Novonesis, the Copenhagen-based biosolutions company, has reported nine-month 2026 results showing 7% organic sales growth and an adjusted EBITDA margin of 37.9%, while confirming its full-year outlook of 7–8% organic sales growth. The company also completed the acquisition of the remaining 77% of MicroBioGen on 1 October 2026, securing full access to what it describes as an attractive yeast platform. Investors will note that the confirmed outlook and solid profitability metrics reinforce management's confidence heading into the final quarter of the year.

Key Points

  • Novonesis (0Q4U), Copenhagen-based biosolutions group formerly known as Novozymes
  • Nine-month 2026 organic sales growth of 7%, with Q3 standalone growth of 6%; adjusted EBITDA margin of 37.9% for the nine-month period
  • Full-year 2026 outlook confirmed at 7–8% organic sales growth, with adjusted EBITDA margin expected at the higher end of the 37–38% range; Q4 organic sales growth indicated at high-single digit
  • Investors should watch for Q4 delivery against the high-single-digit organic growth indication and the ongoing EUR 75 million share buyback programme

Novonesis Posts 7% Nine-Month Organic Sales Growth Across Both Biosolutions Divisions

Novonesis reported broad-based organic sales growth of 7% across its nine-month 2026 period, with Q3 alone contributing 6% growth. The company's two principal divisions both performed positively: Food & Health Biosolutions grew 9% organically over the nine months, driven by the Food & Beverages segment, while Planetary Health Biosolutions grew 6% organically. The announcement notes that growth figures include approximately 2 percentage points of negative effect from exiting certain countries within Food & Health, and close to 3 percentage points of negative effect within emerging markets, which themselves grew 6% organically over the period.

Adjusted EBITDA Margin of 37.9% Reflects 60 Basis Points Year-on-Year Improvement Despite Currency Headwinds

Novonesis achieved an adjusted EBITDA margin of 37.9% for the nine months to September 2026, representing a 60 basis points improvement on the prior year period, despite what the announcement describes as a minor currency headwind. Q3 alone delivered an adjusted EBITDA margin of 38.3%, 120 basis points higher than the same quarter last year. The company's net interest-bearing debt to EBITDA ratio stood at 1.7x, with free cash flow before acquisitions at 17% of sales and a capital expenditure-to-sales ratio of 10.2%, described as planned.

MicroBioGen Acquisition Completed and EUR 75 Million Buyback Programme Progressing

Novonesis completed the acquisition of the remaining 77% of MicroBioGen on 1 October 2026, giving the group full ownership and access to what the announcement describes as an attractive yeast platform. The company did not disclose the financial terms of the acquisition in the announcement. Separately, the ongoing share buyback programme of EUR 75 million for 2026 had reached EUR 14.8 million as of 30 September 2026, indicating the programme remains active through the fourth quarter.

Full-Year 2026 Outlook Confirmed With Q4 Organic Growth Indicated at High-Single Digit

Management confirmed the full-year 2026 organic sales growth outlook of 7–8%, inclusive of a close to 1 percentage point negative effect from exiting certain countries. The adjusted EBITDA margin is expected to land at the higher end of the 37–38% guided range. President and CEO Ester Baiget stated that confidence in the full-year outlook is supported by a solid start to the fourth quarter, with Q4 organic sales growth specifically indicated at high-single digit. Investors may be watching whether Novonesis can sustain its profitability trajectory while absorbing the MicroBioGen integration costs.