Heerlen, NL, 29 Feb 2012 07:15 CET
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “2011 was another strong year for DSM despite the challenges of the global economy, adverse currency movements and high raw material costs. As a consequence we propose to increase our dividend for the second consecutive year. In Nutrition we made good progress once again and Polymer Intermediates delivered its highest profitability in history.
“Furthermore, we made significant steps in the first year of implementing our growth strategy. This included the acquisition of Martek, the formation of the joint venture with Sinochem, the completion of non-core divestments, progress in sustainability-related innovations and expansion into high growth economies, which now account for 39% of sales. At the start of 2012 we announced an exciting joint venture with POET, to make advanced biofuels a reality on a commercial scale.
“We are conscious that risks to the macro-economic global outlook remain, and that weakness in Europe and some of our end markets, especially building and construction, persists. However, we believe that our balanced, relatively resilient portfolio in health, nutrition and materials, our broad geographic spread with a significant presence in high growth economies, together with our strong balance sheet, leave us well placed to achieve our ambitious 2013 targets.”
|Q4 2011||Q4 2010||+/-||in € million||FY 2011||FY 2010||+/-|
|293||276*||6%**||Operating profit before depreciation & amortization (EBITDA)||1,296||1,161*||12%**|
|166||170*||-2%||Operating profit (EBIT)||866||752*||15%|
|14||Operating profit before depreciation & amortization (EBITDA)||29||117|
|10||Operating profit (EBIT)||29||86|
|293||290||1%||Operating profit before depreciation & amortization (EBITDA)||1,325||1,278||4%|
|118||117||1%||Net profit before exceptional items||615||547||12%|
|-33||32||Net result from exceptional items||199||-40|
|Net earnings per ordinary share in €:|
|0.71||0.63||13%||before exceptional items, continuing operations||3.53||2.89||22%|
|0.53||0.89||-40%||including exceptional items, total DSM||4.86||3.03||60%|
* of which €9 million (full year €33 million) IFRS pension adjustment
** 10% (full year 15%) if IFRS pension adjustment is excluded
You can find the press release in full, including financial statements, below.