
Presented below are DSM's net sales, balance sheet, income statement and cash flow statement as at H1 2022*.
* 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 report full financial details for half year and full year results and host calls for the media and analysts for both.
Year | Q1 | Q2 | Q3 | Q4 | Total |
---|---|---|---|---|---|
2022 | 2,008¹ | 2,107¹ | |||
2021 | 1,727¹ | 1,790¹ | 1,825¹ | 1,928¹ | 7,269¹ |
2020 | 2,045² | 2,020² | 1,961² | 2,080² | 8,106² |
2019 | 2,021² | 2,008² | 2,035² | 1,934² | 7,998² |
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 |
¹ Figures reflect continuing operations which include DSM’s Health, Nutrition & Bioscience and Corporate Activities. In May 31, 2022 DSM announced the sale of DSM Protective Materials and DSM Engineering Materials. All of DSM’s Materials businesses were reclassified to discontinued operations.
² 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.
Assets in € million | 30 June 2022 | Year-end 2021 |
---|---|---|
Intangible Assets | 5,192 | 5,309 |
Property, Plant & Equipment | 3,570 | 3,964 |
Deferred Tax Assets | 133 | 203 |
Prepaid pension cost | 35 | 75 |
Share in Associates & Joint Ventures | 63 | 64 |
Financial derivatives | 78 | 48 |
Other Financial Assets | 203 | 227 |
Non-Current Assets | 9,274 | 9,890 |
Inventories | 2,394 | 2,297 |
Trade Receivables | 1,679 | 1,604 |
Income tax receivables | 55 | 61 |
Other Current Receivables | 40 | 32 |
Derivatives | 55 | 30 |
Current Investments | 838 | 489 |
Cash & Cash Equivalents | 792 | 1,561 |
Sub-total | 5,853 | 6,074 |
Assets Held for Sale | 1,726 | 56 |
Current Assets | 7,579 | 6,130 |
Total Assets | 16,853 | 16,020 |
Shareholders' Equity | 9,731 | 9,318 |
Non-controlling interest | 92 | 79 |
Equity | 9,823 | 9,397 |
Deferred Tax Liabilities | 491 | 490 |
Employee Benefits Liabilities | 241 | 323 |
Provisions | 87 | 96 |
Borrowings | 2,985 | 2,995 |
Derivatives | 17 | 9 |
Other Non-current Liabilities | 189 | 280 |
Non-current liabilities | 4,010 | 4,193 |
Employee Benefits | 20 | 21 |
Provisions | 67 | 68 |
Borrowings | 98 | 103 |
Derivatives | 58 | 40 |
Trade Payables | 1,541 | 1,571 |
Income tax payable | 97 | 77 |
Other Current Liabilities | 611 | 540 |
Sub-total | 2,492 | 2,420 |
Liabilities associated with the assets held for sale | 528 | 10 |
Current Liabilities | 3,020 | 2,430 |
Total Equity and Liabilities | 16,853 | 16,020 |
Net debt | 1,395 | 1,019 |
Equity/Total Assets | 58% | 59% |
Continuing operations in € million | H1 2022 | H1 2021 |
---|---|---|
Sales | 4,115 | 3,517 |
Gross margin | 1,426 | 1,265 |
Operating profit (EBIT) | 398 | 394 |
Financial income and expense | -39 | -65 |
Profit before income tax expense | 359 | 329 |
Income tax expense | -72 | -64 |
Share of the profit of associates/ joint control entities |
4 | 20 |
Net profit from continuing operations | 291 | 285 |
Of which: | ||
Attributable to non-controlling interests | 8 | 2 |
Dividend on cumulative preference shares | 1 | 4 |
Available to holders of ordinary shares | 449 | 1,004 |
Condensed Consolidated Statement of Comprehensive Income in € million | H1 2022 | H1 2022 |
---|---|---|
Net profit for the period | 458 | 1,010 |
Other comprehensive income | ||
Remeasurements of Defined Benefit Pension Plans | 31 | 199 |
Change in Fair Value Reserve | -31 | 208 |
FX on Translation of Foreign Operations Related to Non-Controlling Interest | 4 | 3 |
Items that will not be reclassified to profit or loss | 4 | 410 |
FX on Translation of Foreign Operations | 489 | 152 |
Change in Hedging Reserve | 8 | -12 |
Equity accounted investees - share of Other comprehensive income | 2 | |
Items that may subsequently be reclassified to profit or loss | 497 | 142 |
Other Comprehensive Income (before tax) | 501 | 552 |
Income Tax Expense | -15 | -22 |
Other Comprehensive Income (net of tax) | 486 | 530 |
Total Comprehensive Income | 944 | 1,540 |
in € million | H1 2022 | H1 2021 |
---|---|---|
Cash, Cash Equivalents and Current Investments (at beginning of period) | 1,561 | 871 |
Operating Activities | ||
EBITDA | 933 | 1,548 |
Change in Working Capital | -596 | -260 |
Income Tax | -72 | -51 |
Other | 34 | -658 |
Cash provided by Operating Activities (Operating cash flow) | 299 | 579 |
of which provided by continuing operations | 216 | 372 |
Investing Activities | ||
Capital Expenditures | -299 | -236 |
Payments regarding drawing rights | -2 | -5 |
Acquisitions | -212 | |
Disposal of Subsidiaries, Businesses & Associates | -6 | 1462 |
Disposal of Other Non-current Assets | 24 | 131 |
Change in Fixed-term Deposits | -348 | -172 |
Interest Received | 1 | 3 |
Dividend and capital (re)payments | -16 | -19 |
Other | -16 | 18 |
Cash used in Investing Activities | -662 | 970 |
Financing Activities | ||
Dividend | -156 | -170 |
Interest Paid | -34 | -46 |
Repurchase of shares | -210 | -120 |
Proceeds from re-issued treasury shares | 14 | 18 |
Change in Commercial Paper | 0 | |
Proceeds from / repayments of corporate bonds | 0 | -500 |
Payment of lease liabilities | -29 | -27 |
Other Cash from/ used in Financing Activities | -6 | 74 |
Cash from / used in Financing Activities | -421 | -771 |
Exchange Differences | 15 | -9 |
Cash and Cash Equivalents (end of period) | 792 | 1,640 |
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