Financial figures

Overview of DSM's latest financial key figures

Overview as at publication full year 2019 results

Presented below are DSM's net sales from continuing operations, adjusted net earnings per ordinary share, balance sheet, income statement and finally, cash flow statement, as at FY 2019.

Net sales (continuing operations) in € million

Year Q1 Q2 Q3 Q4 Total
2019 2,292 2,276 2,290 2,152 9,010
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

Adjusted net earnings per ordinary share (continuing operations)

Year Q1 Q2 Q3 Q4 Total
2019 1.12 1.20 1.36 0.96 4.64
2018 1.91 1.73 1.18 1.02 5.84
2017 0.92 0.98 0.91 1.11 3.92
2016 0.60 0.76 0.81 0.73 2.90
2015 0.39 0.63 0.59 0.53 2.14
2014 0.57 0.64 0.69 0.52 2.42
2013 0.70 0.79 0.76 0.58 2.84
2012 0.87 0.67 0.61 0.43 2.58
2011 0.91 0.97 0.94 0.71 3.53
2010 0.70 0.92 0.76 0.63 2.89
2009 0.05 0.22 0.53 0.56 1.44
2008 0.81 1.00 0.97 0.25 3.04

Balance sheet

Assets in € million Year-end 2019 Year-end 2018
Intangible Assets 3,515 3,090
Property, Plant & Equipment 4,040 3,511
Deferred Tax Assets 217 248
Share in Associates & Joint Ventures 155 205
Financial derivatives 27 14
Other Financial Assets 265 263
Non-Current Assets 8,219 7,331
Inventories 2,019 1,993
Trade Receivables 1,592 1,575
Income tax receivables 61 83
Other Current Receivables 45 80
Financial Derivatives 19 21
Current Investments 688 1,277
Cash & Cash Equivalents 800 1,281
Current Assets 5,224 6,310
Total Assets 13,443 13,641
Shareholders' Equity 7,731 7,782
Non-controlling interest 104 33
Equity 7,835 7,815
Deferred Tax Liabilities 296 254
Employee Benefits Liabilities 413 413
Provisions 120 116
Borrowings 2,464 2,272
Financial derivatives 7 3
Other Non-current Liabilities 145 197
Non-current liabilities 3,445 3,255
Employee Benefits 43 46
Provisions 48 37
Borrowings 189 380
Financial Derivatives 18 51
Trade Payables 1,345 1,430
Income tax payable 42 100
Other Current Liabilities 478 527
Current Liabilities 2,163 2,571
Total Equity and Liabilities 13,443 13,641
Equity & Liabilities in € million 30 Sep 2019 Year-end 2018
Shareholders' Equity 8,063 7,782
Non-controlling interest 99 33
Equity 8,162 7,815
Deferred Tax Liabilities 270 254
Employee Benefits Liabilities 451 413
Provisions 109 116
Borrowings 2,459 2,272
Financial derivatives 11 3
Other Non-current Liabilities 143 197
Non-current liabilities 3,443 3,255
Employee Benefits 46 46
Provisions 36 37
Borrowings 126 380
Financial Derivatives 77 51
Trade Payables 1,365 1,430
Income tax payable 91 100
Other Current Liabilities 466 527
Current Liabilities 2,207 2,571
Total Equity and Liabilities 13,812 13,641

Income statement

Condensed consolidated statement of income FY 2019

In € million FY 2019 FY 2018
Sales 6,858 7,059
EBITDA 1,239 1,414
Operating profit (EBIT) 784 1,049
Financial income and expense -81 -75
Profit before income tax expense 703 974
Income tax expense -122 -171
Share of the profit of associates /joint control entities 59 18
Net profit 640 821
Of which:    
Profit attributable to non-controlling interests -5 -2
Net profit attributable to equity holders of DSM 635 819
Dividend on cumulative preference shares -6 -6
Net profit available to holders of ordinary shares 629 813
Depreciation and amortization 455 365

Reconciliation to Alternative Performance Measures FY 2019

In € million FY 2019 FY 2018
EBITDA 1,586 1,754
Acquisitions/divestments  13 -11
Restructuring  68 68
Other 17 11
Sub-total APM adjustments to EBITDA 98 68
Adjusted EBITDA 1,684 1,822
Operating profit (EBIT) 954 1,245
APM adjustments to EBITDA 98 68
Impairments of PPE and Intangible assets 23 32
Sub-total APM adjustments to operating profit (EBIT) 121 100
Adjusted operating profit (EBIT) 1,075 1,345
Net profit 764 1,079
APM adjustments to operating profit (EBIT) 121 100
APM adjustments to financial income and expense   0
Income tax related to APM adjustments -27 -23
APM adjustments to share of the profit of associates /joint control entities -28 -122
Sub-total APM adjustments to net profit  66 -45
Adjusted net profit 830 1,034
     
Net profit available to holders of ordinary shares 750 1,069
APM adjustments to net profit 65 -45
Adjusted net profit available to holders of ordinary shares 815 1,024

Cash flow statement

Assets in € million FY 2019 FY 2018
Cash, Cash Equivalents and Current Investments (at beginning of period) 2,558 1,853
Current Investments (at beginning of period) 1,277 954
Cash & Cash Equivalents (at beginning of period) 1,281 899
     
Operating Activities    
EBITDA 1,586 1,754
Change in Working  Capital -13 -238
Income Tax -140 -107
Other -48 -18
Cash provided by Operating Activities (Operating cash flow) 1,385 1,391
     
Investing Activities    
Capital Expenditures -627 -673
Payments regarding drawing rights -14 -20
Acquisitions -556 -22
Disposal of Subsidiaries, Businesses & Associates 37 316
Disposal of Other Non-current Assets 7 19
Change in Fixed-term Deposits 588 -322
Interest Received 10 20
Dividend and capital (re)payments  22 -75
Other 8 152
Cash used in Investing Activities -525 -605
Dividend -291 -225
Interest Paid  -62 -58
Repurchase of shares -869 -236
Proceeds from re-issued treasury shares 180 97
Proceeds from / repayment of corporate bonds -300 0
Payment of lease liabilities -53 -1
Other Cash from/ used in Financing Activities 63 22
Cash from / used in Financing Activities -1,332 -401
Exchange Differences -9 -3
Cash and Cash Equivalents (end of period) 800 1,281
Current Investment (end of period)  688 1,277
Cash and Cash Equivalents & Current Investments (end of period) 1,488 2,558

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    DSM's ordinary shares, share performance, share listings, share structure, cumulative preference shares and shareholder base.

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