2024 has been a truly remarkable year. We successfully combined two strong companies to create Novonesis, a leading biosolutions partner, to pioneer the era of biosolutions. We are operating as a unified company, and our performance clearly demonstrates that we are delivering on our promises.

Now, more than ever, the world is in need of new answers, and with biosolutions the potential for transformation is immense. With over a century of expertise, global reach, and a passionate team of more than 10,000 employees, Novonesis is well-positioned to lead the way in enabling a healthier planet and healthier lives, while creating value for our stakeholders. Our achievements this year mark just the beginning of our journey.

Performance in 2024

Delivering a strong financial performance in 2024, Novonesis is in very good shape. We saw 8% organic sales growth, driven by robust sales across the business, and achieved an adjusted EBITDA margin of 36.1%. Emerging markets performed well, with double-digit organic sales growth of 12%. Throughout the year, we have upheld our commitment to customers and shareholders, consistently delivering on our promises. We are delivering profitable and sustainable growth.

Our three-year cost synergy program is progressing well, with 80% of our run-rate already reached in the first year. Sales synergies are beginning to materialize and are expected to be delivered over the next three years.

Novonesis holds a unique position thanks to our strong customer relationships and a deep understanding of our customers’ needs, which enables us to deliver highly tailored solutions. This, together with our unique research and development muscle and our extensive range of biosolutions and scalable production capabilities, makes us well-prepared to meet the growing demand for biosolutions.

Operating as one company

We have achieved significant progress in our integration efforts, successfully uniting two iconic companies within a matter of months. Throughout the year, we have reached key integration milestones, including establishing the full organization, realizing cost synergies, and creating a foundation for a unified culture.

Together, we have become an even stronger biosolutions partner. Driven by our culture and a strong emphasis on delivering on our promises, we are now even better positioned to provide value-adding solutions to our customers and to meet the increasing demand for innovative biosolutions.

This accomplishment is a result of the dedication and commitment of our employees, who have ensured a seamless transition, met customer needs, and maintained an uninterrupted, reliable supply during a year of change.

Bettering our world with biology

At Novonesis, we know that solutions rooted in biology can help solve some of humanity’s biggest challenges. Our purpose is clear: We exist to better our world with biology, and we have the dedication, knowledge and capabilities to make a substantial impact on a large scale. The foundation for the solutions is here, and now we need the right frameworks and future-oriented regulations to ensure the right impact. We advocate for change on the global stage, while we continue to drive innovation, together with our customers, to transform production and consumption.

Shaping our future, together

The backbone of both legacy companies has formed a solid foundation on which we are building our future. We are better together, and we are already demonstrating how powerful our capabilities are when combined. The time for biosolutions is now, and we are committed to unlocking the limitless possibilities that lie ahead. Our strategic focus will be centered on prioritization, innovation, driving growth, and strengthening our leadership position in the biosolutions industry, all with the aim of continuing to create sustainable value for shareholders and society at large.

We thank our employees, customers, partners and shareholders for their confidence in Novonesis and for taking part in our journey. The future is ours to shape.

Cees de Jong
Chair of the Board of Directors

Ester Baiget
President and CEO