Heerlen, NL, 04 Aug 2009 08:15 CEST
Commenting on the results, Feike Sijbesma, chairman of the DSM Managing Board, said: "Early and aggressive action to reduce costs, a focus on cash, stringent management of working capital and the ongoing resilience of our Life Sciences businesses, have all ensured that DSM is in good shape at the end of the first half of 2009.
"Although there is little sign of improving demand across many end-markets, Q2 earnings were up sharply compared with the first quarter driven by Materials Sciences as inventory write-downs and customer de-stocking have largely run their course.
"DSM is staying the course, even in these challenging times. This is illustrated by the announcement of the disposal of two non-core businesses in July, our ongoing strategic commitment to our customers, innovation and sustainability and our focus on China, where we are reaping the benefits of a favorable market. Our strong balance sheet and robust cash flow leave us well placed to take advantage of future opportunities that will arise."
|Q2 2009||Q2 2008||+/-||in € million||H1 2009||H1 2008||+/-|
|167||346||-52%||Operating profit before depreciation & amortization (EBITDA)||305||650||-53%|
|58||242||-76%||Operating profit (EBIT)||90||448||-80%|
|-36||43||Base Chemicals and Materials||-62||73|
|25||37||-32%||Operating profit before depreciation & amortization (EBITDA)||54||71||-24%|
|21||34||-38%||Operating profit (EBIT)||46||65||-29%|
|79||276||-71%||Operating profit (EBIT)||136||513||-73%|
|30||192||-84%||Net profit before exceptional items||55||354||-84%|
|-20||Net result from exceptional items||-32|
|Net earnings per ordinary share in €:|
|0.09||1.00||-91%||before exceptional items, continuing operations||0.11||1.81||-94%|
|0.05||1.15||-96%||including exceptional items, total DSM||0.12||2.10||-94%|
You can find the press release in full, including financial statements, below.