Novozymes released first quarter financial results on April 26, reporting that bioenergy sales were up 28 percent during the three-month period. Overall company sales were up 5 percent for the quarter.
According to Novozymes, the strong growth in bioenergy sales came in well ahead of expectations after a very strong ending to the quarter. The company said growth was partly driven by the timing of orders and more supportive market conditions. &ldquo;The strong underlying performance was driven by the continued penetration of the broad and innovative solution toolbox allowing for higher yields, throughput, and byproduct value-capture for producers in a market environment that turned more favorable towards the end of the quarter,&rdquo; Novozymes said in a statement.
The North American market experienced strong developments during the quarter despite an estimated 2 percent decrease in U.S. ethanol production. Novozymes said performance was also strong outside of North America, driven by innovation, capacity expansion of corn-based ethanol production in Latin America, and supported by growth in solutions for biodiesel production. Sales of enzymes used in second-generation biofuels production also contributed. Overall, growth was positively impacted by pricing, Novozymes added.
Bioenergy accounted for 23 percent of total company sales during the first quarter. Household care; food, beverages and human health; grain and tech processing; and agriculture, animal health and nutrition accounted for 27 percent, 22 percent, 13 percent and 15 percent of first quarter sales, respectively.
Total sales for the quarter were up 5 percent, with gains for bioenergy; household care; and agriculture, animal health and nutrition.
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Novozymes released first quarter financial results on April 26, reporting that bioenergy sales were up 28 percent during the three-month period. Overall company sales were up 5 percent for the quarter.



Novozymes: Q1 bioenergy sales up 28%

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