Novozymes 2006 Earnings Up 11% on Sales of Enzymes for Ethanol Production

25 January 2007

Sector revenue 2005 and 2006. Click to enlarge.

Novozymes, a global biotech-based world leader in enzymes and microorganisms, saw its earnings increase 11% in 2006 on a sales increase of 8%. Much of the growth occurred in its technical enzymes sector, specifically driven by sales for ethanol production.

Total sales in 2006 rose by 8% to DKK 6.802 million (US$1.18 million) from DKK 6.281 million (US$1.09 million) in 2005. Measured in local currencies, growth was 9%. Operating profit rose by 11% to DKK 1.340 million (US $232,600), compared with DKK 1.206 million (US$209,000) last year.

Sales of technical enzymes rose by 23% in DKK in 2006 compared with the previous year. Measured in local currencies, growth was 24%. The main factor in this development was the growth in sales of enzymes for fuel ethanol.

—Novozymes report

In October 2006, Broin and Novozymes announced a new collaboration to take the next steps needed to bring cost-effective ethanol derived from corn stover (cellulosic ethanol) to market. The collaboration is an extension of earlier significant partnerships between the two companies. (Earlier post.)

Novozymes is also partnering with SunOpta’s BioProcess Group and China Resources Alcohol Corporation (CRAC) for research and development on cellulosic ethanol production at the CRAC facility in ZhaoDong City, Heilongjiang Province, China. (Earlier post.)