The Novozymes
Report 2022

Let’s Rethink Tomorrow

Novozymes at a glance

Broad-market presence across more than 30 industries in 140 countries
More than 6,700 employees across 33 countries
Market leader with more than 700 biosolutions that are inspired by nature
One of the first companies in the world to have its net-zero target validated by the Science Based Targets initiative
Driven by innovation with ~11% of total revenue invested in research and development, and 26 biosolutions launched in 2022
Enabled savings of 65 million tonnes of CO2 in global transportation in 2022 – equivalent to taking 27 million cars off the road.

Novozymes is the world leader in biosolutions. We use the power of biotech to help our customers grow their businesses while preserving the planet’s resources and enabling better lives.

Our purpose is at the heart of who we are and the guiding principle for the way we do business. It looks ahead to everything we aim to accomplish together with our customers, consumers, governments, academia and many others around us. We live up to our purpose by delivering on our strategy while staying true to our values.

Performance highlights

Performance highlights

Nonfinancial

63%
Absolute CO2 emissions reduction from operations
100%
Circular management of biomass
83
Employee engagement - Zymer Spirit Index
86
Gender and international representation - Nurture Diversity Index

Financial

9%
Organic sales growth
26.0%
EBIT margin
26.4%
Before special items*
1.1 DKKbn
Free cash flow before acquisitions
17.6%
ROIC**
17.9%
Before special items*

Special items include costs related to the proposed combination with Chr. Hansen. Including goodwill.

Novozymes A/S

Sales by business area

We saw double digit growth across three out of five business areas in 2022: Bioenergy, Food, Beverages & Human Health and Grain & Tech Processing. We also saw solid growth in Agriculture, Animal Health & Nutrition, while Household Care performed in line with expectations.

% of
total sales

Household Care

28% 1%*

2021: 32%

Food, Beverages & Human Health

24% 10%*

2021: 23%

Bioenergy

21% 25%*

2021: 18%

Grain & Tech Processing

15% 10%*

2021: 15%

Agriculture, Animal Health & Nutrition

12% 8%*

2021: 12%

*Organic sales growth
Read more

Sales by geography

Europe, the Middle
East & Africa

6%*

North
America

11%*

Asia
Pacific

10%*

Latin
America

16%*
35%
33%
20%
12%
% of sales
*Organic sales growth
Read more

Novozymes and
Chr. Hansen

to combine and create a leading global biosolutions partner

Read more

2022 strategy highlights

We live in a dynamic world with growing populations, increasing nutritional needs and demands, and an urgent climate crisis. In this global context, our strategy “Unlocking growth – powered by biotech” is more relevant than ever. It is rooted in our unique ability to use the power of biotech to address some of the world’s biggest challenges while unlocking sustainable growth.

Our strategy starts with our three commitments to a healthy planet. They shape our three growth pillars, which guide our investments and priorities to grow Novozymes: Evolve our core business, Expand BioHealth and Human Nutrition and Explore new options for growth.

Click on to read more

Evolve

Our core business

Expand

BioHealth
and Human Nutrition

Explore

New options for growth

Targets & outlook

To live our purpose, deliver on our strategy, and achieve our long-term commitments to a healthy planet, we have a set of financial and nonfinancial targets for our business, operations, employees and society. We hold ourselves accountable by transparently evaluating and reporting on our targets.

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Our journey towards a net-zero future

Drive market transformation and advocate for climate action

Accelerating efforts

Our operations
Shift to renewables electricity across sites.
Produce more with less by continuing to make operations more efficient.
Recover energy to use in operations or by local communities.

Our supply chain
Engage with key suppliers to ensure full transparency of emissions and explore joint decarbonization opportunities.

2022
63% reduction of absolute emissions from operations
82% renewable electricity purchased

Leading the way

Our operations
Shift to greener heat, steam, and other energy sources.
Pilot emerging technologies to further decarbonize operations e.g. climate smart cooling.

Our supply chain
Pursue supply chain partnerships to develop decarbonization technologies.
Explore sourcing of raw materials from regenerative agriculture.
Scale up decarbonization in logistics together with freight forwarders.

2025
65% absolute CO2 emissions reduction from operations
100% renewable electricity purchased

Fulfilling our promise

We are commited to high standards and ambitious actions to improve our footprint on the climate across scopes 1, 2 and 3.

We will balance the remaining up to 10% emissions through trusted third-party verified offsets that benefit people and societies.

2030
75% absolute CO2 emissions reduction from operations
35% absolute CO2 emissions reduction from supply chain*

* Supply chain emissions coming from purchased goods and services, fuel and energy-related activities, upstream transportation and distribution, waste generated in operations and business travel.
0 200 400 600 800 1000 1200 2050 2025 2030 2018 baseline 2022 Total CO2 emissions across scopes 1+2+3 (1,000 tonnes) Scope 1 Scope 2 Scope 3 By 2050 we will reach net-zero SBTi verified 2030 2025 2022

In the spotlight

Co-creating with our customers from idea to product

Consumers want to manage their health and well-being and are increasingly looking for food, beverages, and supplements with added benefits at affordable prices.

Read more

In the spotlight

Transforming food systems from field to fork

The world has managed to feed more and more people in recent decades, but growing populations, increasing nutritional needs, and the impact from climate change mean that we have to rethink the way we produce and consume.

Read more

Download our reports

The Novozymes Report 2022
PDF format
Remuneration Report 2022
PDF format
The Novozymes Annual Report 2022
XHTML format submitted to the Danish
Financial Supervisory Authority


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