On Tuesday January 25, 2011, we issued a company announcement updating Cheminova’s business plan from 2008. The business plan sets out the group’s overall targets and strategy based i.a. on a number of assumptions concerning developments within the industry and the market for crop protection products.
Highlights in the company announcement:
- Since 2008 strong growth from new products which are also expected to contribute to improving earnings in the coming years.
- Lower overall growth than expected in the business plan due to lower revenue from glyphosate and fewer acquisitions of products, activities and businesses.
- The target of a market share of 5% in 2015 is no longer realistic, but the strategy outlined in the business plan is maintained.
- Focus on higher earnings and reducing debt. Together with growth from new products, rationalisations and strict cost control will increase earnings in the coming years. Moreover, improvements in the working capital will contribute to reducing debt.
- New products contribute just over DKK 1 billion more revenue than in 2008
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President & CEO Kurt Pedersen Kaalund says:
- I regret that our plan entails a number of job cuts among our highly competent employees who have all played an important role in the development up until now.
- However, we need to increase earnings and improve cash flows to finance future investments.
- Only by continuing on this path can we ensure that Cheminova will remain a strong and attractive company for the benefit of all stakeholders.
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 Download the shareholder letter and read more 
Read more about Auriga's expectations to revenue and earnings in the coming years in the company announcement "Outlook 2010 confirmed, business plan update and adjustment of capacity" of January 25, 2011
The shareholder letter was forwarded by ordinary mail to Auriga’s shareholders and released as Investor News via GlobeNewswire, NASDAQ OMX Copenhagen.
See Auriga’s investor news
See Auriga's shareholder letters 2010
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