In a company release dated October 14th Chr. Hansen reported an 11 percent increase in revenue for fiscal 2020/2021 to $1.25 billion. The Company generated an EBIT of $346 million approximately nine percent lower than the previous financial year. Chr. Hansen benefited from acquisitions but was negatively impacted by currency exchange. The Food Cultures and Enzymes Segment posted eight percent organic growth followed by the Health and Nutrition Segment with five percent organic growth.
In a statement accompanying the results, Mauricio Graber, CEO stated, "a prolonged impact from the COVID pandemic increased the complexity of transitioning Chr. Hansen to a fully-focused bioscience company. Limited customer access, delayed registration times and general macroeconomic uncertainty restrain growth opportunity. Our Human Health business disappointed in the second half of the year due to that part of the business serving traditional sales channels. In 2021/2022 we will be focused on commercial execution and anchoring the new businesses while making progress in our 2025 strategic priorities.
In providing guidance, Chr. Hansen expects an increase in revenue in the range of five to eight percent and an increase in EBIT of 27 percent. During the recently completed fiscal year, Chr. Hansen divested Natural Colors and acquired HSO Healthcare, UAS Labs and Jennewein.