Copenhagen, June 19 - Danisco is expected to report an 18 percent drop in full-year operating profit next week, when the focus will be on the Danish ingredients group's outlook for 2009-10.
The average forecast for earnings before interest and tax (EBIT) for the year to end-April was 1.22 billion Danish crowns ($228 million), according to a Reuters survey on Friday.
Sales were forecast up 6.4 percent at 13 billion crowns. The results were due on Wednesday, June 24.
In May, Danisco raised its 2008-09 operating profit guidance to 1.23-1.25 billion crowns.
"Danisco has removed the excitement from the report. The changes in the company's guidance show how difficult it has been to predict the development, and the market will be focusing on Danisco's expectations for the coming financial year", Jyske Bank said in a research note.
Fourth-quarter consensus on pretax profit includes write-downs on goodwill of 24 million crowns.
Danisco sells enzymes and ingredients used to produce items such as ice cream, soft drinks, jeans, detergents and biofuels, after it sold its sugar business to Germany's Nordzucker in March.
Of seven analysts who disclosed their rating on its stock, four were positive, two were neutral, and one was negative.
All figures in millions of Danish crowns, except EPS and dividend which are in crowns:
2008-09 Mean Median High Low No. Yr ago
Total sales 12,999 13,000 13,056 12,910 9 12,219
EBITDA 1,827 1,813 1,942 1,725 3 2,201
EBIT (group) 1,224 1,229 1,246 1,163 9 1,499
Pretax profit 357 350 445 275 9 1,203
Net profit 88 88 150 -4 9 770
EPS 1.84 1.84 3.14 -0.08 9 16.04
Dividend per share 6.55 6.55 7.50 5.59 2 7.50
Special items -753 -750 -750 -780 9 -95
Fourth quarter Mean Median High Low No. Yr ago
Total sales 3,318 3,319 3,375 3,229 9 3,104
EBITDA 376 363 491 275 3 488
EBIT (group) 292 297 315 232 9 319
Pretax profit 193 186 268 140 9 216
Net profit 130 130 192 38 9 95
EPS 2.72 2.72 4.02 0.79 9 2.00
Special items -24 -21 -15 -51 9 -88
2009-10 Mean Median High Low No.
Total sales 13,620 13,551 14,322 13,221 8
EBITDA 2,048 2,037 2,116 1,990 3
EBIT (group) 1,377 1,395 1,490 1,201 8
Pretax profit 1,135 1,133 1,290 955 8
Net profit 752 761 825 611 8
EPS 15.73 15.91 17.26 12.78 8
Dividend per share 4.72 4.72 4.72 4.72 1
Special items -3 0 0 -20 7
The following banks provided the estimates: Alm Brand, Cheuvreux, Dansk Aktie Analyse, Danske Bank, Goldman Sachs, Handelsbanken Capital Markets, Jyske Bank, Proactive Independent Ideas and Sydbank.