Financial figures

Overview of DSM's latest financial key figures

Overview first nine months 2020 results

Presented below are DSM's net sales from continuing operations, balance sheet, income statement and cash flow statement, as published on 03 November 2020.

Net sales (continuing operations) in € million

Year Q1 Q2 Q3 Q4 Total
2020 2,045* 2,020* 1,961*    
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 all of DSM’s Resins & Functional Materials businesses, including DSM Niaga®, DSM Additive Manufacturing and the coatings activities of DSM Advanced Solar, to discontinued operations.

Balance sheet

Assets in € million 30 Sep 2020 Year-end 2019
Intangible Assets 3,686 3,515
Property, Plant & Equipment 3,647 4,040
Deferred Tax Assets 226 217
Share in Associates & Joint Ventures 89 155
Financial derivatives 56 27
Other Financial Assets 263 265
Non-Current Assets 7,967 8,219
Inventories 1,953 2,019
Trade Receivables 1,393 1,592
Income tax receivables 66 61
Other Current Receivables 46 45
Financial Derivatives 23 19
Current Investments 40 688
Cash & Cash Equivalents 1,686 800
Sub-total 5,207 5,224
Assets Held for Sale 1,098  
Current Assets 6,305 5,224
Total Assets 14,272 13,443
Shareholders' Equity 7,323 7,731
Non-controlling interest 91 104
Equity 7,414 7,835
Deferred Tax Liabilities 351 296
Employee Benefits Liabilities 433 413
Provisions 116 120
Borrowings 3,449 2,464
Financial derivatives 5 7
Other Non-current Liabilities 158 145
Non-current liabilities 4,512 3,445
Employee Benefits 42 43
Provisions 81 48
Borrowings 316 189
Financial Derivatives 17 18
Trade Payables 1,178 1,345
Income tax payable 83 42
Other Current Liabilities 402 478
Sub-total 2,119 2,163
Liabilities Held for Sale 227 0
Current Liabilities 2,346 2,163
Total Equity and Liabilities 14,272 13,443
Net debt 1,982 1,144
Equity/Total Assets  52% 58%

Income statement

Condensed consolidated statements of income first nine months 2020

In € million Jan - Sep 2020 Jan - Sep 2019
Sales - continuing operations 6,026 6,064
EBITDA 1,020 1,133
Operating profit (EBIT) 586 711
Financial income and expense -52 -81
Profit before income tax expense 534 630
Income tax expense -89 -116
Share of the profit of associates/ joint control entities -38 59
Net profit 407 573
Of which:    
Profit attributable to non-controlling interests 0 -3
Net profit attributable to equity holders of DSM  407 570
Dividend on cumulative preference shares -6 -6
Net profit available to holders of ordinary shares 401 564
In € million Jan - Sep 2020 Jan - Sep 2019
Net profit - discontinued operations 46 67
Of which:    
Profit attributable to non-controlling interests -3 -2
Net profit attributable to equity holders of DSM  43 65
In € million Jan - Sep 2020 Jan - Sep 2019
Net profit - total 453 640
Of which:    
Profit attributable to non-controlling interests -3 -5
Net profit attributable to equity holders of DSM  450 635
Dividend on cumulative preference shares -6 -6
Net profit available to holders of ordinary shares 444 629
Depreciation and amortization - continuing operations  434 422

Reconciliation to Alternative Performance Measures first nine months 2020

In € million Jan - Sep 2020 Jan - Sep 2019
EBITDA 1,020 1,133
Acquisitions/divestments  27 8
Restructuring  97 37
Other 0 0
Sub-total APM adjustments to EBITDA 124 45
Adjusted EBITDA 1,144 1,178
Operating profit (EBIT) 586 711
APM adjustments to EBITDA 124 45
Impairments of PPE and Intangible assets 0 11
Sub-total APM adjustments to operating profit (EBIT) 124 56
Adjusted operating profit (EBIT) 710 767
Net profit 407 573
APM adjustments to operating profit (EBIT) 124 56
APM adjustments to financial income and expense 0 0
Income tax related to APM adjustments -30 -14
APM adjustments to share of the profit of associates /joint control entities 43 -26
Sub-total APM adjustments to net profit  137 16
Adjusted net profit 544 589
Net profit available to holders of ordinary shares 401 564
APM adjustments to net profit 137 16
Adjusted net profit available to holders of ordinary shares 538 580

Cash flow statement

Assets in € million Jan - Sep 2020 Jan - Sep 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 1116 1,239
Change in Working  Capital -152 -207
Income Tax -68 -67
Other 94 -24
Cash provided by Operating Activities (Operating cash flow) 990 941
of which provided by continuing operations 906 865
Investing Activities    
Capital Expenditures -398 -420
Payments regarding drawing rights -14 -8
Acquisitions -749 -411
Disposal of Subsidiaries, Businesses & Associates -1 16
Disposal of Other Non-current Assets 47 4
Change in Fixed-term Deposits 649 424
Interest Received 5 7
Dividend and capital (re)payments  -18 12
Other -7 12
Cash used in Investing Activities -486 -364
Financing Activities    
Dividend -289 -277
Interest Paid  -44 -52
Repurchase of shares -309 -448
Proceeds from re-issued treasury shares 48 164
Change in Commercial Paper 224  
Proceeds from / repayments of corporate bonds 991 -300
Payment of lease liabilities -40 -40
Other Cash from/ used in Financing Activities -178 12
Cash from / used in Financing Activities 403 -941
Exchange Differences -21 9
Cash and Cash Equivalents (end of period) 1,686 926
Current Investment (end of period)  40 853
Cash and Cash Equivalents & Current Investments (end of period) 1,726 1,779

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