Interim report Q1 2025

Core Insights - The company reported strong sales growth and earnings in the first quarter, with all four sales areas achieving double-digit growth [1][3] - Growth was primarily driven by strong innovation in emerging markets and continued demand for solutions in developed markets [1] - The company confirmed its full-year outlook, expecting solid demand and agility in response to dynamic market conditions [1] Financial Performance - Organic sales growth was 11%, with approximately 1 percentage point attributed to price increases [3] - Emerging markets experienced organic sales growth of 15%, while developed markets saw growth of 9% [3] - Adjusted EBITDA margin improved to 38.3%, an increase of 310 basis points [3] - Adjusted net profit rose by 27% [3] - Net Interest-Bearing Debt (NIBD) to EBITDA ratio stood at 1.1x [3] Strategic Developments - The company announced plans to acquire dsm-firmenich's part of the feed enzyme alliance for EUR 1.5 billion, expected to close in the second quarter [3] - Andrew Taylor was appointed as the new EVP of Food & Beverages, set to join the company by September 1, 2025 [3] Outlook - The company maintained its 2025 outlook, projecting organic sales growth of 5-8% (6-9% excluding exits from certain countries) and an adjusted EBITDA margin between 37-38%, despite facing currency headwinds [3]