Press release

DSM ends 2009 with solid Q4 and very strong cash generation

Heerlen, NL, 24 Feb 2010 08:15 CET

  • Q4 operating profit from continuing operations €141 million in line with Q3 2009.
  • Life Sciences performance reflects robust Nutrition business.
  • Materials Sciences recovery remains on track.
  • Full year operating profit from continuing operations €370 million.
  • Full year cash flow from operating activities very strong at €1,276 million.
  • Solid financial position − dividend maintained at €1.20 in cash.
  • No quantitative outlook provided for 2010.

Commenting on the results, Feike Sijbesma, Chairman of the DSM Managing Board, said: “In what was undoubtedly one of the most challenging years in DSM’s history, we stayed the course and remained fully committed to our customers, innovation and sustainability. After a difficult first half year, we delivered improved results in the second half of the year as our Materials Sciences businesses started to recover.

Although our full-year operating profit from continuing operations halved compared to our record performance of 2008, the decline in DSM’s core activities was limited to 26%. A continued robust performance from the Nutrition business and the benefits of our early actions to improve our competitive position contributed to this performance. Our initiatives to reduce costs delivered over €150 million in savings during the year, whilst our focus on cash resulted in an unprecedented operating cash flow of almost €1.3 billion in 2009. Our strong financial position leaves us well placed to capitalize on any opportunity that might arise.

As we have entered an uncertain 2010, DSM will continue its strategic transformation into a Life Sciences and Materials Sciences company. We completed the disposal of two businesses during the year and remain committed to exiting the remaining non-core operations. Whilst recognizing the uneven nature of the current economic recovery, we are cautiously optimistic.”

Key figures

Q4 2009 Q4 2008 +/- in € million FY 2009 FY 2008 +/-
      Continuing operations:      
2,005 2,034 -1% Net sales 7,732 9,709 -15%
274 198 38% Operating profit before depreciation & amortization (EBITDA) 836 1,209 -31%
141 84 68% Operating profit (EBIT) 370 769 -52%
137 155 -12% Nutrition 521 447 17%
16 30 -47% Pharma 32 89 -64%
23 -37   Performance Materials 68 175 -61%
11 -66   Polymer Intermediates 6 19 -68%
-8 16   Base Chemicals and Materials -68 174  
-38 -14   Other activities -189 -135  
      Discontinued operations:       
11 57   Net sales 134 218  
1 43   Operating profit before depreciation & amortization (EBITDA) 81 148  
1 39   Operating profit (EBIT) 73 134  
      Total DSM:      
2,016 2,091 -4% Net sales 7,866 9,297 -15%
142 123 15% Operating profit (EBIT) 443 903 -51%
89 73 22% Net profit before exceptional items 244 608 -60%
-149 -31   Net result from exceptional items 93 -31  
-60 42   Net profit 337 577 -42%
      Net earnings per ordinary share in €:      
0.53 0.25 112% before exceptional items, continuing operations 1.15 3.04 -62%
-0.39 0.24   including exceptional items, total DSM 2.01 3.45 -42%

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

This site uses cookies to store information on your computer.

Learn more