Following Auriga’s divestment of the subsidiaries Hardi and Skamol, Cheminova is the only subsidiary in the Auriga Group. Consequently, the addition of value will be concentrated on the development of Cheminova, which has a healthy foundation for strong organic growth.
Mission
Cheminova’s mission is to control unwanted insects, plants and fungi in order to secure the global supply of food and plant fibre and to improve the living conditions of the world’s population in general.
Objectives and strategy
Cheminova’s objective is to be the best innovative global supplier of generic products within the agrochemical industry.
Cheminova’s strategy is to optimise and develop the company’s five core competences: to identify, develop, register, manufacture and market known plant protection products better and more cheaply than any other company in the industry.
In the 2008-2010 period, revenue and earnings must be increased through the introduction of new products, through improvements in production and all other functions and through active participation in the expected structural rationalisation process in the industry. The target is, through organic growth alone, to increase revenue to DKK 5.5 billion.
Organisation
With a view to optimising the decision-making processes and working procedures, a new global organisation was established on January 1, 2008.
The most important changes are:
- Four regions have been established: Europe, ANZAC (Australia, New Zealand, the USA and Canada), Latin America and International, and four regional presidents have been appointed who report to the Group’s Board of Executives. Cheminova India is continuing as a subsidiary with its own Board of Directors.
- Together with the senior vice presidents, the Vice President for Portfolio Management and the Board of Executives, the four regional presidents make up Cheminova’s top management.
Cheminova has approx. 1,600 employees. Of these, 800 are employed at Rønland in Denmark and 800 in subsidiaries and representative offices abroad.
The locations of subsidiaries, joint venture companies and representative offices are marked in red (as of March 2008).
Profit
| Cheminova – financial highlights |
| DKKm |
2007 |
2006 |
2005 |
2004 |
2003 |
| Revenue |
4,361 |
4,032 |
4,017 |
4,094 |
3,420 |
|
EBITDA |
338 |
184 |
639 |
837 |
540 |
|
EBIT |
160 |
18 |
458 |
646 |
336 |
|
Profit/loss before tax |
91 |
(71) |
369 |
607 |
251 |
|
Tax |
25 |
69 |
107 |
204 |
104 |
|
Research and development |
138 |
131 |
127 |
122 |
134 |
|
Staff costs |
514 |
486 |
448 |
425 |
427 |
|
Number of employees (avg.) |
1,610 |
1,608 |
1,534 |
1,505 |
1,541 |
Product development
A key contributor to Cheminova’s organic growth is its capacity to continue to develop and launch new generic products with significant market potential.
The Business Plan, which covers the period up until and including 2010, contains an extensive programme for the development of new active ingredients which will be marketed in a large number of countries. On average, three new substances will be introduced each year. In addi-tion, several new products will be introduced locally by the subsidiaries. Development and innovation are covered in more detail later in the present report.
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