Novozymes A/S reported audited consolidated earnings results for the fourth quarter and year ended December 31, 2018. For the quarter, the company reported sales of DKK 3,714 million against DKK 3,673 million a year ago. Net profit was DKK 837 million against DKK 794 million a year ago. EPS was DKK 2.91 against DKK 2.71 a year ago. EPS (diluted) was DKK 2.89 against DKK 2.69 a year ago. Operating profit /EBIT was DKK 1,056 million against DKK 1,015 million a year ago.

For the year, the company reported sales of DKK 14,390 million against DKK 14,531 million a year ago. Net profit was DKK 3,227 million against DKK 3,120 million a year ago. EPS was DKK 11.11 against DKK 10.56 a year ago. EPS (diluted) was DKK 11.03 against DKK 10.49 a year ago. Operating profit /EBIT was DKK 4,070 million against DKK 4,047 million a year ago.

The company provided sales guidance for the first quarter, second half and earnings guidance for the full year 2019. For the year 2019, the company expects organic sales growth of 3%-6% and net profit growth of 0%-5%.

The first quarter of 2019 is expected to see a modest decline in organic sales year on year, mainly due to annualization of the Middle Eastern impact from the second half of 2018, a challenging Feed comparison and the enzyme price reductions in US baking coming to an end. Organic sales growth in the second half of the year is expected to be much stronger due to an easier Middle East comparison, the freshness platform in Household Care entering Europe, BioAg seasonality, an easing y/y price effect in US baking and Bioenergy volume growth picking up in the US market.