Chr Hansen reports organic growth of 10%
The first quarter of 2021 saw organic sales growth of 10% over 2020 for cultures and enzymes supplier Chr Hansen, equally split between volume/mix and price, and driven by health and nutrition, which delivered 15% growth, while food cultures and enzymes saw 8% growth. The firm noted that the integration of probiotic acquisitions was well on track, and the divestment of its natural colours business was also occurring as expected.
CEO Mauricio Graber says: “Our first quarter came in quite strong on a relatively easy comparable from the first quarter last year, with good performance across our business, especially within health and nutrition. We were able to win new business, launch new products in food cultures and enzymes and drive upselling in key markets such as cheese – all despite the difficulties of Covid-19. We have more product launches scheduled for the current financial year, which will help to ensure that we have a healthy commercial pipeline in the years to come.
“Chr Hansen is on track to execute on its 2025 strategy and become a focused bioscience company based on a unique microbial and fermentation technology platform. This is a year of transition, where we need to secure a successful integration of the acquired businesses. We have started out strong, and we will address any challenges that may arise in those processes head on and with determination. The divestment process of natural colours is also on track and the business delivered as expected.
“Our outlook for 2020/21 remains cautious, and despite Covid-19 we are able to maintain our outlook on all key parameters. This means that we will still outgrow the underlying markets as we strive to deliver industry-leading growth rates.”