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    Charles Eden

    Research Analyst at UBS Group AG

    Charles Eden's questions to NOVOZYMES AS/FI (NVZMY) leadership

    Charles Eden's questions to NOVOZYMES AS/FI (NVZMY) leadership • Q1 2023

    Question

    Charles Eden from UBS asked about the variance in pricing across divisions and sought to understand the confidence in achieving high single-digit growth for the Food, Beverages & Human Health division after a flat adjusted start to the year.

    Answer

    CEO Ester Baiget explained that while pricing momentum is consistent, the timing of its impact varies by division based on contract cycles, with more agile segments like Bioenergy showing effects sooner. An executive clarified that confidence in Food, Beverages & Human Health growth stems from three factors: substantially easier comps in the second half, expected double-digit growth in Human Health, and an anticipated reversal of destocking trends in Food and Beverages.

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    Charles Eden's questions to NOVOZYMES AS/FI (NVZMY) leadership • Q1 2023

    Question

    Charles Eden from UBS asked about the degree of variance in pricing realization across the different divisions. He also sought to understand the key drivers giving confidence in the high single-digit growth outlook for Food, Beverages & Human Health, given its flat underlying start.

    Answer

    President & CEO Ester Baiget explained that while pricing efforts are consistent, the timing of impact varies by division due to contract structures, with Household Care having longer terms and Bioenergy being more agile. Regarding Food, Beverages & Human Health, the confidence for full-year growth stems from three factors: easier second-half comparables, an expected double-digit recovery in Human Health, and an anticipated reversal of customer destocking trends seen in H1.

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