Press release

DSM reports profitable Q1 despite difficult economic conditions

Heerlen, NL, 28 Apr 2009 08:15 CEST

  • Q1 operating profit down to €57 million
  • Continuing strong performance from Life Sciences businesses
  • Most Materials Sciences businesses severely impacted by downturn
  • Continued strong cash performance, €166 million cash from operating activities
  • No quantitative outlook provided for 2009 in view of uncertain economic conditions

Commenting on the results, Feike Sijbesma, chairman of the DSM Managing Board, said: “Ongoing strong performances from our Life Sciences businesses and stringent control of costs and working capital allowed DSM as a whole to remain profitable and cash generating throughout the quarter despite the very challenging economic conditions which primarily affected most of Materials Sciences.

Although no improvement in demand in end-markets seems to be imminent, we are not at this point in time seeing a further deterioration either. Nevertheless, there will be tough times ahead. We remain focused on the generation of cash. Actions to reduce costs will continue unabated, and we now expect to over-deliver on our targeted savings of €100 million by 2010.

In the meantime, DSM continues its customer focus as well as its strategic commitment to innovation and sustainability. Despite the challenges we face today, DSM will continue its strategic direction, based on long-term societal trends. Our healthy financial position ensures that we will be able to take advantage of opportunities inevitably arising from this recession.”

Key figures

in € million Q1 2009 Q1 2008 +/-
Continuing operations      
Net sales 1,837 2,358 -22%
Operating profit before depreciation & amortization (EBITDA) 167 338 -51%
Operating profit (EBIT) 57 237 -76%
Nutrition 141 79 78%
Pharma 11 8 38%
Performance Materials -17 80  
Polymer Intermediates -30 40  
Base Chemicals and Materials -12 49  
Other activities -36 -19  
Total DSM:      
Net sales 1,837 2,358 -22%
Operating profit (EBIT) 57 237 -76%
Net profit before exceptional items 25 162 -85%
Net result from exceptional items -12    
Net profit 13 162 -92%
Net earnings per ordinary share in €:      
before exceptional items, continuing operations 0.13 0.95 -84%
including exceptional items, total DSM 0.06 0.95 -94%

You can find the press release in full, including financial statements, below.

For more information

Lieke de Jong-Tops

Senior Communications Manager
+31 45 578 2420
media.contacts@dsm.com

Dave Huizing

Vice President Investor Relations
+31 45 578 2864
investor.relations@dsm.com

Media Relations

+31 45 578 2420

Investor Relations

+31 45 578 2864

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