Chr. Hansen changes regional structure

by Jeff Gelski
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HOERSHOLM, DENMARK – Chr. Hansen will switch to three regions in its commercial organization, the company said July 3. The regions will be EMEA (Europe, Middle East and Africa), Americas (North America and Latin America) and APAC (Asia-Pacific). Chr. Hansen previously had four regions: Europe, North America, South America and APMEA (Asia, Pacific, Middle East and Africa).

A group vice-president will head each new region and will report directly to Cees de Jong, chief executive officer of Hoersholm-based Chr. Hansen.

“A customer-centric approach is very important to a company like ours, and we should constantly organize ourselves to fit the market most diligently,” Mr. de Jong said. “With this change, we move the decision making a corporate leadership level even closer to the local execution.”

David Carpenter, previously regional vice-president for North America, will become vice-president for the Americas. Jacob Vishof Paulsen, previously regional vice-president for Europe, will be vice-president for EMEA. Sten Estrup, previously senior vice-president of commercial development for the cultures and enzymes division, will become vice-president of APAC.

Chr. Hansen provided pro forma numbers for the three regions while releasing financial results for the first nine months of fiscal year 2012-13. EMEA had revenue of €265.6 million ($344.8 million) and organic growth of 1% for the nine-month period ended May 31, 2013. Americas had revenue of €206.5 million ($268.1 million) and organic growth of 13%. APAC had revenue of €72.4 million ($94.1 million) and organic growth of 9%.

Companywide over the first nine months, Chr. Hansen had revenue of €544.5 million, up 6% from €513.7 million in the same time period of the previous year, and EBITDA of €176.9 million, up 5.5% from €167.7 million.

“The Chr. Hansen Group delivered organic growth of 9% excluding carmine price effect in the first nine months of 2012-13,” Mr. de Jong said. “In Q3 the organic growth excluding carmine price effect was 8%.”

Carmine color experienced significantly lower sales prices over the nine-month period as revenue in Chr.

Hansen’s Natural Colors division fell by 4% to €125 million. Nine-month revenue in the Cultures & Enzymes division increased 8% to €333 million. Nine-month revenue in the Health & Nutrition division increased 13% to €87 million.

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