Press release

DSM reports strong Q2 results with solid growth

Heerlen, NL, 02 Aug 2011 07:15 CEST

  • Q2 EBITDA from continuing operations €339 million, above both Q2 2010 and Q1 2011
  • Strong Life Sciences results driven by robust growth in Nutrition
  • Very solid results in Materials Sciences due to pricing strength and volume growth
  • Martek integration on track; excellent Q2 EBITDA performance
  • EPS more than doubled, reflecting strong operating results, lower tax rate and one-off gains
  • Interim dividend of €0.45 (+12.5%) representing one third of total dividend for 2010
  • 2011 is expected to be a strong year; good progress towards achieving the 2013 targets

Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “This has been another strong quarter for DSM with continued progress compared to the first quarter and the same period last year reflecting the strength of our businesses. These results include a positive contribution from Martek but also the negative impact of currency effects and higher raw material and energy costs.

Whilst general economic forecasts for the year continue to be positive, there are increased uncertainties related to the global economy. However, we believe we are well positioned with our balanced, relatively resilient portfolio in health, nutrition and materials, and with our broad geographic footprint, strong technology and leading market positions. This, in combination with our focus on customers and innovation and our ongoing efficiency improvements, gives us confidence that 2011 will be a strong year for DSM with good progress towards achieving the 2013 targets.”

Key figures

Q2 2011 Q2 2010 +/- in € million H1 2011 H1 2010 +/-
      Continuing operations      
2,265 2,120 7% Net sales 4,499 4,053 11%
339 333* 2%** Operating profit before depreciation & amortization (EBITDA) 664 617* 8%**
193 188   Nutrition 366 354  
12 14   Pharma 12 28  
82 84   Performance Materials 173 155  
93 60   Polymer Intermediates 192 110  
-13 -13   Innovation Center -26 -26  
-28 0*   Corporate activities -53 -4*  
238 231* 3% Operating profit (EBIT) 469 413* 14%
      Discontinued operations:      
34 286   Net sales 145 583  
6 28   Operating profit before depreciation & amortization (EBITDA) 29 79  
6 21   Operating profit (EBIT) 29 57  
      Total DSM:      
2,299 2,406 -4% Net sales 4,644 4,636 0%
345 361 -4% Operating profit before depreciation & amortization (EBITDA) 693 696 0%
166 158 5% Net profit before exceptional items 338 302 12%
226 -9   Net result from exceptional items 220 -23  
392 149 163% Net profit 558 279 100%
      Net earnings per ordinary share in €:      
0.97 0.88 10% before exceptional items, continuing operations 1.88 1.58 19%
2.35 0.90 161% including exceptional items, total DSM 3.33 1.68 98%

* of which €9 million (first half €17 million) IFRS pension adjustment
** 5% (first half 11%) if IFRS pension adjustment is excluded

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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