Novozymes went slightly up except for one division

The biofuel division was the only part of Novozymes to suffer a setback in 2016, according to the annual report on a "challenging year", in which the enzyme producer kicks off a round of firings and a large-scale share buy-back program.

Photo: Novozymes/ PR

Overall, Novozymes made progress in 2016. The enzyme producer's revenue increased slightly by 1 percent to DKK 14,142 million (EUR 1,902 million) while the result landed a good 7 percent above 2015 at DKK 3,881 before taxes, according to the annual report presented Wednesday morning.

However, the progress is not a result of positive trends in the biofuel business. As the only one of Novozyme's five divisions, it suffered an unsurprising setback with revenue of DKK 2,438 million, which is 4 percent less than the previous year.

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