Chr. Hansen reports strong Q4 performance despite a challenging environment. 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%. Throughout the year, we have demonstrated the attractiveness of the markets we serve and the resilience of our business model, supported by a robust and agile organisation adapting to changing customer requirements in a challenging environment. Together with Novozymes, we continue the regulatory approval process in relation to the proposed merger with closing expected in the fourth quarter of the calendar year 2023 or the first quarter of the calendar year 2024.”
Q4 2022/23 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.
In light of the performance for the first eight months of 2023, the outlook is adjusted for organic revenue growth and free cash flow b.a.s.i., while maintained for EBIT margin b.s.i. Organic growth for the remaining four months of 2023 is expected to be driven primarily by price growth including a positive impact from EUR-based pricing.