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DSM reports Q3 2015 results

Heerlen, NL, 03 Nov 2015 07:15 CET

  • Sales up 8%, driven by 7% organic growth in Nutrition and foreign exchange
  • Solid volume growth in Human Nutrition; very strong volume growth in Animal Nutrition
  • Nutrition EBITDA: negative impact of vitamin E and Swiss franc largely offset
  • Performance Materials EBITDA: improved on lower input costs and cost savings despite soft sales
  • Strong operating cash flow of €300 million
  • 2015 outlook maintained
Q3 2015 Q3 2014 yoy in €m volume price/
mix
exch. rates other
      Group        
1,945 1,794 8% Sales 2% -1% 6% 1%
287 281 2% EBITDA        
      Nutrition        
1,253 1,091 15% Sales 6% 1% 6% 2%
213 225 -5% EBITDA        
      Performance Materials        
631 638 -1% Sales -3% -5% 7% 0%
102 87 17% EBITDA        

Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “DSM continued to make good progress in Q3 in both EBITDA and cash generation. These results demonstrate the benefits of our focus on improving our operational performance. We are starting to implement the previously announced €125-150 million cost reduction program for the DSM-wide support functions. Tomorrow at our Capital Markets Day, we will announce our strategy and targets for the coming years, as well as an additional efficiency and cost reduction program in Nutrition.

It is increasingly difficult to predict macro-economic developments. Assuming no major changes in current market conditions for the remainder of this year, we maintain our full year outlook to deliver an EBITDA in 2015 ahead of 2014, the increase mainly driven by positive foreign exchange effects.”

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