Novonesis delivered a strong start to 2026, reporting 7% organic sales growth in the first quarter and an adjusted EBITDA margin of 37.8%. This growth was broad-based, occurring across all sales areas and in both Developed and Emerging markets. Food & Health Biosolutions saw 9% organic growth, while Planetary Health Biosolutions grew by 5%. Developed Markets experienced 8% organic growth, and Emerging Markets grew by 4%, despite a negative impact from exiting certain countries.
CEO Ester Baiget emphasized the strength and resilience of Novonesis' business model, noting that the demand for biosolutions continues to grow even with increased global uncertainty. The company has reaffirmed its full-year 2026 outlook, expecting organic sales growth between 5-7% and an adjusted EBITDA margin of 37-38%. Novonesis also confirmed its ambitious 2030 targets, which include a 6-9% organic sales growth CAGR and an adjusted EBITDA margin of approximately 39%.
Strategic initiatives contributing to this performance include the integration of the Feed Enzyme Alliance and Chr. Hansen, which is progressing ahead of schedule and yielding synergies. The company also added 400 new commercial roles in 2025, with two-thirds focused on emerging markets, and plans increased capital expenditures in 2026 to boost enzyme capacity. Novonesis continued its product innovation, launching 14 new biosolutions in Q1 2026, bringing the yearly total to 33. The company's stock currently trades near its 52-week low at $60.21, but analysis suggests it is undervalued with a market capitalization of $28 billion and an attractive PEG ratio of 0.29.
