July 8, 2020 / 8:58 AM / a month ago

BRIEF-Novozymes Provides Trading Update

July 8 (Reuters) - Novozymes A/S:

* REG-TRADING UPDATE

* REG-TRADING UPDATE

* 2020 OUTLOOK REMAINS SUSPENDED DUE TO CONTINUED HIGH UNCERTAINTY, RELATED TO THE COVID-19 PANDEMIC

* IN THE SECOND QUARTER, OVERALL ORGANIC SALES DECLINED BY 2% (DECLINE OF 3% IN DKK) COMPARED WITH THE SAME QUARTER LAST YEAR

* FIRST HALF ORGANIC SALES GROWTH OF 4% (Q2 -2%)

* STOCK BUYBACK PROGRAM TOTALING UP TO DKK 1.5 BILLION IS EXPECTED TO CONTINUE AS PLANNED,

* THE STOCK BUYBACK PROGRAM TOTALING UP TO DKK 1.5 BILLION IS EXPECTED TO CONTINUE AS PLANNED, AND THE DIVIDEND POLICY AND CAPITAL STRUCTURE POLICY REMAIN UNCHANGED.

* THE DIVIDEND POLICY AND CAPITAL STRUCTURE POLICY REMAIN UNCHANGED ,

* WHILE NOVOZYMES CONTINUES TO ACTIVELY MANAGE AND ALIGN COST AND CAPITAL EXPENDITURES TO ENSURE EFFICIENT USE OF RESOURCES, NOVOZYMES REMAINS COMMITTED TO INVESTING FOR LONG-TERM GROWTH

* FIRST HALF PRELIMINARY EBIT MARGIN OF 27.5% (Q2 26%)

* Q2 PRELIMINARY UNDERLYING EBIT MARGIN IN IS ROUGHLY ON PAR WITH ABOUT 25% UNDERLYING EBIT MARGIN IN Q2 OF LAST YEAR Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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