DSM reports 2014 results
- 2014 sales of €9,181 million
- Organic sales growth 5% in Q4 2014 and 3% for 2014
- Q4 2014 EBITDA €288 million and 2014 EBITDA €1,168 million
- Strong cash from operating activities of €418 million in Q4 2014 (€808 million in 2014)
- Non-cash impairment of €186 million of the caprolactam business (after tax and non-controlling interests) included in exceptional items, leading to a net loss in Q4 2014
- Proposed dividend stable at €1.65 per ordinary share
- DSM will take further actions to improve efficiencies and to reduce costs
- DSM aims to deliver 2015 EBITDA slightly ahead of 2014
Royal DSM, the Life Sciences and Materials Sciences company, today reported its unaudited results for 2014. DSM reported sales of €9,181 million, a 4% increase versus 2013. In line with market expectations, DSM reported EBITDA of €1,168 million compared to €1,261 million in 2013. The fourth quarter 2014 EBITDA was €288 million compared to €297 million in Q4 2013.
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: "DSM generated 3% organic growth and delivered a relatively solid EBITDA with good cash flow from operating activities, amongst others due to improved operating working capital management. This was achieved despite the fact that 2014 was not an easy year for DSM with substantial negative exchange rate effects and tough market conditions in Nutrition and caprolactam.
DSM is already taking steps to address the challenging external environment. We will continue to focus on operational performance and this will be complemented by accelerated actions to improve efficiencies and reduce costs, specifically in Nutrition and across all functions in the company. For 2015, DSM aims to deliver an EBITDA slightly ahead of the result of 2014.”