Press release

DSM reports Q3 2015 results

Heerlen, NL, 03 Nov 2015 07:15 CET

Highlights

  • Sales up 8%, driven by 7% organic growth in Nutrition and foreign exchange
  • Solid volume growth in Human Nutrition; very strong volume growth in Animal Nutrition
  • Nutrition EBITDA: negative impact of vitamin E and Swiss franc largely offset
  • Performance Materials EBITDA: improved on lower input costs and cost savings despite soft sales
  • Strong operating cash flow of €300 million
  • 2015 outlook maintained

Key figures & indicators

Q3 2015Q3 2014YoYin € millionVolumePrice/mixExch. rateOther
   Group    
1,9451,7948%Sales2%-1%6%1%
2872812%EBITDA    
   Nutrition    
1,2531,09115%Sales6%1%6%2%
213225-5%EBITDA    
   Performance Materials    
631638-1%Sales-3%-5%7%0%
1028717%EBITDA    

CEO statement

Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “DSM continued to make good progress in Q3 in both EBITDA and cash generation. These results demonstrate the benefits of our focus on improving our operational performance. We are starting to implement the previously announced €125-150 million cost reduction program for the DSM-wide support functions. Tomorrow at our Capital Markets Day, we will announce our strategy and targets for the coming years, as well as an additional efficiency and cost reduction program in Nutrition.

It is increasingly difficult to predict macro-economic developments. Assuming no major changes in current market conditions for the remainder of this year, we maintain our full year outlook to deliver an EBITDA in 2015 ahead of 2014, the increase mainly driven by positive foreign exchange effects.”

Key figures & indicators

Q3 2015Q3 2014+/-in € millionvolumeprice/mixexch. ratesother
   Net sales    
1,2531,09115%Nutrition6%1%6%2%
631638-1%Performance Materials-3%-5%7% 
42405%Innovation Center-5%-1%11% 
1925 Corporate Activities    
1,9451,7948%Total continuing operations2%-1%6%1%
157529 Discontinued  operations    
Q3 2015Q3 2014+/-in € millionJan - Sep 2015Jan - Sep 2014+/-
   EBITDA   
213225-5%Nutrition616650-5%
1028717%Performance Materials29424321%
0-4 Innovation Center-8-15 
-28-27 Corporate Activities-88-94 
2872812%Total continuing operations8147844%
334 Discontinued operations9494 
123132-7%Core net profit (continuing operations)340360-6%
106113-6%Net profit before exceptional items, continued operations285312-9%
3693-61%Net profit after exceptional items, total DSM65252-74%
123132-7%Core net profit (continuing operations)340360-6%
106113-6%Net profit before exceptional items, continued operations285312-9%
3693-61%Net profit after exceptional items, total DSM65252-74%
0.70.76-8%Core EPS (€/share)1.952.08-6%
0.590.64-8%Net EPS before exceptional items, continuing operations (€/share)1.611.78-10%
0.190.51-63%Net EPS after exceptional items, total DSM (€/share)0.331.41-77%
300252 Cash flow from continuing operations487387 
11387 Capital expenditures continuing operations (cash, net of customer funding)321269 
   Net debt2,3952,420* 

* Year-end 2014

You can find the press release in full, including financial statements, below.

For more information

Lieke de Jong-Tops

Senior Communications Manager
+31 45 578 2420
media.contacts@dsm.com

Dave Huizing

Vice President Investor Relations
+31 45 578 2864
investor.relations@dsm.com

Media Relations

+31 45 578 2420

Investor Relations

+31 45 578 2864