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 2,239      
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 1.06      
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 H1 2020 Year-end 2019
Intangible Assets 4,197 3,515
Property, Plant & Equipment 4,035 4,040
Deferred Tax Assets 231 217
Share in Associates & Joint Ventures 83 155
Financial derivatives 53 27
Other Financial Assets 338 265
Non-Current Assets 8,937 8,219
Inventories 2,177 2,019
Trade Receivables 1,643 1,592
Income tax receivables 54 61
Other Current Receivables 44 45
Financial Derivatives 17 19
Current Investments 655 688
Cash & Cash Equivalents 1,300 800
Current Assets 5,890 5,224
Total Assets 14,827 13,443
Shareholders' Equity 7,279 7,731
Non-controlling interest 101 104
Equity 7,380 7,835
Deferred Tax Liabilities 360 296
Employee Benefits Liabilities 455 413
Provisions 120 120
Borrowings 3,492 2,464
Financial derivatives 7 7
Other Non-current Liabilities 166 145
Non-current liabilities 4,600 3,445
Employee Benefits 43 43
Provisions 71 48
Borrowings 605 189
Financial Derivatives 23 18
Trade Payables 1,474 1,345
Income tax payable 66 42
Other Current Liabilities 565 478
Current Liabilities 2,847 2,163
Total Equity and Liabilities 14,827 13,443
Net debt 2,102 1,144
Equity/Total Assets  50% 58%

Income statement

Condensed consolidated statement of income H1 2020

In € million H1 2020 H1 2019
Sales 4,532 4,568
EBITDA 746 823
Operating profit (EBIT) 435 518
Financial income and expense -31 -57
Profit before income tax expense 404 461
Income tax expense -67 -80
Share of the profit of associates /joint control entities -67 20
Net profit 270 401
Of which:    
Profit attributable to non-controlling interests -2 -2
Net profit attributable to equity holders of DSM  268 399
Dividend on cumulative preference shares -4 -4
Net profit available to holders of ordinary shares 264 395
Depreciation and amortization 311 305

Reconciliation to Alternative Performance Measures H1 2020

In € million H1 2020 H1 2019
EBITDA 746 823
Acquisitions/divestments  17 4
Restructuring  62 35
Other 0 0
Sub-total APM adjustments to EBITDA 79 39
Adjusted EBITDA 825 862
Operating profit (EBIT) 435 518
APM adjustments to EBITDA 79 39
Impairments of PPE and Intangible assets 0 11
Sub-total APM adjustments to operating profit (EBIT) 79 50
Adjusted operating profit (EBIT) 514 568
Net profit 270 401
APM adjustments to operating profit (EBIT) 79 50
APM adjustments to financial income and expense 0 0
Income tax related to APM adjustments -19 -12
APM adjustments to share of the profit of associates /joint control entities 69 -24
Sub-total APM adjustments to net profit  129 14
Adjusted net profit 399 415
     
Net profit available to holders of ordinary shares 264 395
APM adjustments to net profit 129 14
Adjusted net profit available to holders of ordinary shares 393 409

Cash flow statement

Assets in € million H1 2020 H1 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 746 823
Change in Working  Capital -186 -239
Income Tax -51 -51
Other 75 -26
Cash provided by Operating Activities (Operating cash flow) 584 507
Investing Activities    
Capital Expenditures -274 -269
Payments regarding drawing rights -10 -4
Acquisitions -729 -207
Disposal of Subsidiaries, Businesses & Associates 1 2
Disposal of Other Non-current Assets 1 3
Change in Fixed-term Deposits 34 128
Interest Received 4 5
Dividend and capital (re)payments  -9 -12
Other -6 23
Cash used in Investing Activities -988 -331
Financing Activities    
Dividend -163 -158
Interest Paid  -26 -31
Repurchase of shares -283 -249
Proceeds from re-issued treasury shares 33 136
Change in Commercial Paper 459  
Proceeds from/ repayments of corporate bonds 991  
Payment of lease liabilities -27 -26
Other Cash from /used in Financing Activities -64 11
Cash from /used in Financing Activities 920 -317
Exchange Differences -16 -3
Cash and Cash Equivalents (end of period) 1,300 1,137
Current Investment (end of period)  655 1,149
Cash and Cash Equivalents & Current Investments (end of period) 1,955 2,286

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

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