Chr. Hansen Holding A/S

Chr. Hansen is a biosciences group based in Denmark. Co. develops and supplies natural ingredient solutions for the food, pharmaceutical, nutritional, and agricultural industries worldwide. Co. operates in three divisions: Cultures and Enzymes (develops, produces, and sells cultures, enzymes, and probiotics for the food and dairy industries); Health and Nutrition (develops products for the dietary supplement, over-the-counter pharmaceutical, infant formula, and animal feed industries); and Natural Colors (develops natural color solutions to the food industry, primarily for the beverage, dairy, confectionery, fruit preparation and ice cream, as well as functional blends for processed meats).
  • TickerCHR
  • ISINDK0060227585
  • ExchangeNasdaq Nordic Copenhagen
  • SectorPharmaceuticals & Biotechnology
  • CountryDenmark

Analysts

Rune Majlund Dahl

Chr. Hansen (Hold, TP: DKK670.00) - EUR pricing drives organic growth

Chr. Hansen (CHR DC, Hold) - EUR pricing drives organic growth (17 pages)

Rune Majlund Dahl

Chr. Hansen (Buy, TP: DKK700.00) -

Chr. Hansen (CHR DC, Buy) - (10 pages)

Rune Majlund Dahl

Chr. Hansen (Buy, TP: DKK700.00) - Margin expansion finally unfolding

Chr. Hansen’s Q4 results are due at 08:00 CET on 15 October. We expect full-year guidance midpoints to be reached based on a continuation of the trends seen in Q3. We forecast full-year 2018/19 guidance to be in line with the long-term outlook of 8–10%, but see organic growth in FC&E above the targeted 7–8% supported by EUR-based pricing. We reiterate our BUY and DKK700 target price.

Rune Majlund Dahl

Chr. Hansen (Buy, TP: DKK700.00) - Margin expansion a quarter late

With 9% group organic sales growth, Chr. Hansen delivered in line with our estimates and consensus while the 29.7% EBIT margin disappointed slightly as the scalability effect from the capacity expansion did not materialise in this quarter. We now expect the significant margin expansion in Q4. The 2017/18 guidance was unchanged, and a DKK5.94/share extraordinary dividend was announced. We reiterate our BUY but have cut our target price to DKK700 (720).

Rune Majlund Dahl

Chr. Hansen (Buy, TP: DKK720.00) - FC&E miss on margin expansion

Q3 organic sales growth of c9% was in line with our estimate of 9.2% and consensus of 8.8%, with the FC&E division delivering c11% organic growth (our estimate 10.4%, consensus 10.2%). The EBIT margin of 29.7% was weaker than we expected (our estimate 30.1%, consensus 29.8%), due to unfavourable product mix in the FC&E division and the benefits from the capacity expansion just starting to materialise. The 2017/18 guidance is unchanged. We expect the shares to trade down c3% due to FC&E.

2 directors bought

Two Directors at Chr.Hansen Holding AS bought 3,385 shares at between 614.400DKK and 619.830DKK. The significance rating of the trade was 56/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under lis...

Alexander Aukner ...
  • Antti Kansanen
  • Jon Masdal
  • Marius Knudssøn
  • Martin Arnell
  • Martin Huseby Karlsen
  • Ole-Andreas Krohn
  • Patrik Ling
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Frank Maaø ...
  • Håkon Astrup
  • Jesper Ingildsen
  • Jon Masdal
  • Karl-Johan Bonnevier
  • Marius Knudssøn
  • Martin Arnell
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Christer Roth ...
  • Karl-Johan Bonnevier
  • Martin Arnell
  • Martin Huseby Karlsen
  • Mattias Holmberg
  • Ole-Andreas Krohn
  • Rune Majlund Dahl

Northern Lights

Jon Masdal ...
  • Marius Knudssøn
  • Martin Huseby Karlsen
  • Mattias Montgomery
  • Ole-Andreas Krohn
  • Rune Majlund Dahl
  • Simen Mortensen

Northern Lights

Christer Magnergård ...
  • Christoffer Wang Bjørnsen
  • Karl-Johan Bonnevier
  • Mattias Holmberg
  • Nicolas McBeath
  • Nicolay Dyvik
  • Ole Martin Westgaard
  • Ole-Andreas Krohn
  • Olof Larshammar
  • Rune Majlund Dahl
  • Simen Mortensen
  • Stefan Gauffin

Northern Lights

CHR HANSEN HOLDING AS sees a downgrade to Slightly Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of CHR HANSEN HOLDING AS (DK), active in the Food Products industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered moderately risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Slightly Negative. As of the analysis date October 5, 2018, the closing price was DKK 631.00 and its target price was estimated at DKK 571.80.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

GlobalData Department

Chr. Hansen Holding AS (CHR) - Pharmaceuticals & Healthcare - Deals and Alliances Profile

Summary Chr. Hansen Holding A/S (Chr. Hansen) is a bioscience company that focuses on the development of natural ingredient solutions for the food, pharmaceutical, nutritional and agricultural industries. The company develops, produces and markets cultures, enzymes, probiotics and natural colors. It caters to the needs of agriculture, beverage, ice and desserts, meat, pharmaceuticals, dietary supplements, fermented milks, confectionery, fruit preparations, snacks, spreads and wine industries. Chr. Hansen conducts research and development in the fields of fermentation, microbial physiology, cu...

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 28/11/2017

In general, Chr. Hansen is in compliance with the Danish regulations relating to the organisation and procedures of the Annual General Meeting.Under ITEM 5c, it is proposed to abolish the age limit for members of the board of directors in the Company's Articles of Association. Since this proposal is currently not in accordance with provision 3.1.4 of the Danish Recommendations on Corporate Governance, ECGS recommends to OPPOSE.Under ITEMS 6aa-6bf, the (re-)election of the board of directors is proposed. ECGS has concerns over the aggregate time commitments of board Chairman Mr. Ole Gjesso And...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch