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Novonesis AS Class B

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation
DKK 967.00WbzxJbwrrpm

Raising Our FVE for Novozymes on Potential Merger With Chr. Hansen

Business Strategy and Outlook

Novozymes is the global leader in industrial enzymes, which are essentially biological catalysts. Its enzymes allow customers to achieve greater yields, better performance, or lower costs in their products and production processes, primarily by reducing raw material and energy requirements. With near-50% market share, Novozymes is the dominant leader in a consolidated market. The only other major player is DuPont, with 20% share. Key end markets for Novozymes’ products are laundry detergents, ethanol fuel production, food and beverages, and animal feed.

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