Novonesis (Novozymes) B (OTCPK:NVZMF)
$ 60.875 1.133 (1.9%) Market Cap: 28.48 Bil Enterprise Value: 30.18 Bil PE Ratio: 38.65 PB Ratio: 2.42 GF Score: 97/100

Q1 2019 Novozymes A/S Earnings Call Transcript

Apr 24, 2019 / 07:00AM GMT
Release Date Price: $46.69 (-2.97%)
Peder Holk Nielsen;S;President;CEO
Novozymes A

/-&

Good morning, and welcome to the Novozymes Conference Call. Today, we'll review our performance for the first 3 months of 2019 as well as the outlook and key priorities for the year. Our presentation should take around 20-25 minutes, and after that, we'll take your questions.

My name is Peder Holk Nielsen. I'm the CEO of Novozymes. I'm joined here today by the Executive Leadership Team and Investor Relations.

Please turn to Slide #2. We had a 4% decline in organic sales in the first quarter. While most industries delivered according to expectations, our Bioenergy business came in below. The U.S. ethanol business was more challenged than we expected. The slowdown in ethanol production was a bit larger than anticipated, and on top of that floods in the U.S. Midwest from mid-March and onwards made the tough situation even worse. It continues to affect our sales into April. Like other ag and ag service companies have announced, Novozymes does not expect to recover the lost sales.

Already have an account? Log in
Get the full story
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot