Novozymes' stock

During 2012, Novozymes returned more than DKK 1.4 billion to shareholders through dividends and share buybacks. The share price had a challenging 2012 and ended the year down 10%.

Novozymes' stock is listed on Nasdaq OMX Copenhagen and included in the OMX Copenhagen 20 index (OMXC20). The stock is listed under ticker code NZYM B and ISIN DK0060336014. Novozymes is registered with the Danish Business Authority under 10 00 71 27.

Share performance

Novozymes’ stock (DKK) 2012 2011
Share price, year-end 159.2 177.3
Total market value, year-end (billion)* 51.7 57.6
Earnings per share, diluted 6.33 5.71
Dividend per share 2.2** 1.9
* All A and B shares multiplied by the price of the B share
** Proposed

Novozymes' share price decreased by 10% during the year. In comparison, the OMXC20 gained 27%, the MSCI Pan Europe Index 13% and the Dow Jones Sustainability World Index 12%.

The average daily trading volume of Novozymes' stock in 2012 was 587,031 shares, or DKK 93 million, making it the seventh most actively traded company on Nasdaq OMX Copenhagen, compared with ninth in 2011. At year-end, the total market value of Novozymes' B shares was DKK 43.2 billion and the implied value of the nontraded A shares was DKK 8.5 billion.

Over the past five years, Novozymes' stock has generated an average annual return to shareholders of 7% (9% including dividends). This can be compared with a five-year average return without dividends of 1% for the OMXC20, (5)% for the MSCI Pan Europe Index and (5)% for the Dow Jones Sustainability World Index.

Share buyback program initiated and terminated in 2012

In 2011, it was decided to initiate a new share buyback program worth up to DKK 2 billion over a two-year period starting in 2012. The program was contingent upon no major acquisitions being made. In 2012, Novozymes bought back shares worth a total of DKK 831,847,334 between January 20 and October 29. The buyback program was terminated with the announcement of the strategic partnership with, and acquisition of an equity position in, Beta Renewables.

The B common stock is expected to be reduced by DKK 10,600,000 from DKK 542,512,800 to DKK 531,912,800 by canceling part of the holding of treasury B stock. The cancellation of shares is subject to approval at the Annual Shareholders' Meeting on February 28, 2013.

To ensure there is no negative impact on the liquidity of Novozymes' stock, the principal shareholder, Novo A/S, has agreed to keep its relative holding of B shares at the current level (25.5% of common stock) following Novozymes' cancellation of shares as a result of the stock buyback program.

Dividends

The Board of Directors proposes that the Annual Shareholders' Meeting approve a dividend of DKK 2.2 per share for the 2012 financial year. This will result in an expected total dividend payment of approximately DKK 687 million, corresponding to a payout ratio of 34.1%. Novozymes plans to increase the payout ratio to 35% over the next 1-2 years.

Distributions 2012 2011 2010 2009 2008
Dividends (DKK million) 687* 599 504 358 326
Stock buybacks (DKK million) 832  400 0 0 0
Total (DKK million) 1,519* 999 504 358 326
Net profit (DKK million) 2,016 1,828 1,614 1,194 1,062
Payout ratio (%)  34.1* 32.8 31.2 30.0 30.7
Number of shares outstanding,
year-end (million)**
312 315 315  311  310
Dividend per share (DKK)** 2.2* 1.9 1.6 1.15 1.05
* Proposed
** 2008-2010 are restated to reflect 1-to-5 stock split of the company’s A and B shares

Dividend dates 2013

 
Resolution adopted at the Annual Shareholders' Meeting February 28
Last day of trading with right to dividend for 2012 February 28
First day of trading without right to dividend for 2012 March 1
Disbursement of dividend March 6

Equity analysts

The following companies have analysts covering Novozymes’ stock:

  • ABG Sundal Collier
  • Alm. Brand Markets
  • Carnegie
  • CA Cheuvreux Nordic
  • Citi
  • Credit Suisse
  • Danske Markets
  • Deutsche Bank
  • DnB NOR Markets
  • Goldman Sachs
  • Handelsbanken Capital Markets
  • Jefferies & Company
  • J.P. Morgan
  • Jyske Bank
  • Kempen & Co.
  • Nordea Markets
  • Nykredit Markets 
  • SEB Enskilda Equities
  • Standard & Poor's
  • Sydbank
  • UBS

