Financial figures

Overview of DSM's latest financial key figures

Overview as at publication Q1 2020 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 Q1 2020.

Net sales (continuing operations) in € million

Year Q1 Q2 Q3 Q4 Total
2020 2,293        
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
2020 1.24        
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 Q1 2020 Year-end 2019
Intangible Assets 3,487 3,515
Property, Plant & Equipment 4,012 4,040
Deferred Tax Assets 225 217
Share in Associates & Joint Ventures 153 155
Financial derivatives 42 27
Other Financial Assets 256 265
Non-Current Assets 8,175 8,219
Inventories 2,137 2,019
Trade Receivables 1,790 1,592
Income tax receivables 54 61
Other Current Receivables 46 45
Financial Derivatives 21 19
Current Investments 195 688
Cash & Cash Equivalents 1,396 800
Current Assets 5,639 5,224
Total Assets 13,814 13,443
Shareholders' Equity 7,560 7,731
Non-controlling interest 103 104
Equity 7,663 7,835
Deferred Tax Liabilities 283 296
Employee Benefits Liabilities 413 413
Provisions 120 120
Borrowings 2,470 2,464
Financial derivatives 13 7
Other Non-current Liabilities 154 145
Non-current liabilities 3,453 3,445
Employee Benefits 44 43
Provisions 83 48
Borrowings 450 189
Financial Derivatives 45 18
Trade Payables 1,554 1,345
Income tax payable 43 42
Other Current Liabilities 479 478
Current Liabilities 2,698 2,163
Total Equity and Liabilities 13,814 13,443

Income statement

Condensed consolidated statement of income Q1 2020

In € million Q1 2020 Q1 2019
Sales 2,293 2,292
EBITDA 358 416
Operating profit (EBIT) 207 271
Financial income and expense -13 -29
Profit before income tax expense 194 242
Income tax expense -30 -44
Share of the profit of associates /joint control entities 4 -2
Net profit 168 196
Of which:    
Profit attributable to non-controlling interests -1 -1
Net profit attributable to equity holders of DSM 167 195
Dividend on cumulative preference shares -2 -2
Net profit available to holders of ordinary shares 165 193
Depreciation and amortization 151 145

Reconciliation to Alternative Performance Measures Q1 2020

In € million Q1 2020 Q1 2019
EBITDA 358 416
Acquisitions/divestments  9 3
Restructuring  56 5
Other 0 0
Sub-total APM adjustments to EBITDA 65 8
Adjusted EBITDA 423 424
Operating profit (EBIT) 207 271
APM adjustments to EBITDA 65 8
Impairments of PPE and Intangible assets 0 0
Sub-total APM adjustments to operating profit (EBIT) 65 8
Adjusted operating profit (EBIT) 272 279
Net profit 168 196
APM adjustments to operating profit (EBIT) 65 8
APM adjustments to financial income and expense 0 0
Income tax related to APM adjustments -16 -1
APM adjustments to share of the profit of associates /joint control entities -1 -3
Sub-total APM adjustments to net profit  48 4
Adjusted net profit 216 200
     
Net profit available to holders of ordinary shares 165 193
APM adjustments to net profit 48 4
Adjusted net profit available to holders of ordinary shares 213 197

Cash flow statement

Assets in € million Q1 2020 Q1 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 358 416
Change in Working  Capital -100 -165
Income Tax -30 -24
Other 59 -26
Cash provided by Operating Activities (Operating cash flow) 287 201
Investing Activities    
Capital Expenditures -152 -150
Payments regarding drawing rights -4 -2
Acquisitions -4 -157
Disposal of Subsidiaries, Businesses & Associates 1 2
Disposal of Other Non-current Assets   3
Change in Fixed-term Deposits 493 -153
Interest Received 1 1
Dividend and capital (re)payments  -6 -17
Other -3 -1
Cash used in Investing Activities 326 -474
Interest Paid  -4 -5
Repurchase of shares -283 0
Proceeds from re-issued treasury shares 16 55
Change in Commercial Paper 180  
Payment of lease liabilities -14 -12
Other Cash from/ used in Financing Activities 93 -2
Cash from / used in Financing Activities -12 36
Exchange Differences -5 -1
Cash and Cash Equivalents (end of period) 1,396 1,043
Current Investment (end of period)  195 1,430
Cash and Cash Equivalents & Current Investments (end of period) 1,591 2,473

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

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