Audited by PwC

Sales by region

Sales in Europe, the Middle East, and Africa (Europe/MEA) rose by 1% in both LCY and DKK in 2008. Growth was strong in sales of detergent enzymes, and food enzyme sales also developed well. Expected lower sales within BPI reduced overall growth. Sales of feed enzymes were down compared to last year owing to a challenging pricing environment and lower demand in the fourth quarter.

Sales in North America were up by 32% in LCY and 24% in DKK in 2008. Growth was primarily related to enzymes for bioethanol production and detergents, although good growth was seen across most areas. The acquired activities within BioAg affected sales development positively. Fourth-quarter BPI sales made this industry develop positively in LCY for the full year in this region.

Latin America sales rose by 19% in LCY in 2008. Detergent, feed, and food enzymes were the largest growth contributors.

Asia Pacific sales increased by 5% in LCY during the year. Detergent and food enzyme sales performed well. However, the depressed textile industry and overall fourth-quarter performance contributed negatively to the development in this region.

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