Core Viewpoint - Novonesis reported a strong 9% organic sales growth in the first half of 2025, leading to a narrowed full-year outlook of 6-8% organic sales growth, reflecting robust demand for its biosolutions [1][2]. Financial Performance - The company achieved a 9% organic sales growth in H1, with Q2 growth at 8%, driven by approximately 1 percentage point from price increases [3]. - The Food & Health segment saw a 10% organic sales growth, while the Planetary Health segment reported 9% organic sales growth [3]. - Emerging markets experienced a 12% organic sales growth, compared to 8% in developed markets [3]. - Adjusted EBITDA margin improved to 37.4%, up by 210 basis points from the previous quarter [3]. - Adjusted net profit increased by 23% in H1, with Q2 growth at 19% [3]. Strategic Developments - The company has reached a 100% run rate for cost synergies, up from 80% previously [3]. - Net Interest-Bearing Debt (NIBD) to EBITDA ratio stands at 2.1x, following the acquisition of dsm-firmenich's part of the Feed Enzyme Alliance [4]. - A EUR 100 million share buyback program was completed on June 27, 2025 [4]. - The interim dividend of 2.25 DKK (EUR 0.30) was approved for the first half of 2025 [4]. Future Outlook - The full-year organic sales growth outlook has been narrowed to 6-8%, previously 5-8%, and 7-9% excluding exits from certain countries [4]. - The adjusted EBITDA margin is expected to remain between 37-38%, despite currency headwinds [4]. - Novonesis announced its long-term financial targets towards 2030, with a strategy to be presented in an upcoming conference call [5].