The Novozymes share in 2005
The price of the Novozymes B share ended the year at DKK 345, up DKK 67 or 24% from the beginning of the year. This positive performance came in a year when expectations for profit and free cash flow were revised upwards on two occasions, and despite Novozymes posting slightly lower sales growth in local currencies than anticipated at the beginning of the year. |
The Novozymes share performed 13 percentage points worse than the Copenhagen Stock Exchange's OMXC20 blue-chip index, which climbed 37% during the year. Relative to other relevant stock indices the trend was also for the Novozymes share to gain less than the average. However, the Novozymes share outperformed the Dow Jones Sustainability.
In September 2005, for the fifth year in a row, Dow Jones Sustainability Indexes named Novozymes as the listed biotechnology company with the greatest capacity, both in Europe and worldwide, to generate long-term shareholder value by exploiting opportunities and managing risks deriving from economic, environmental and social factors.
Novozymes' market capitalisation at the end of the year was DKK 24 billion. The share was the 12th most traded on the Copenhagen Stock Exchange, placing it midway up the OMXC20 index. Share turnover was fairly stable during the year. On an average day 236,000 shares were traded, equivalent to 2.1% of the value of trading in all OMXC20 shares.
At Novozymes A/S' Annual Meeting of Shareholders on March 16, 2005 a decision was taken to write down the share capital. Following this write-down, the share capital is DKK 696 million, corresponding to 69.6 million shares.
Novozymes invested a total of DKK 1,053 million in share buy-backs in 2005, and holdings of treasury shares made up 8.2% of the total share capital at year-end.
| Novozymes' B share in 2005 – relative share price performance versus relevant indices
|
| Share-related key figures
|
2005 |
2004 |
|
|
Share price (DKK) |
|
|
|
– high |
349.5 |
293.0 |
|
– low |
265.5 |
213.0 |
|
– year-end |
345.0 |
278.0 |
|
Year-end market capitalisation and turnover (DKK billion) |
|
|
|
– A shares |
3.7 |
3.0 |
|
– B shares |
20.3 |
17.2 |
|
– total |
24.0 |
20.2 |
|
Turnover, all trades |
15.9 |
9.7 |
|
No. of shares, average (million) |
|
|
|
– diluted |
67.1 |
69.8 |
|
No. of shares, year-end (million) |
|
|
|
– issued |
69.6 |
72.6 |
|
– outstanding |
63.9 |
66.6 |
|
– diluted |
65.6 |
69.8 | |
|
|
2005 |
2004 |
|
|
Shares not strategically owned (free float) |
|
– all shares |
74.5% |
74.5% |
|
– B shares |
88.1% |
87.4% |
|
Key figures |
|
|
|
Earnings per share, diluted (DKK) |
12.79 |
10.94 |
|
Cash flow from operating activities per share, diluted (DKK) |
19.77 |
18.43 |
|
Dividend per share (DKK) |
4.00 |
3.50 |
|
Year-end dividend yield (%) |
1.2 |
1.3 |
| |
|
|
| Background information on the Novozymes share
Novozymes A/S' B shares are listed on the Copenhagen Stock Exchange and are traded under ticker code NZYM B and ISIN DK0010272129. They have a nominal value of DKK 10 each. |
|
| Share capital and voting rights |
|
|
Share capital (DKK) |
|
Votes |
|
Votes (%) |
|
|
A shares |
|
107,487,200 |
|
1,074,872,000 |
|
64.6 |
|
B shares |
|
588,512,800 |
|
588,512,800 |
|
35.4 |
|
Total |
|
696,000,000 |
|
1,663,384,800 |
|
100.0 | |
The A share capital is held by Novo A/S, which is wholly owned by the Novo Nordisk Foundation. In addition, Novo A/S holds 6,999,280 B shares, which overall gives Novo A/S 25.5% of the total share capital and 68.8% of the votes. This is why Novozymes is included in the consolidated accounts of the Novo Nordisk Foundation. Novo A/S is domiciled in Gladsaxe, Denmark.
