2007 was a really good year for Novozymes. Growth was the theme of the year,
with sales growth higher than expected at 14%. The financial results were
satisfactory, particularly in the light of high energy and raw material prices.
Unfavorable exchange rate movements had a negative impact on the results
measured in DKK. Growth in earnings was 11%, and free cash flow was DKK 963
million. The high rate of sales growth is expected to continue in 2008 and
onwards, and therefore it has been decided to expand the production in the USA.
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