2009 - SUSTAINABLE DEVELOPMENT AND GROWTH - PAVE THE WAY FOR "FIVE-IN-FIFTEEN"

Company announcement no. 1/2010
March 23, 2010

SUSTAINABLE DEVELOPMENT AND GROWTH - PAVE THE WAY FOR "FIVE-IN-FIFTEEN" 

(Figures in brackets are figures for 2008)

Very satisfactory progress with the development of and growth from Cheminova's
new products resulted in improved market share. However, the strong glyphosate
price erosion resulted in a modest operating profit. The results are not
satisfactory, but in line with the outlook announced in the interim report for
Q3 2009. 

* Auriga's revenue declined by 4% to DKK 5,437 million (DKK 5,664 million).
Measured at unchanged exchange rates, revenue would have declined by 2%. 

* The operating profit (EBIT) was DKK 11 million (DKK 515 million), especially
on account of significantly impaired market conditions for glyphosate. 

*The group realised a positive cash flow from operating activities of DKK 299
million against DKK -342 million last year, which is better than expected. 

*Strict cost control and implemented improvements have reduced overheads which
are generally speaking on a par with 2008 despite the full consolidation of
Stähler from March 1. 

*Despite a declining market for crop protection products, Cheminova succeeded
in gaining market share in 2009 through development and growth from new
products, which supports the long-term objectives outlined in the Business Plan
“Five-in-Fifteen”. 

*The Board of Directors recommends to the annual general meeting on April 22,
2010 that dividend of DKK 2.40 per share be distributed against DKK 5.75 last
year. 

*A firm dividend policy is introduced according to which the intention is to
distribute at least DKK 2.40 per share each year with a payout ratio of 35% of
the profit after tax and minority interests. 

OUTLOOK 2010
The outlook for 2010 is based on:

*A slightly growing market for crop protection products based on relatively
high world market prices for the most important crops and normal climatic
conditions. 

*Continued development and growth from new products for Cheminova to continue
gaining new market share. 

*Exposure as regards glyphosate will be reduced further, and the contribution
margin will be returning to normal. 

*A late start to the season and lower glyphosat prices compared to 2009 will
reduce earnings in the first two quarters of the year. 

Depending on climatic conditions, the development in agriculture and the
agrichemical sector in 2010, Auriga expects revenue of approx. DKK 5,600
million and an operating profit (EBIT) at the level DKK 300-400 million as well
as an improved cash flow from operating activities relative to 2009. 

WEBCAST AND TELECONFERENCE
The annual report will be presented at an analysts' meeting on March
23, 2010, at 9:30h Danish time in Copenhagen. The presentation will be
conducted in English and can be viewed live as webcast on
www.auriga-industries.com, where the presentation can be found as well. An
indexed version of the webcast will be available on the 
websites afterwards. 

A teleconference will be held in connection with the webcast. 
Please, find further information on www.auriga-industries.com. 

MORE INFORMATION:

Kurt Pedersen Kaalund
President & CEO
Tel. +45 7010 7030
investor@auriga.dk

Jens Ole Jensen
Vice President
Tel. +45 7010 7030
investor@auriga.dk