Novozymes 1H 2009: outlook for 2009

Novozymes 1H 2009: outlook for 2009

F O C U S has reported sales of $121 M ($181 M for its 1Q 2008) and operating income of $50 M ($81 M). LyondellBasell’s technology and R&D business se...

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F O C U S has reported sales of $121 M ($181 M for its 1Q 2008) and operating income of $50 M ($81 M). LyondellBasell’s technology and R&D business segment develops and licenses leading polyolefins process technologies and develops, manufactures and sells polyolefins catalysts. The operating results of the technology and R&D business segment vary primarily with the number and value of process licenses recognized in revenue during the period. 1Q 2009 was also negatively affected by changes in currency exchange rates and the effects of lower catalyst sales volumes. Currency exchange rates had an unfavourable effect as the dollar strengthened 15% versus the euro. LyondellBasell Industries Report 1Q 2009, 12 Jun 2009, 53-53 (LyondellBasell Industries, PO Box 2416, 3000 CK Rotterdam, The Netherlands. Tel: +31 10 275 5500. Website: http://www.lyondellbasell.com)

Novozymes 1H 2009: sales of detergent and technical enzymes Novozymes’ detergent enzyme sales totalled DKR 1307 M for 1H 2009 (1H 2008: DKR 1263 M) and its technical enzyme sales amounted to DKR 1225 M (1H 2008: DKR 1146 M). Key financial data are tabulated. Detergent enzyme sales were negatively affected by consumers’ trading down to lowerend detergents containing fewer enzymes and by reduced consumption of detergents. There is a continued strong interest across the detergent industry in reformulating future detergents to include more enzymes in place of petrochemical ingredients. Sales of textile enzymes continued to struggle as a result of the negative development in global textile volumes and a competitive environment, especially in Asia. Enzyme sales for starch conversion were flat. For 2Q 2009, detergent enzyme sales amounted to DKR 650 M (2Q 2008: 627 M) and technical enzyme sales totalled DKR 624 M (2Q 2008: 586 M).

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sales outlook in DKR is reduced to greater than 2%, reflecting less favourable exchange rate levels than at the time of the previous outlook. Full-year sales expectations are based on the assumptions that the 2009 US Renewable Fuel Standard (RFS) is sustained; that there is no further deterioration in global economic activity; and that current exchange rates are maintained for the remainder of 2009. Despite a reduced expectation for 2009 sales growth in DKR, lower full-year growth in costs and high productivity improvements enable expectations for operating and net profit growth to be maintained. Expected operating profit margin is maintained at 19-20%. The net investment level for 2009 is now expected to be DKR 1.2-1.3 bn as the new enzyme plant in Nebraska, US, and planned expansions of enzyme capacity at existing facilities have been restaged. Net investments are reduced by DKR 100-200 M in 2009 and around DKR 300 M in 2010. Free cash flow expectation for the full year 2009 is adjusted upwards to DKR 300-400 M as a result of the lower investment level, offset somewhat by a less favourable currency outlook.

Süd-Chemie 1H 2009: results for Catalyst Division

Novozymes Group Financial Statement 1H 2009, 13 Aug 2009, 8-9 (Novozymes A/S, Krogshojvej 36, 2880 Bagsvaerd, Denmark. Tel: +45 4446 0000. Fax: +45 4446 9999. E-mail: [email protected] Website: http://www.novozymes.com)

Süd-Chemie’s Catalytic Technologies Business Unit consists of four Industry Groups: Chemicals, Petrochemicals, Refinery, and Olefin Polymerization. After a weak start to 2009, the Catalytic Technologies Business Unit gained considerable ground during 1H 2009, thanks to its stable business performance. Over this period, higher sales of process catalysts in the Petrochemicals and Refinery Industry Groups boosted revenue to €217.5 M, representing an overall increase of €20.8 M compared with 1H 2008. As of the end of Jun 2009, the Business Unit was still reporting a satisfactory forward order level. Profit from operations (EBIT) fell however by €7.0 M to €30.4 M during 1H 2009. The main reasons for this were a significant drop in capacity utilization in some sectors, non-recurring expenses in connection with the closure of a production plant in Japan, losses from commodity hedging transactions and negative inventory valuation effects incurred at the beginning of the year. In spite of lower commodity costs and reduced overheads, it was not possible to

Showa Denko 2Q 2009 financial results

Novozymes 1H 2009: outlook for 2009

For its 1H 2009 (period ends 30 Jun 2009), the Electronics segment of Showa Denko KK has reported net sales of Yen 43.0 bn (Yen 101.1 bn for its 1H 2008), an operating loss of Yen 15.7 bn (operating income of Yen 7.5 bn), and capital expenditure of Yen 8.3 bn (Yen 12.4 bn). The company will build a 400 tonne/y carbon nanotubes plant at its Oita site. Commercial shipments will start in 1H 2010. The company has concluded a cross-licensing agreement with US company Hyperion Catalysis International Inc regarding patents in this area. Subsidiary company Showa Titanium Co Ltd has started production of a visible light responsive photocatalyst.

Novozymes is maintaining its 2009 sales growth outlook at slightly positive in local currencies, while

Showa Denko Results 2Q 2009, 31 Jul 2009 (Showa Denko KK, 13-9, Shiba Daimon 1-Chome Minato-ku, Tokyo 105-8518, Japan. Website: http://www.sdk.co.jp)

Novozymes Group Financial Statement 1H 2009, 13 Aug 2009, 3,17 (Novozymes A/S, Krogshojvej 36, 2880 Bagsvaerd, Denmark. Tel: +45 4446 0000. Fax: +45 4446 9999. E-mail: [email protected] Website: http://www.novozymes.com)

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Süd-Chemie’s Catalysts Division consists of two Business Units: Catalytic Technologies and Energy and Environment. During 1H 2009, the Catalysts Division boosted revenue by €13.5 M compared with 1H 2008, to €232.0 M. This positive increase in business volumes resulted from the excellent global market position held by the Catalytic Technologies Business Unit. Compared with 2008, profit from operations (EBIT) was down by €13.5 M to €21.1 M. Both Business Units suffered from this marked drop in earnings. Nevertheless, the division is meanwhile reporting a renewed upward trend in earnings. The number of employees in the Catalysts Division totalled 2253 at 30 Jun 2009, 18 less than at the end of 2008. Süd-Chemie AG Interim Results 1H 2009, 11 Aug 2009, 10 (Süd-Chemie AG, Lenbachplatz 6, 80333 Munich, Germany. Tel: +49 89 5110 0. Fax: +49 89 5110 375. Website: http://www.sud-chemie.com)

Süd-Chemie 1H 2009: results for Catalytic Technologies Business Unit

OCTOBER 2009