Novozymes A/S to Discuss the Adjusted FY 2019 Outlook Call Transcript
Ladies and gentlemen, welcome to the Novozymes Conference Call. Today, I'm pleased to present Peder Holk Nielsen, President and CEO. (Operator Instructions) Just to remind you, this conference call is being recorded.
Please begin your meeting.
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Good afternoon and welcome to this Novozymes Conference Call. My name is Peder Holk Nielsen, and I'm the CEO of Novozymes. The full management team and Investor Relations attend this meeting. Tina is on the phone. Before we start, I want to thank you all for dialing in on such a short notice. Today's call will last about 30 minutes. The purpose of the call is to answer questions following yesterday's announcement. But before we dive into the Q&A, let me just sum up the main points.
The sales development for the first 9 month of 2019 has been below expectations, and we are not satisfied with the performance. Volatile markets in the U.S. ethanol, global agriculture and the starch processing
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