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    Lars Topholm

    Research Analyst at Carnegie Investment Bank

    Lars Topholm's questions to NOVOZYMES AS/FI (NVZMY) leadership

    Lars Topholm's questions to NOVOZYMES AS/FI (NVZMY) leadership • Q2 2023

    Question

    Lars Topholm from Carnegie Investment Bank inquired about the pricing outlook for the second half of the year, asking if the 6% momentum would continue. He also requested quantification of the negative impact from reduced COVID-19 test kit sales.

    Answer

    EVP and CFO, Lars Green, clarified that because pricing initiatives began in H2 2022, the pricing contribution will be slightly lower in H2 2023 due to tougher comparables, though it will still be the main driver of full-year growth. EVP of Agriculture & Industrial Biosolutions, Tina Fano, quantified the impact of COVID-19 test kits, stating their absence was the biggest driver of the decline in the Tech segment and represented roughly 5% of the total Grain & Tech segment.

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    Lars Topholm's questions to NOVOZYMES AS/FI (NVZMY) leadership • Q1 2023

    Question

    Lars Topholm from Carnegie Investment Bank requested more color on the supply chain issues in Human Health and questioned the Bioenergy outlook, which implies a different seasonal pattern than historically observed.

    Answer

    EVP, Strategy & Business Transformation, Amy Byrick, attributed the Human Health supply issues to the contract manufacturing network for finished products, expecting challenges to persist in Q2 with a strong rebound in H2. EVP, Agriculture & Industrial Biosolutions, Tina Fanø, explained the Bioenergy pattern is altered by significant order timing from Q2 into Q1 and tougher year-over-year comparables in the latter half of the year, supporting the upgraded high single-digit growth guidance.

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    Lars Topholm's questions to NOVOZYMES AS/FI (NVZMY) leadership • Q1 2023

    Question

    Lars Topholm from Carnegie Investment Bank asked for details on the supply chain issues in Human Health, their Q1 impact, and the resolution timeline. He also questioned the Bioenergy outlook, which implies a lower quarterly run-rate than Q1, contrary to historical patterns.

    Answer

    EVP, Strategy & Business Transformation Amy Byrick attributed the Human Health supply issues to the contract manufacturing network, affecting both existing business and new product launches, with challenges expected to persist in Q2 before a strong H2 rebound. EVP, Agriculture & Industrial Biosolutions Tina Fanoe explained the Bioenergy pattern is altered by significant Q1 order timing and tougher H2 comparables from 2022, justifying the high single-digit growth guidance despite the strong start.

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    Lars Topholm's questions to NOVOZYMES AS/FI (NVZMY) leadership • Q4 2022

    Question

    Lars Topholm questioned the dynamics of the 4-7% organic growth outlook, specifically the price versus volume contribution and whether Household Care volumes are expected to contract. He also asked about the timeline for potential revenue from biochemicals and biopolymers.

    Answer

    CEO Ester Baiget confirmed pricing would be more than half of the growth, with continued volume demand in most areas. EVP Anders Lund specified that for Household Care, a net small volume decline is expected due to softness in developed markets offsetting growth in emerging markets. Regarding new ventures, CSO Claus Fuglsang noted that while there is customer interest, revenue from areas like plastic degradation would be small and in its infancy, representing incremental future growth.

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