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DSM reports solid Q3 results despite weak economic conditions

Heerlen, NL, 06 Nov 2012 07:15 CET

  • Q3 EBITDA from continuing operations €270 million (Q3 2011: €339 million)
  • Life Sciences, driven by Nutrition, showed good performance, representing 76% of Q3 EBITDA
  • Materials Sciences continued to perform well, except for caprolactam
  • Further strategic progress with acquisitions
  • Strong Q3 cash flow from operating activities of €253 million
  • Outlook 2012 largely unchanged

Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “Despite a challenging global trading environment DSM continued to generate good results mainly driven by our Nutrition cluster. We continued to make good progress towards our strategic goals with the purchase of Tortuga and Cargill’s cultures and enzymes business. We have now invested €2.3 billion in acquisitions since the end of 2010, of which €1.9 billion in Nutrition. With these acquisitions we are building new platforms and are strengthening our downstream network. This will create significant future value for the company whilst further increasing the resilience of DSM’s earnings profile.”

Our Profit Improvement Program, designed in part to offset the impact of adverse external developments, is on track to deliver significant cost savings. We expect that trading conditions will remain tough. Our strong focus on cost control and cash flow together with our strong balance sheet leaves DSM well placed to navigate near term external challenges.”

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