Press release

DSM delivers strong result improvement in Q3 2009

Heerlen, NL, 03 Nov 2009 07:15 CET

  • Q3 operating profit from continuing operations €139 million, more than double Q2 2009 (€58 million)
  • Strong Life Sciences performance due to robust Nutrition business
  • Materials Sciences continued strong recovery
  • Cost savings and efficiency improvements on track to achieve €150 – 200 million on yearly basis by 2010
  • Cash flow from operating activities again very strong (Q3 €517 million)
  • Outlook for the rest of the year remains uncertain; Q4 operating profit currently expected to be lower than Q3, but above Q4 last year

Commenting on the results, Feike Sijbesma, chairman of the DSM Managing Board, said: “DSM delivered strongly improved results for Q3 2009, with ongoing resilience in Nutrition and a further improvement in Materials Sciences compared to the previous quarters. Our early action to reduce costs, our focus on cash and our commitment to innovation and China are paying off.

We are alert that the economic climate remains uncertain and that the path of recovery is likely to prove uneven. However, it seems that the first half of 2009 represented the low point for this recession and we are showing that we are well placed to capitalize as markets improve, which is also reflected in a strong sales volume development.

Throughout these challenging times, DSM is staying the course. We completed the disposal of two non-core businesses and remain committed to exiting the remaining non-core operations. Our strategic commitment to create a Life Sciences and Materials Sciences company addressing important global trends via a focus on customers, innovation and sustainability is undiminished. Our robust financial strength allows us to capture market opportunities as they arise.”

Key figures

Q3 2009 Q3 2008 +/- in € million Jan - Sep 2009 Jan - Sep 2008 +/-
      Continuing operations:      
2,020 2,336 -14% Net sales 5,727 7,045 -19%
257 361 -29% Operating profit before depreciation & amortization (EBITDA) 562 1,011 -44%
139 237 -41% Operating profit (EBIT) 229 685 -67%
119 104 14% Nutrition 384 292 32%
2 22 -91% Pharma 16 59 -73%
45 62 -27% Performance Materials 45 212 -79%
21 19 11% Polymer Intermediates -5 85  
2 85 -98% Base Chemicals and Materials -60 158  
-50 -55   Other activities -151 -121  
      Discontinued operations:      
39 56 -30% Net sales 123 161 -24%
26 34 -24% Operating profit before depreciation & amortization (EBITDA) 80 105 -24%
26 30 -13% Operating profit (EBIT) 72 95 -24%
      Total DSM:      
2,059 2,392 -14% Net sales 5,850 7,206 -19%
165 267 -38% Operating profit (EBIT) 301 780 -61%
100 181 -45% Net profit before exceptional items 155 535 -71%
274     Net result from exceptional items 242    
374 181 107% Net profit 397 535 -26%
      Net earnings per ordinary share in €:      
0.51 0.97 -47% before exceptional items, continuing operations 0.62 2.78 -78%
2.29 1.10 108% including exceptional items, total DSM 2.40 3.20 -25%

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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