Interim report 9M 2026
Summary by AI BETAClose X
Novozymes reported 9M organic sales growth of 7% (Q3: 6%) and an adjusted EBITDA margin of 37.9% (Q3: 38.3%), 60bps above prior year; NIBD/EBITDA was 1.7x and free cash flow before acquisitions was 17% of sales while CAPEX-to-sales was 10.2%. Food & Health grew 9% (Q3: 8%) and Planetary Health 6% (Q3: 4%); developed markets +7% and emerging markets +6%, all reflecting negative effects from exiting certain countries. 2026 guidance was confirmed at 7–8% organic growth (around 1pp headwind from exits) with adjusted EBITDA margin at the higher end of 37–38% and Q4 organic growth indicated at high-single-digit. Acquisition of the remaining 77% of MicroBioGen completed and EUR 14.8m of a EUR 75m buyback has been executed.
Strong Q3 sales leading to 9M at 7% organic sales growth and adj. EBITDA margin of 37.9%. 2026 outlook confirmed: 7-8% organic sales growth and adj. EBITDA margin at the higher end of the 37-38% range.
Ester Baiget, President & CEO: “With strong sales and profitability, we continue to demonstrate the strength and resilience of Novonesis’ diversified business. Our ability to combine leading scientific biosolutions capabilities with a broad market reach, positions us well to address evolving customer needs and unlock more growth opportunities. We remain confident in our full-year outlook, supported by a solid start to the fourth quarter.”
- Strong broad-based organic sales growth of 7% (Q3: 6%) including around 1 pp negative effect from exiting certain countries.
- Food & Health Biosolutions grew 9% (Q3: 8%) organically driven by Food & Beverages and include ~2 pp negative effect from exiting certain countries; Planetary Health Biosolutions grew 6% (Q3: 4%) organically.
- Developed markets grew 7% (Q3: 6%) organically and emerging markets 6% (Q3: 5%) including close to 3 pp negative effect from exiting certain countries
- Adjusted EBITDA margin at 37.9% (Q3: 38.3%), 60bps (Q3: 120bps) higher than last year incl. a minor currency headwind.
- NIBD/EBITDA at 1.7x, and free cash flow before acquisitions at 17% of sales. CAPEX-to-sales ratio at 10.2% as planned.
- 2026 outlook confirmed: 7-8% organic sales growth including a close to 1 pp negative effect from exiting certain countries. Q4 organic sales growth indicated at high-single digit. Adj. EBITDA margin expected at the higher end of 37-38% range.
- Acquisition of the remaining 77% of MicroBioGen completed on October 1, giving full access to an attractive yeast platform.
- Share buyback as of September 30, 2026, for a total of EUR 14.8 million out of the EUR 75 million program for 2026.
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