Novonesis delivered solid performance in 2025, posting 7% organic sales growth and an adjusted EBITDA margin of 37.1%, signalling resilience amid currency headwinds. The global biosolutions major expects a strong start to 2026 and anticipates another positive year overall.
Ester Baiget, President & CEO, said: "In 2025, we continued to deliver strong organic sales growth. We achieved 7% growth, an adjusted EBITDA margin of 37.1% and a strong cash flow – despite currency headwinds. Growth was broad-based across sales areas and markets, with particularly strong performance in Emerging Markets.
"As a pure biosolutions player, Novonesis uniquely combines deep understanding of customers, innovation leadership and world-class scale capabilities, driving performance and strengthening resilience. In 2026, we expect another good year, with growth across all sales areas and margin expansion. We continue to execute on our strategy, positioning us to firmly deliver on our 2030 targets and beyond."
2025 snapshots:
Broad-based growth: Organic sales rose 7% for the year (Q4: 4%), despite exiting certain countries (~1%-point impact; Q4: ~2%-points). Price and sales synergies each contributed ~1%-point.
Segment performance: Food & Health grew 8% organically (Q4: 7%) despite country exits, while Planetary Health posted 6% growth (Q4: 2%), driven by double-digit Energy gains.
Regional strength: Emerging Markets surged 9% (Q4: 1%), with Developed Markets up 6% (Q4: 6%).
Margins and profits: Adjusted EBITDA margin increased to 37.1% (Q4: 36.6%), despite one-off expenses and currency challenges; adjusted gross margin reached 59.1%. Adjusted net profit rose 17% (Q4: flat).
Strong balance sheet: Net debt/EBITDA stood at 1.9x, with free cash flow before acquisitions at EUR 770.4 million, or 19% of sales.
Dividends and innovation: Proposed dividend of DKK 4.25/share (58.4% of adjusted net profit), with 33 new product launches in 2025 (Q4: 14). Innovations introduced over the last five years now account for 25% of sales.
Sustainability: All six environmental and social targets for 2025 were achieved, keeping the company on track for future commitments.
Novonesis projects 5–7% organic sales growth with margin expansion to 37–38%, despite potential headwinds from lower consumer sentiment and currency (~50 bps). Growth is expected across all sales areas, with ~1%-point from pricing and ~1%-point from sales synergies, offset partially by country exits.
