Audited by PwC

Income statement - Novozymes A/S

2008 2007
Note     DKK million  DKK million  
1 Revenue 4,719  4,010 
2 Cost of goods sold   2,634  2,320   
  Gross profit 2,085  1,690 
   
2 Sales and distribution costs 537  530 
2 Research and development costs 845  810 
2, 3 Administrative costs 372  403 
Other operating income, net 1,049  769   
Operating profit 1,380  716 
7 Income before tax on investments in subsidiaries 22  678 
4 Financial income 198  63 
4 Financial costs   264  106   
Profit before tax 1,336  1,351 
Corporation tax   336  340   
Net profit 1,000  1,011 
Proposed appropriation of net profit
Dividend to shareholders 325  309 
Revaluation reserve according to the equity method (334) 147 
Retained earnings   1,009  555   
1,000  1,011 
Proposed dividend per share  DKK 5.25   DKK 5.00