extended financial year 2022/23 at the upper end of our guidance with 11% organic revenue growth and an EBIT margin b.s.i. of 26.9%.

Highlights

• Revenue amounted to EUR 352 million, up 7% from EUR 328 million in Q4 2021/22. Year-to-date (September 1, 2022 – August 31, 2023) revenue amounted to EUR 1,334 million, up 10% from the same period in 2021/22.
• Organic growth was 16%, equally supported by both business areas. The Lighthouses delivered 41% organic growth combined in Q4, mainly driven by HMO, while the core businesses delivered 14% organic growth. Year-to-date Group organic growth was 11%. The Lighthouses delivered 24% organic growth, while the core businesses delivered 10% organic growth.
• EBIT b.s.i. amounted to EUR 99 million, up 8% from EUR 91 million in Q4 2021/22. The increase was driven by volume growth, a positive contribution from pricing initiatives, and stable operating expenses, which was partly offset by the negative impact of higher input costs and exchange rates.
• The EBIT margin b.s.i. was 28.0%, compared to 27.9% in Q4 2021/22, as the strong sales development including the impact from pricing initiatives were offset by the negative impact of higher input costs and exchange rates.
• Free cash flow b.a.s.i. amounted to EUR 202 million for the year to date, up 17% from EUR 172 million in the same period last year, driven by the improvement in operating profit and lower taxes paid, which was partly offset by a negative change in working capital.