April 29, 2020 / 6:28 AM / a month ago

BRIEF-Novozymes Q1 EBIT Above Estimates At DKK 1.10 Bln

April 29 (Reuters) - Novozymes A/S:

* REG-INTERIM REPORT FOR Q1 2020

* Q1 REVENUE DKK 3.79 BILLION VERSUS DKK 3.74 BILLION SEEN IN REFINITIV POLL

* Q1 EBIT DKK 1.10 BILLION VERSUS DKK 1.02 BILLION SEEN IN REFINITIV POLL

* FULL-YEAR SALES GROWTH INDICATIONS FOR HOUSEHOLD CARE AND FOOD & BEVERAGES REMAIN LARGELY INTACT, BUT WITH HIGHER VOLATILITY

* BASED ON CURRENT INSIGHT AND THE ASSUMPTION THAT NOVOZYMES’ AND ITS CUSTOMERS’ LOGISTICS WILL CONTINUE TO FUNCTION RELATIVELY NORMALL

* Q1 NET PROFIT DKK 815 MILLION (REFINITIV POLL DKK 792.15 MILLION)

* SOCIAL DISTANCING AND ‘STAY-AT-HOME’ ORDERS CREATES UNCERTAINTY ABOUT FULL-YEAR DEVELOPMENTS, MAINLY IN OUR BIOENERGY BUSINESS

* STOCK BUYBACK PROGRAM TOTALING UP TO DKK 1.5 BILLION WILL CONTINUE AS PLANNED

* COMPANY’S DIVIDEND POLICY AND ITS CAPITAL STRUCTURE POLICY ARE UNCHANGED

* BUYBACK PROGRAM TOTALING UP TO DKK 1.5 BILLION WILL CONTINUE AS PLANNED AND THE DIVIDEND POLICY AND CAPITAL STRUCTURE POLICY ARE UNCHANGED. Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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