Audited by PwC

Note 28 - Joint ventures

Novozymes A/S has interests in two joint ventures, namely two houseowners' associations run as jointly controlled entities with Novo Nordisk A/S. The objects of the associations are the operation and maintenance of common facilities.
Novozymes' share of the net profit, assets, and liabilities of the two joint ventures is included in the consolidated financial statements on a proportionate basis as follows:
2008 2007
    DKK million  DKK million  
Non-current assets 41  41 
Current assets   45  47   
Total assets at December 31 86  88 
Non-current liabilities (63) (63)
Current liabilities   (23) (25)  
Total liabilities at December 31 (86) (88)
Net profit   -    - 
Novozymes A/S has not assumed any material contingent liabilities in connection with its interests in these joint ventures.