DSM reports H1 2020 results
DSM reports a solid H1 2020 in a challenging COVID-19 environment, overall earnings outlook remains suspended.
04 Aug 2020
DSM at a glance
Overview of our business & performance
Why invest in DSM?
Our investor proposition
- at-a-glance
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Key facts & figures
Royal DSM is a global purpose-led, science-based company in Nutrition, Health and Sustainable Living. DSM’s purpose is to create brighter lives for all. With its products and solutions DSM addresses some of the world’s biggest challenges whilst creating simultaneously economic, environmental and societal value for all its stakeholders; customers, employees, shareholders, and society-at-large. DSM delivers innovative solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 23,000 employees. The company was founded in 1902 and is listed on Euronext Amsterdam.
A broad, global nutrition business and a focused, high-quality, specialty materials portfolio
~€10b
Sales per year
~70%
In nutrition
~20%
Sales from innovation
~23,000
Employees
- NUTRITION
- MATERIALS
Nutrition
We provide nutritional solutions for animal health and human well-being, serving the global feed, food & beverage, pharmaceutical, infant nutrition, dietary supplements and personal care industries.
Animal Nutrition & Health
2019
Sales: ↑€2,892 (2018: €2,749)
Organic Growth: ↑4%
Volume Growth: ↑2%
Price Growth: ↑2%
Human Nutrition
2019
Sales: ↑€2,046 (2018: €1,989)
Organic Growth: ↓1%
Volume Growth: ↑2%
Price Growth: ↓3%
Sales1
€6,028m
Adjusted EBITDA1
€1,250M
Adjusted EBITDA Margin1
20.7%
1) Underlying business, net of temporary vitamin effect
Materials
Advanced and high-performance materials for the electrical & electronics, automotive, packaging, consumer goods, life protection, transportation and telecom industries.
Sales
€2,746M
Adjusted EBITDA
€509M
Adjusted EBITDA Margin
18.5%
People performance 2019
Workforce 22,174
at year-end 2019, excluding affiliates
Engagement 74%
Favorable, 92% response rate (2018: 76%)
Gender 28♀/72♂
Ratio (2018: 28♀/72♂)
Safety Index 0.28
Frequency Recordable Injuries (2018: 0.33)
20% ♀ Executives
Percentage ♀ executives (2018: 19%)
- workforce
- engagement
- gender
- safety
- execs
Planet performance 2019
GHG ~17%
GHG scope 1 + 2 reduction - cumulative structural improvement1 (2018: ~8%)
- We estimate that the effect of the underlying cumulative structural improvements in absolute GHG emissions was approximately 17% and 8% in 2019 and 2018 respectively, versus the 2016 baseline. The total cumulative absolute reduction was 25% and 18% respectively, versus the 2016 baseline.
Electricity 50%
Purchased from renewable sources (2018: 41%)
Energy 2.3%
Efficiency improvement year-on-year (2018: 1.4%)
- ghg
- ghg note
- electricity
- efficiency
Profit performance 2019
€9,010m
Net sales (2018: €8,852m1)
€1,684m
Adjusted EBITDA2 (2018: €1,532m1)
+10%
Adjusted EBITDA growth2 (vs. 20181)
€801m
Adjusted net operating free cash flow2 (2018: €545m1)
+47%
Adjusted net operating free cash flow growth2 (vs. 20181)
21%
Innovation sales (ambition ~20%)
€764m
Net profit (2018: €1,079m3)
€4.27
Net earnings (2018: €6.103)
€4.64
Adjusted net earnings (2018: €5.84)
€2.40
Dividend4 (2018: €2.30)
- Excludng temporary vitamin effect in 2018 of €415 million sales and €290 million (Adjusted) EBITDA.
- Including the impact of IFRS 16.
- 2018 includes the temporary vitamin effect and the book profit on the sale of DSM Sinochem Pharmaceuticals.
- Approved by the Annual General Meeting of Shareholders 2020.
- net-sales
- adj-ebitda
- adj-ebitda-growth
- adj-net-operating-free-cash-flow
- adj-net-operating-free-cash-flow-growth
- innovation
- net-profit
- net-earnings
- adj-net-earnings
- dividend
- notes
Latest financial & regulatory news
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DSM issues €1 billion long-term bonds to finance acquisition of Erber Group
New bonds in two tranches of €500m allow DSM to lock-in low interest rates to finance the acquisition of the Erber Group.
17 Jun 2020
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DSM finalizes share repurchase to cover share plans and stock dividend and cancels remainder of its €1 billion share buy-back
As prudent measure given Covid-19 environment and acquisition of Erber Group, DSM cancels remainder of €1 billion share buy-back program.
12 Jun 2020
Managing Board
Geraldine Matchett, Co-CEO
Geraldine Matchett is Co-Chief Executive Officer, Chief Financial Officer and Member of the Managing Board. She was appointed as Co-CEO on 15 February 2020 and joined DSM’s Managing Board in 2014. Her current term will end in 2022.
Dimitri de Vreeze, Co-CEO
Dimitri de Vreeze is Co-Chief Executive Officer, Chief Operating Officer and Member of the Managing Board. He was appointed as Co-CEO on 15 February 2020 and joined DSM’s Managing Board in 2013. His current term will end in 2021.
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Factbooks
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Share performance
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