Audited by PwC

Balance sheet - Novozymes A/S

Dec. 31, 2008   Dec. 31, 2007
Note     DKK million  DKK million  
ASSETS
Completed IT development projects 30  47 
Acquired patents, licenses, and know-how 396  476 
Goodwill
IT development projects in progress   112  31   
5 Intangible fixed assets 541  557 
Land and buildings 998  965 
Production equipment and machinery 575  565 
Other equipment 146  169 
  Property, plant and equipment under construction 596  482   
6 Property, plant and equipment 2,315  2,181 
Investments in subsidiaries 2,549  2,354 
Other investments 99  50   
7 Financial fixed assets 2,648  2,404 
Total fixed assets 5,504  5,142 
Raw materials and consumables 112  102 
Work in progress 233  193 
Finished goods   492  431   
Inventories 837  726 
Trade receivables 512  438 
Amounts owed by subsidiaries 2,065  2,084 
Tax receivable 194  105 
8 Other receivables   113  147   
Receivables 2,884  2,774 
         
Securities 17  34 
         
Cash at bank and in hand 708  92 
Total current assets 4,446  3,626 
         
Total assets 9,950  8,768 
 

Dec. 31, 2008   Dec. 31, 2007
Note     DKK million  DKK million  
LIABILITIES AND SHAREHOLDERS' EQUITY
9 Common stock 650  650 
Revaluation reserve according to the equity method 460  794 
Treasury stock (1,813) (1,837)
Retained earnings 4,764  3,670 
Proposed dividend   325  309   
Total shareholders' equity 4,386  3,586 
Provisions for deferred tax 190  320 
Other provisions   82  12   
Total provisions 272  332 
10 Credit institutions   1,382  1,682   
Total non-current liabilities 1,382  1,682 
Credit institutions 847  625 
Trade payables 380  233 
Amounts owed to subsidiaries 1,849  1,829 
Other payables   834  481   
Total current liabilities 3,910  3,168 
Total liabilities 5,292  4,850 
         
Total liabilities and shareholders' equity 9,950  8,768 
Notes regarding:
11 Segment information
12 Contingent liabilities and pending litigation
13 Related party transactions
14 Joint ventures
15 Statement of cash flows