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 2011Q2 2010+/-in € millionH1 2011H1 2010+/-
   Continuing operations   
2,2652,1207%Net sales4,4994,05311%
339333*2%**Operating profit before depreciation & amortization (EBITDA)664617*8%**
193188 Nutrition366354 
1214 Pharma1228 
8284 Performance Materials173155 
9360 Polymer Intermediates192110 
-13-13 Innovation Center-26-26 
-280* Corporate activities-53-4* 
238231*3%Operating profit (EBIT)469413*14%
   Discontinued operations:   
34286 Net sales145583 
628 Operating profit before depreciation & amortization (EBITDA)2979 
621 Operating profit (EBIT)2957 
   Total DSM:   
2,2992,406-4%Net sales4,6444,6360%
345361-4%Operating profit before depreciation & amortization (EBITDA)6936960%
1661585%Net profit before exceptional items33830212%
226-9 Net result from exceptional items220-23 
392149163%Net profit558279100%
   Net earnings per ordinary share in €:   
0.970.8810%before exceptional items, continuing operations1.881.5819%
2.350.90161%including exceptional items, total DSM3.331.6898%

* 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

Dave Huizing

Vice President Investor Relations
+31 45 578 2864

Media Relations

+31 45 578 2420

Investor Relations

+31 45 578 2864