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 2011 Q3 2010 +/- in € million Jan - Sep 2011 Jan - Sep 2010 +/-
      Continuing operations:      
2,322 2,041 14% Net sales 6821 6094 12%
339 268* 26%** Operating profit before depreciation & amortization (EBITDA) 1003 885* 13%**
176 167   Nutrition 542 521  
13 7   Pharma 25 35  
77 72   Performance Materials 250 227  
109 46   Polymer Intermediates 301 156  
-14 -10   Innovation Center -40 -36  
-22 -14   Corporate activities -75 -18*  
231 169* 37% Operating profit (EBIT) 700 582* 20%
      Discontinued operations:      
  171   Net sales 145 754  
  24   Operating profit before depreciation & amortization (EBITDA) 29 103  
  19   Operating profit (EBIT) 29 76  
      Total DSM:      
2,322 2,212 5% Net sales 6966 6848 2%
339 292 16% Operating profit before depreciation & amortization (EBITDA) 1032 988 4%
159 128 24% Net profit before exceptional items 497 430 16%
12 -49   Net result from exceptional items 232 -72  
171 79 116% Net profit 729 358 104%
      Net earnings per ordinary share in €:      
0.94 0.68 38% before exceptional items, continuing operations 2.82 2.26 25%
1.00 0.46 117% including exceptional items, total DSM 4.33 2.14 102%

* 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
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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