Novonesis AS

Earnings Release • Jan 21, 2014

2013 as expected; positive 2014 outlook

All financial targets were met or exceeded for 2013 following a good fourth
quarter. Organic sales growth was 7% (5% DKK, 8% LCY), EBIT grew by 6% and net
profit by 9%, and the EBIT margin increased by 0.3 percentage point to 24.7%
compared with 2012.

2014 is expected to show a continuation of trends seen in 2013. As a result,
the outlook for 2014 is positive with good underlying sales and EBIT growth.
The outlook includes the expected financial impact from The BioAg Alliance with
Monsanto. The BioAg Alliance does not affect the outlook for organic sales
growth, but is expected to have a negative impact on sales growth in LCY and
DKK of up to one percentage point. The BioAg Alliance is expected to have a
positive impact on the EBIT margin of between a half and a full percentage
point. All in all, including The BioAg Alliance, Novozymes expects organic and
LCY sales growth of 6-9%, sales growth in DKK of 4-7%, EBIT growth of 6-9% and
an EBIT margin of 25-26%.

Peder Holk Nielsen, President and CEO of Novozymes, comments:

“Today we close the books on an eventful 2013 for Novozymes. We delivered a
good finish to the year and ended at the high end of our guided ranges for
sales growth and above that for earnings. We also signed a number of landmark
agreements within Biomass Conversion and BioAgriculture that will enable
Novozymes to change the world together with its customers. The outlook for 2014
is positive. We expect that our diversified growth platform will enable us to
deliver good sales and EBIT growth. We also expect that The BioAg Alliance will
receive the final green light from regulators soon, so we can hit the ground
running on developing novel, game-changing BioAg solutions for farmers
worldwide.”

Read the full announcement in PDF format.