Novozymes saw solid growth in 2014 and increased sales by 7 percent as compared to 2013. The company also reports that the outlook for 2015 is good. Following a strategic business review, the company has released a new purpose statement, strategy and updated long-term targets. Through 2020, Novozymes targets annual organic sales growth of 8-10 percent on average. Novozymes is best known in the biofuels and biomaterials (biochemicals) markets for its enzymes.

”2014 was a good year for Novozymes with 7% organic sales growth and a record EBIT margin”, said Novozymes CEO Peder Holk Nielsen. “Bioenergy was the strongest growth driver, making up for slower growth in Food & Beverages and Household Care. Our growth platforms showed good progress, and in particular I’m excited about how well The BioAg Alliance has gotten off the ground.

“Novozymes is in a strong position today. Our technologies and solutions are in high demand. Going forward, we believe partnering will become more important for bringing innovation to customers,” continued Holk. “This is the outset for our new purpose and strategy – Partnering for impact. In extension of this, we’ve updated our long-term targets. Long-term organic sales growth is expected to be slightly lower than the previous target, whereas we increase the long-term targets for EBIT margin and return on invested capital. In the midst of a slow recovery and volatile markets, we expect 2015 to be another good year for Novozymes.”