Novozymes' holding of treasury shares has been included when calculating the numbers and percentages of votes held.
|
Breakdown of shareholders |
|
Name |
% of total
share
capital |
|
% of B
share
capital |
|
|
Novo A/S, Gladsaxe, Denmark |
25.5% |
|
11.9% |
|
Novozymes A/S, Gladsaxe, Denmark |
8.2% |
|
9.7% |
|
Danish ATP, Hillerød, Denmark |
5.5% |
|
6.5% |
|
Jupiter Asset Management |
5.3% |
|
6.3% |
|
Institutional investors, etc. |
45.0% |
|
53.2% |
|
Private investors |
10.5% |
|
12.4% |
|
|
Total |
100% |
|
100% |
It is estimated that the number of private shareholders is approximately 55,000, of whom around 33,000 are registered by name.
| Geographical distribution of shareholders |
|
Country/region |
% of total
share
capital |
|
% of B
share
capital |
|
|
Denmark |
64% |
|
57% |
|
North America |
15% |
|
18% |
|
UK |
15% |
|
18% |
|
Rest of Europe |
4% |
|
5% |
|
Asia Pacific, etc. |
2% |
|
2% |
|
|
Total |
100% |
|
100% |
Further information about the Novozymes share can be found under Investor zone at www.novozymes.com.
Dividend
The Board of Directors proposes payment of a dividend of DKK 4.00 per share for 2005, compared with DKK 3.50 per share for 2004. The dividend is disbursed in DKK less the statutory 28% deduction of Danish withholding tax. Shareholders resident in some countries may be eligible for a refund of withholding tax deducted in Denmark, subject to the double-taxation agreements in force between Denmark and the countries concerned. |
Dividend dates
- Resolution adopted at the Annual Meeting of Shareholders: March 1, 2006
- Last day of trading with right to dividend for 2005: March 1, 2006
- First day of trading without right to dividend for 2005: March 2, 2006
- Calculation date: March 6, 2006
- Disbursement of dividend: March 7, 2006
|
|
| Financial calendar |
|
March 1, 2006 |
|
Annual Meeting of Shareholders, Ballerup Superarena, Marbækvej 6, 2750 Ballerup, Denmark |
|
April 26, 2006 |
|
First quarter 2006 Group financial statement |
|
August 8, 2006 |
|
First half 2006 Group financial statement |
|
October 25, 2006 |
|
First three quarters 2006 Group financial statement | |
Shareholder magazine and annual report
The shareholder magazine The Zymes is distributed twice a year to all shareholders registered by name, in connection with the notice convening the Annual Meeting of Shareholders and after the publication of the financial statement for the first half of the year. The full annual report can be found at www.novozymes.com. A printed summary can be ordered via www.novozymes.com or by contacting Novozymes directly. |
The following 20 companies were covering the company at year-end: ABG Sundal Collier, ABN AMRO/Alfred Berg, Alm. Brand Børs, Carnegie, Cazenove, Chevreaux, Danske Equities, Enskilda Securities, Handelsbanken Capital Markets, HSBC, J.P. Morgan Securities, Jyske Bank, Merrill Lynch, Nordea Securities, Proactive Independent Ideas (PI Ideas), SG Securities, Spar Nord, Sydbank, UBS and Vontobel.
Novozymes' investor relations guidelines can be viewed under Investor zone at www.novozymes.com.
Lene Aaboe, senior director
Tel. +45 4446 0082, mobile +45 3077 0082, fax +45 4442 1002
lefr@novozymes.com
Tobias Björklund, manager
Tel. +45 4442 8286, mobile +45 3079 8286, fax +45 4442 1002
tobb@novozymes.com
Registration number
Novozymes A/S is registered with the Danish Commerce and Companies Agency under 10 00 71 27.
