Continued price erosion for glyphosate lead to negative development in Cheminova in 2009

Company announcement no. 11/2009
October 26, 2009

CONTINUED PRICE EROSION FOR GLYPHOSATE LEAD TO NEGATIVE DEVELOPMENT IN
CHEMINOVA IN 2009 

Preliminary accounting figures for Auriga show that the subsidiary Cheminova
A/S will not achieve the revenue and earnings outlook for Q3 and for the full
year 2009. 

The glyphosate prices in the world market and especially in North America have
declined to a considerably lower level in Q3 2009 than expected at half-year.
Following a weak first half-year, Cheminova has strongly increased sales in Q3
relative to the same period last year, but as a result of the price
development, Cheminova sees considerably lower earnings like other glyphosate
suppliers. 

As a result, Auriga downgrades the full year 2009 outlook to revenues of
approx. DKK 5,500 million with a positive operating profit in the range of DKK
10-50 million. At half-year, the outlook was revenues of approx. DKK 5,800
million and an EBIT margin in the level of 6-7%. A positive cash flow from
operating activities is still expected. 

Despite a declining market for crop protection products in 2009 following the
strong growth in 2008, Cheminova's other products show continued growth, which
is confirming the long-term targets set out in Cheminova's Business Plan
”Five-in-Fifteen”. 

INTERIM REPORT FOR Q3 2009
Auriga's interim report for Q3 2009 will be released about 8:30 CET on November
10, 2009, after completing the financial statements. The result will be
presented at an analysts' meeting on November 10, 2009, in Copenhagen. The
presentation will be conducted in English and can be viewed live as webcast on
www.auriga-industries.com and www.auriga.dk, where the presentation can be
found as well. An indexed version of the webcast will be available on the
websites afterwards. A teleconference will not be held in connection with the
release of the interim report for Q3 2009. 


AURIGA INDUSTRIES A/S		

Erik Højsholt	
Chairman of the Board of Directors

Kurt Pedersen Kaalund
President and CEO


FURTHER INFORMATION: 

Kurt Pedersen Kaalund 
President & CEO
Tel. +45 7010 7030


Jens Ole Jensen
Vice President
Tel. +45 7010 7030