Enzymes producer firm Novozymes presented lower-than-expected earnings on Wednesday on what its CEO considered "weak sales."
Its earnings before interest and tax stood at 973 million Danish crowns ($142 million) in the third quarter of this year. This is lower than the 1.03 billion Danish crowns that a Reuters poll had forecast.
"It's, of course, weak sales in the third quarter," Peder Holk Nielsen, CEO of Novozymes, told CNBC on Wednesday.
The company's shares took a hammering in early trade Wednesday down 11.5 percent.