Novonesis AS

Earnings Release • Aug 9, 2013

First-half performance as expected; full-year organic sales growth and EBIT
margin outlook maintained

The first half of 2013 came in as expected. Organic sales growth was 6% (5%
DKK, 6% LCY) compared with the first half of 2012. The gross margin improved by
0.7 percentage point. EBIT grew by 7%, and the EBIT margin increased by 0.4
percentage point to 24.6% compared with 1H 2012.

The full-year 2013 outlook is adjusted for the unfavorable development in
exchange rates since previous guidance and a positive effect from a lower
effective tax rate. Sales growth in DKK is now expected at 5-7%, EBIT growth at
4-6% and net profit growth at 7-9%. Furthermore, net investments excl.
acquisitions are expected to be lower at DKK 900-1,000 million and free cash
flow before acquisitions is adjusted upwards to around DKK 1,700 million.

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

“The first six months developed as expected. Sales and earnings picked up
during the period, and we're on track to meet our full-year organic sales
growth and margin guidance. We're working hard on our priorities of driving
innovation in the business and building our growth platforms, and I'm pleased
with the progress. In the first half of 2013 we’ve launched new and exciting
technology to Bioenergy and Household Care customers, we’ve made a bolt-on
acquisition within BioAg and, within biomass conversion, Beta Renewables’ – and
the world's – first commercial-scale biomass conversion plant started shipping
commercial volumes of ethanol.”

Read the full announcement in PDF format.