Group Ebit (before bio chemicals projects – BCP) came in at DKK 1.8bn. This reflects a margin of 13.1%, a 3.2 percentage point margin expansion Y/Y, driven by all divisions aside from sweeteners.
Profit for the group came in at DKK 481m after the previously announced DKK 796m in special items related to sweeteners (including DKK 700m goodwill writedown).
CEO Tom Knutzen said: “Throughout the year, we have experienced a positive earnings momentum, including four earnings upgrades, and meeting our financial milestone of a 12.5% Ebit margin (before BCP) well ahead of plan. In FY 2010/11, we expect to meet our long-term margin ambition of 13.5% (before BCP).
“We propose an ordinary dividend for the year of DKK 8.50 per share (last year DKK 7.50) as well as an additional, extraordinary dividend of DKK 8.50 per share reflecting the substantial debt reduction we have achieved both from the sale of Danisco Sugar and from operations.”
© FoodBev Media Ltd 2020
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