Press release

DSM reports solid Q3 results despite weak economic conditions

Heerlen, NL, 06 Nov 2012 07:15 CET

  • Q3 EBITDA from continuing operations €270 million (Q3 2011: €339 million)
  • Life Sciences, driven by Nutrition, showed good performance, representing 76% of Q3 EBITDA
  • Materials Sciences continued to perform well, except for caprolactam
  • Further strategic progress with acquisitions
  • Strong Q3 cash flow from operating activities of €253 million
  • Outlook 2012 largely unchanged

Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “Despite a challenging global trading environment DSM continued to generate good results mainly driven by our Nutrition cluster. We continued to make good progress towards our strategic goals with the purchase of Tortuga and Cargill’s cultures and enzymes business. We have now invested €2.3 billion in acquisitions since the end of 2010, of which €1.9 billion in Nutrition. With these acquisitions we are building new platforms and are strengthening our downstream network. This will create significant future value for the company whilst further increasing the resilience of DSM’s earnings profile.”

Our Profit Improvement Program, designed in part to offset the impact of adverse external developments, is on track to deliver significant cost savings. We expect that trading conditions will remain tough. Our strong focus on cost control and cash flow together with our strong balance sheet leaves DSM well placed to navigate near term external challenges.”

Key figures

Q3 2012 Q3 2011 +/- in € million Jan - Sep 2012 Jan - Sep 2011 +/-
      Continuing operations      
2,304 2,322 -1% Net sales 6,862 6,821 1%
270 339 -20% Operating profit before depreciation & amortization (EBITDA) 866 1,003 -14%
202 176   Nutrition 589 542  
4 13   Pharma 26 25  
72 77   Performance Materials 228 250  
16 109   Polymer Intermediates 115 301  
-4 -14   Innovation Center -29 -40  
-20 -22   Corporate Activities -63 -75  
147 231 -36% Operating profit (EBIT) 515 700 -26%
      Discontinued operations      
      Net sales   145  
      Operating profit before depreciation & amortization (EBITDA)   29  
      Operating profit (EBIT)   29  
      Total DSM      
2,304 2,322 -1% Net sales 6,862 6,966 -1%
270 339 -20% Operating profit before depreciation & amortization (EBITDA) 866 1032 -16%
103 159 -35% Net profit before exceptional items 362 497 -27%
-22 12   Net result from exceptional items -95 232  
81 171 -53% Net profit 267 729 -63%
      Net profit per share in €:      
0.61 0.94 -35% before exceptional items, continuing operations 2.15 2.82 -24%
0.47 1.00 -53% including exceptional items, total DSM 1.57 4.33 -64%

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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