Sustainability ratings

Providing information on sustainability performance to analysts, rating agencies and asset managers is an important element of Novozymes' interaction with shareholders. We continuously seek to improve our sustainability reporting and processes, and value this interaction highly. In 2012, Novozymes was:

  • Reconfirmed as a member of the Dow Jones Sustainability World Index and the Dow Jones Sustainability STOXX Index. Named as sector leader for the 11th time and awarded a Gold Class rating for 2011 performance in SAM's Sustainability Yearbook 2012
  • Ranked fifth in the Carbon Disclosure Project's Nordic Carbon Disclosure Leadership Index 2012 with a score of 94 out of 100
  • Ranked among top three in the health care sector by Bloomberg in the Global Corporate Renewable Energy Index (CREX) 2012
  • Reconfirmed as one of The Global 100 Most Sustainable Corporations in the World
  • Reconfirmed as a member of the ET Global 300 Carbon Index
  • Reconfirmed as a member company of the FTSE4Good Index

Shareholders

Novozymes' common stock consists of two types: A shares and B shares, both with a nominal value of DKK 2 per share. All A stock is held by Novo A/S, and an A share carries 10 times as many votes as a B share.

A stock B stock Total
Common stock (DKK) 107,487,200 542,512,800 650,000,000
Number of shares 53,743,600 271,256,400 325,000,000

Number of votes
1,074,872,000 542,512,800 1,617,384,800
Voting rights (%) 66.5 33.5 100

At the end of 2012, Novo A/S held 25.5% of the total common stock and, through its holding of the A stock and a proportion of the B stock (29,131,400 shares), controlled 70.1% of the votes. Novo A/S is wholly owned by the Novo Nordisk Foundation, and Novozymes is therefore included in the consolidated financial statements of the Novo Nordisk Foundation. Novo A/S is domiciled in Hellerup, Denmark.

At year-end, Novozymes had roughly 50,000 shareholders, of whom 99% were private shareholders in Denmark. Twenty institutional investors, including Novo A/S, owned approximately 55% of the B shares. Around 70% of the B shares were held outside Denmark.

Novozymes held 4.7% of the B stock, equivalent to 3.9% of the total common stock.

Besides Novo A/S, only one shareholder, Baillie Gifford & Co., held more than 5% of Novozymes' common stock on December 31, 2012.

Financial calendar

Group financial statement for 2012 January 21, 2013
Annual Shareholders' Meeting 2013 February 28, 2013
Interim report for the first 3 months of 2013 April 25, 2013
Interim report for the first half of 2013 August 9, 2013
Interim report for the first 9 months of 2013 October 25, 2013
Group financial statement for 2013 January 23, 2014

Contact Investor Relations

Visit our Investor site at www.novozymes.com for investor relations guidelines, presentations, tools and downloads, Group financial statements and other information for both private and institutional shareholders.

If you have questions for Investor Relations, please contact:

Maarit Pokkinen 
Head of Investor Relations 
Tel.: +45 4446 8682 
E-mail: mpok@novozymes.com

Martin Riise
Senior Investor Relations Manager, Europe
Tel.: +45 4446 0738
E-mail: mrsn@novozymes.com

Thomas Steenbech Bomhoff
Senior Investor Relations Manager, USA
Tel.: +1 919 494 3483
E-mail: tsbm@novozymes.com

 

Over the past five years, Novozymes' stock generated an average annual return to shareholders of 7% (9% including dividends).

2012 INDEXED SHARE PRICE DEVELOPMENT
Index

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Novozymes B
OMXC20
MSCI Pan Europe
DJSI
FIVE-YEAR INDEXED SHARE PRICE DEVELOPMENT
Index

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Novozymes B
OMXC20
MSCI Pan Europe
DJSI

The Board of Directors proposes that the Annual Shareholders' Meeting approve a dividend of DKK 2.2 per share for the 2012 financial year.

Novozymes was named sector leader for the 11th time and awarded a Gold Class rating for 2011 performance in SAM's Sustainability Yearbook 2012.

SHAREHOLDER DISTRIBUTION OF B COMMON STOCK

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Denmark
North America
UK
Novo A/S
Treasury stock
Rest of world
Rest of Europe

Delivering to the stock market

Novozymes’ Chief Financial Officer takes stakeholders through the company’s key financial figures, results and deals of 2012, and the forecast for growth in 2013 and beyond.

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