Financial figures

Overview of DSM's latest financial key figures

Key financials

Presented below are DSM's latest net sales as at Q1 2021 and the latest balance sheet, income statement and cash flow statement as at year-end 2020.

From Q1 2021 onwards, in line with the established practice of many of DSM's consumer ingredients peers, we provide trading updates for Q1 and Q3 reporting sales, organic growth, Adjusted EBITDA and Adjusted EBITDA margins.

We will report full financial details for half year and full year results and host calls for the media and analysts for both.

Net sales (as at Q1 2021)

in € million

Year Q1 Q2 Q3 Q4 Total
2021 2,194        
2020 2,045* 2,020* 1,961* 2,080* 8,106*
2019 2,021* 2,008* 2,035* 1,934* 7,998*
2018 2,435 2,359 2,265 2,208 9,267
2017 2,159 2,161 2,136 2,176 8,632
2016 1,913 1,994 1,998 2,015 7,920
2015 1,886 1,754 2,102 1,926 7,722
2014 2,298 2,288 2,323 2,175 9,181
2013 2,376 2,468 2,397 2,377 9,618
2012 2,290 2,268 2,304 2,269 9,131
2011 2,234 2,265 2,322 2,227 9,048
2010 1,933 2,120 2,041 2,082 8,176
2009 1,578 1,664 1,725 1,758 6,725
2008 2,303 2,406 2,336 2,034 9,079

*  Figures reflect the reclassification of the DSM’s Resins & Functional Materials businesses to discontinued operations. The sale with an equity value of €1.6 billion was subsequently finalized on 01 April 2021.

Balance sheet (as at year-end 2020)

Assets in € million Year-end 2020 Year-end 2019
Intangible Assets 4,455 3,515
Property, Plant & Equipment 3,774 4,040
Deferred Tax Assets 239 217
Share in Associates & Joint Ventures 93 155
Financial derivatives 61 27
Other Financial Assets 317 265
Non-Current Assets 8,939 8,219
Inventories 1,879 2,019
Trade Receivables 1,391 1,592
Income tax receivables 35 61
Other Current Receivables 62 45
Financial Derivatives 48 19
Current Investments 43 688
Cash & Cash Equivalents 871 800
Sub-total 4,329 5,224
Assets Held for Sale 1,096 -
Current Assets 5,425 5,224
Total Assets 14,364 13,443
Shareholders' Equity 7,399 7,731
Non-controlling interest 88 104
Equity 7,487 7,835
Deferred Tax Liabilities 433 296
Employee Benefits Liabilities 414 413
Provisions 123 120
Borrowings 3,479 2,464
Financial derivatives 1 7
Other Non-current Liabilities 163 145
Non-current liabilities 4,613 3,445
Employee Benefits 42 43
Provisions 61 48
Borrowings 107 189
Financial Derivatives 13 18
Trade Payables 1,218 1,345
Income tax payable 53 42
Other Current Liabilities 516 478
Sub-total 2,010 2,163
Liabilities associated with the assets held for sale 254 -
Current Liabilities 2,264 2,163
Total Equity and Liabilities 14,364 13,443
Net debt 2,577 1,144
Equity/Total Assets  52% 58%

Income statement (as at year-end 2020)

Condensed consolidated statements of income full year 2020

Continuing operations in € million Full year 2020 Full year 2019
Sales 8,106 7,998
EBITDA 1,368 1,457
Depreciation and amortization  706 585
Operating profit (EBIT) 662 872
Financial income and expense -67 -92
Profit before income tax expense 595 780
Income tax expense -106 -145
Share of the profit of associates/ joint control entities -32 54
Net profit from continuing operations 457 689
Of which:    
Attributable to non-controlling interests 2 -4
Attributable to equity holders of DSM  459 685
Dividend on cumulative preference shares -7 -8
Available to holders of ordinary shares 452 677
Discontinued operations in € million Full year 2020 Full year 2019
Net profit from discontinued operations 51 75
Of which:    
Attributable to non-controlling interests -4 -2
Attributable to equity holders of DSM  47 73
Total in € million Full year 2020 Full year 2019
Net profit 508 764
Of which:    
Attributable to non-controlling interests -2 -6
Attributable to equity holders of DSM  506 758
Dividend on cumulative preference shares -7 -8
Net profit available to holders of ordinary shares 499 750
Depreciation and amortization - continuing operations  434 422

Reconciliation to Alternative Performance Measures full year 2020

Continuing operations in € million Full year 2020 Full year 2019
EBITDA 1,368 1,457
Acquisitions/divestments  52 13
Restructuring  103 64
Other 11 17
Sub-total APM adjustments to EBITDA 166 94
Adjusted EBITDA 1,534 1,551
Operating profit (EBIT) 662 872
APM adjustments to EBITDA 166 94
Impairments of PPE and Intangible assets 101 23
Sub-total APM adjustments to operating profit (EBIT) 267 117
Adjusted operating profit (EBIT) 929 989
Net profit from continuing operations 457 689
APM adjustments to operating profit (EBIT) 267 117
APM adjustments to financial income and expense 0 0
Income tax related to APM adjustments -54 -26
APM adjustments to share of the profit of associates/ joint control entities 41 -28
Sub-total APM adjustments 254 63
Adjusted Net profit continuing operations 711 752
Net profit continuing operations available to holders of ordinary shares 452 677
APM adjustments 254 63
Adjusted Net profit continuing operations available to holders of ordinary shares 706 740

Cash flow statement (as at year-end 2020)

in € million 2020 2019
Cash, Cash Equivalents and Current Investments (at beginning of period) 1,488 2,558
Current Investments (at beginning of period) 688 1,277
Cash & Cash Equivalents (at beginning of period) 800 1,281
Operating Activities    
EBITDA 1476 1,586
Change in Working Capital 25 -13
Income Tax -124 -140
Other 117 -48
Cash provided by Operating Activities (Operating cash flow) 1,494 1,385
of which provided by continuing operations 1,360 1,265
Investing Activities    
Capital Expenditures -609 -627
Payments regarding drawing rights -17 -14
Acquisitions -1,533 -556
Disposal of Subsidiaries, Businesses & Associates -2 37
Disposal of Other Non-current Assets 48 7
Change in Fixed-term Deposits 646 588
Interest Received 8 10
Dividend and capital (re)payments  -15 22
Other -8 8
Cash used in Investing Activities -1,482 -525
Financing Activities    
Dividend -289 -291
Interest Paid  -54 -62
Repurchase of shares -309 -869
Proceeds from re-issued treasury shares 63 180
Proceeds from/ repayments of corporate bonds 991 -300
Payment of lease liabilities -55 -53
Other Cash from/ used in Financing Activities -264 63
Cash from/ used in Financing Activities 83 -1,332
Exchange Differences -24 -9
Cash and Cash Equivalents (end of period) 871 800
Current Investment (end of period)  43 688
Cash and Cash Equivalents & Current Investments (end of period) 914 1,488

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