Click below to download The Novozymes Report 2015 in PDF format.

  •  The big picture
  •  Our business
  •  Governance
  •  Accounts and performance
  •  Supplementary


The Novozymes stock is listed on Nasdaq Copenhagen and included in the OMX Copenhagen 20 CAP index.


Novozymes' common stock consists of two types: A shares and B shares, both with a nominal value of DKK 2 per share. All A stock is held by Novo A/S, and an A share carries 10 times as many votes as a B share. At the end of 2015, Novo A/S held 25.5% of the total common stock and, through its holding of the A stock and a proportion of the B stock (26,071,400 shares), controlled 70.7% of the votes. Novo A/S, domiciled in Hellerup, Denmark, is wholly owned by the Novo Nordisk Foundation, and Novozymes is therefore included in the consolidated financial statements of the Novo Nordisk Foundation.

At year-end, Novozymes had more than 63,000 shareholders, of whom 99% were private shareholders in Denmark. Twenty institutional investors, including Novo A/S, owned approximately 50% of the B shares. Around 66% of the B shares were held outside Denmark. Novozymes held 3.7% of the B stock, equivalent to 3.1% of the total common stock.

Besides Novo A/S, only Bailie Gifford & Co. held more than 5% of Novozymes' common stock on December 31, 2015.

Stock performance

Novozymes' share price increased by 27% during the year. In comparison, the OMXC20CAP gained 29%.

###FACT:DEVELOPMENT###The average daily trading volume of Novozymes' stock in 2015 was 640,756 shares, or DKK 200 million, making it the ninth most actively traded company on Nasdaq Copenhagen, compared with eighth in 2014. At year-end, the total market value of Novozymes' B shares was DKK 85.7 billion, and the value of the nontraded A shares was DKK 17.8 billion, assuming the same value per share as for the B shares.

Over the past five years, Novozymes' stock has generated an average annual return (compounded) to shareholders of 16%. Total shareholder return in 2015 was 28% including dividends.


The Board of Directors proposes that the Annual Shareholders' Meeting approve a dividend of DKK 3.50 per share for the 2015 financial year. This will result in an expected total dividend payment of approximately DKK 1,062 million, corresponding to a payout ratio of 37.6%.

The dividend for 2015 will be disbursed on February 29, 2016, and the last trading day with right to dividend for 2015 is February 24, 2016.###FACTBOX:RETURN###

Novozymes plans to increase the payout ratio to 40% over the next few years.

Stock buyback program in 2015

A DKK 2 billion buyback program was implemented from January 29 to November 23. Under the program, 6,389,173 shares were purchased and added to treasury stock.

New stock buyback program in 2016

Novozymes has decided to initiate a new stock buyback program worth up to DKK 2 billion in total or a maximum of 20 million shares. The program is expected to begin early in 2016 and run for the remainder of the year. The shares acquired within the program will be used to reduce the common stock and to meet obligations arising from employee share incentive programs.


Investor Relations

Novozymes' Investor Relations aims to ensure that relevant, timely and accurate information is made available to the capital markets, and to create awareness of and confidence in Novozymes' purpose, strategy, policies and decisions.

Novozymes' Investor Relations maintains an ongoing dialogue with sell-side equity analysts, as well as major institutional and retail shareholders. A list of the current analysts covering Novozymes can be found at

Visit our website for financial reports, current presentations, factsheets, tools and other downloads, and information for both private and institutional shareholders. 

Financial calendar

Feb. 24,
Annual Shareholder Meeting 2016
Apr. 20,
Interim report for the first 3 month of 2016
Aug. 10,
Interim report for the first half of 2016
Oct. 26,
Interim report for the first 9 months of 2016
Jan. 18,
Group financial statements for 2016
A stock B stock Total
Share capital (DKK)
Number of shares
Held by Novo A/S (%)
Number of votes
Voting rights (%)
Held by Novo A/S (%)