Novozymes unveiled its new corporate strategy titled, ‘Partnering for impact’, which is accompanied by a new set of long-term social, environmental and financial targets.
It also includes a new purpose statement which reads, ‘Together, we find biological answers for better lives in a growing world – Let’s rethink tomorrow’.
The new strategy sets out four focus areas for Novozymes, namely; Rally for change, Lead innovation, Focus on opportunities and Grow people.
“These focus areas will not only be addressed at a corporate level but also be reflected in the separate strategies for each industry area,” Novozymes said in a statement.
“As part of our new purpose and strategy, we have set a series of long-term targets to assess how we are doing,” says CEO Peder Holk Nielsen.
He adds, “Over the next five years we aim to reach, educate, catalyze, deliver, save and enable to make a lasting difference.”
According to Novozymes’, its enzymatic solutions should reach 6 billion people by 2020, while simultaneously striving to educate 1 million people about the potential of biology.
The company aims to partner with key public and private organizations – to catalyse five global partnerships for change.
Novozymes wants to deliver 10 transformative innovations that change the lives of many people, and save 100 million tons CO2 through the use of their products by 2020.
Novozymes’ also updated its long-term organic sales growth target to 8-10 per cent in local currency on average throughout the period from 2015 to 2020.
This replaces the previous target of above 10 per cent and reflects the current visibility of the global economy and end markets and innovation pipeline.
EBIT margin has also been updated from more than 24 per cent to 26 per cent and above, and is expected to be achievable through 2015 to 2020.
The updated long-term target for ROIC including goodwill is 25 per cent and above, and replaces the previous target of more than 22 per cent and is expected to be reached throughout the period. (AR)
