Press release

DSM reports strong Q3 results

Heerlen, NL, 01 Nov 2011 07:15 CET

  • Q3 EBITDA from continuing operations €339 million, 26% ahead of Q3 2010
  • Organic sales growth 14%
  • Robust performance in Life Sciences despite significant impact of Swiss franc
  • Very good Materials Sciences results driven by Polymer Intermediates
  • Martek continued its excellent performance; integration completed
  • DSM Sinochem Pharmaceuticals joint venture established
  • EPS (before exceptional items, continuing operations) up 38% to €0.94
  • Outlook confirmed: 2011 expected to be a strong year

Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “We are pleased to have delivered continued profitable growth compared to last year across all business clusters. This performance has been achieved despite the significant impact of a very strong Swiss franc and a weak US dollar.

Our outlook remains unchanged: 2011 is expected to be a strong year with further progress towards achieving our 2013 targets. However, DSM remains vigilant to possible negative developments in the global economy. Through Q3 we have experienced weakening in the electronics and electrical markets and in the depressed building and construction markets. DSM would not be immune to a deterioration in the economic environment, however, we have transformed DSM into a much more balanced and stronger company with a relatively resilient portfolio in health, nutrition and materials, a broad geographic spread with a strong presence in high growth economies and a solid balance sheet.”

Key figures

Q3 2011Q3 2010+/-in € millionJan - Sep 2011Jan - Sep 2010+/-
   Continuing operations:   
2,3222,04114%Net sales6821609412%
339268*26%**Operating profit before depreciation & amortization (EBITDA)1003885*13%**
176167 Nutrition542521 
137 Pharma2535 
7772 Performance Materials250227 
10946 Polymer Intermediates301156 
-14-10 Innovation Center-40-36 
-22-14 Corporate activities-75-18* 
231169*37%Operating profit (EBIT)700582*20%
   Discontinued operations:   
 171 Net sales145754 
 24 Operating profit before depreciation & amortization (EBITDA)29103 
 19 Operating profit (EBIT)2976 
   Total DSM:   
2,3222,2125%Net sales696668482%
33929216%Operating profit before depreciation & amortization (EBITDA)10329884%
15912824%Net profit before exceptional items49743016%
12-49 Net result from exceptional items232-72 
17179116%Net profit729358104%
   Net earnings per ordinary share in €:   
0.940.6838%before exceptional items, continuing operations2.822.2625%
1.000.46117%including exceptional items, total DSM4.332.14102%

* of which €7 million (January - September €24 million) IFRS pension adjustment
** 30% (January - September 16%) 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