Key figures

SALES AND EBIT
DKK million

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Sales
EBIT
ROIC AND INVESTED CAPITAL
DKK million
%

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Invested capital
ROIC
EFFICIENCY IMPROVEMENT COMPARED WITH 2005
%

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Water efficiency improvement
Energy efficiency improvement
CO2 efficiency improvement
NUMBER OF NOVOZYMES EMPLOYEES BY REGION
Employees

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Denmark
Rest of Europe, Middle East and Africa
North America
Asia Pacific
Latin America
    2012 2011 2010 2009 2008  
Income statement (DKK million)
Revenue 11,234  10,510  9,724  8,448  8,146 
Gross profit 6,423  5,908  5,412  4,700  4,359 
Research and development costs 1,527  1,464  1,360  1,207  1,096 
EBITDA 3,448  3,126  2,796  2,252  2,060 
Operating profit / EBIT 2,745  2,340  2,117  1,688  1,504 
Financial items, net (161) 75  (67) (85)
Net profit 2,016  1,828  1,614  1,194  1,062 
Balance sheet (DKK million)
Non-current assets 10,223  9,053  7,057  5,991  5,641 
Total assets 15,113  13,842  12,593  10,890  9,925 
Shareholders' equity 9,568  8,824  7,836  5,841  4,476 
Non-current liabilities 2,925  2,661  2,249  2,528  2,563 
Invested capital 10,998  9,843  8,182  6,790  5,856 
Net interest-bearing debt 1,430  1,019  346  949  1,380 
Investments and cash flows (DKK million)
Cash flow from operating activities 2,758  2,709  2,324  1,817  1,697 
Purchase of property, plant and equipment 1,128  1,290  1,326  1,009  902 
Net investments excluding acquisitions 1,177  1,316  1,326  978  942 
Free cash flow before net acquisitions 1,581  1,393  998  839  755 
Acquisition of activities and companies 732  1,530  23    -   -
Free cash flow 849  (33) 975  839  755 
Key ratios
Revenue growth, DKK % 15  10 
Revenue growth, LCY % 10  10  13 
Revenue growth, organic % 11  13 
Research and development costs as a percentage of revenue % 13.6 13.9 14.0 14.3 13.5
Gross margin % 57.2 56.2 55.7 55.6 53.5
EBITDA margin % 30.7 29.7 28.8 26.7 25.3
EBIT margin % 24.4 22.3 21.8 20.0 18.5
Net profit margin % 17.9 17.4 16.6 14.1 13.0
Effective tax rate % 22.0 24.3 24.0 26.3 25.2
Equity ratio % 63.3 63.7 62.2 53.6 45.1
Return on equity % 21.9 21.9 23.6 23.1 26.1
Return on invested capital (ROIC), including goodwill % 19.9 21.3 22.2 20.3 19.5
Return on invested capital (ROIC), excluding goodwill % 21.6 23.0 23.7 21.8 21.2
WACC after tax % 4.7 4.5 5.6 7.0 7.4
Earnings per share (EPS), diluted* DKK 6.33 5.71 5.05 3.79 3.37
Dividend per share (2012 proposed)* DKK 2.20 1.90 1.60 1.15 1.05
* 2008-2010 restated to reflect 1-to-5 stock split of the company’s A and B shares.
 
Environmental and social data
Water efficiency improvement (compared with 2005) % 32  30  29  27  23 
Energy efficiency improvement (compared with 2005) % 38  34  30  27  21 
CO2 efficiency improvement (compared with 2005) % 55  47  38  24  14 
Estimated CO2 reductions from customers' application of Novozymes' products Million tons 48  45  40  27  28 
Total number of employees No. 6,041  5,824  5,432  5,275  5,146 
Rate of employee turnover % 8.1  8.3  7.5  6.7  11.3 
Frequency of accidents with absence per million working hours 3.0  4.3  4.1  5.1  4.9 
Employee satisfaction Score 78  77  76  77  70 
Development opportunities Score 75  74  73  74  68 
Touch the World Score 83  n.a. n.a. n.a. n.a.
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