DSM reports Q3 2014 results
- Q3 2014 EBITDA from continuing operations €315 million
- Q3 2014 organic sales growth 5% compared to Q3 2013
- Nutrition delivered sequential improvement with Q3 EBITDA €225 million
- Performance Materials Q3 EBITDA €91 million, up compared to Q2 2014 and Q3 2013
- Q3 cash flow from operating activities €301 million
- Full year 2014 outlook in line with current market expectations
Royal DSM, the Life Sciences and Materials Sciences company, today reported third quarter 2014 EBITDA from continuing operations of €315 million compared to €293 million in Q2 2014 and €331 million in Q3 2013.
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “In the third quarter DSM delivered improved financial results compared to the previous quarters with good cash flow generation.
In Nutrition our resilient business model and strong position in the value chain have enabled us to deliver an increase in result compared to the previous three quarters, although challenges in some human nutrition end-markets remain and pricing pressure, particularly in vitamin E, intensified in the latter part of the third quarter.
In Performance Materials, our continued focus on efficiencies and ongoing cost control served us well, and we are pleased by the overall performance with all businesses contributing to increased EBITDA.
Increasing macro-economic uncertainty and continued low consumer confidence are impacting market dynamics. Some currency rates have developed favorably towards the end of the third quarter but currencies remain volatile.
We remain committed to our strategy for growth across our Nutrition and Performance Materials businesses and will continue to pursue strategic actions for Polymer Intermediates and Composite Resins. We are strongly focused on operational excellence and delivering efficiencies to protect and enhance our profitability and cash flow. For the remainder of the year, we anticipate performance in line with current market expectations.”