Press release

DSM reports good start to the year in challenging environment

Heerlen, NL, 02 May 2013 07:15 CEST

  • DSM records higher Q1 EBITDA of €311 million (Q1 2012: €306 million)
  • Healthy profitability in Life Sciences with Nutrition proving resilience 
  • Materials Sciences delivered a solid performance 
  • Integration of acquisitions and realization of synergies on track 
  • Good progress with implementation of Profit Improvement Program
  • Outlook 2013 unchanged, moving towards EBITDA of €1.4 billion

Royal DSM, the Life Sciences and Materials Sciences company, today reported a first quarter EBITDA of €311 million compared to €306 million in Q1 2012 and €243 million in Q4 2012. The improvement compared to Q1 2012 was realized despite a negative caprolactam effect of €65 million. This was achieved in a context of uncertain global macro-economic conditions as the European economy remained weak, Asia continued to show good levels of growth whilst the US maintained its modest rate of recovery. Life Sciences delivered growth once again, driven by Nutrition, while Materials Sciences performed well, except for caprolactam. During the quarter DSM benefited from the sale of certain DSM Resins & Functional Materials related distribution activities. 

Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: "In a challenging economic environment, I’m pleased to report a good start to the year with a robust performance. Nutrition, which accounts for about 70% of group EBITDA, has proved the resilience and quality of its broad offering across the value chain, delivering another quarterly improvement in profitability, together with healthy margins.”  

Where the last two years were characterized by acquisitions, in 2013 we will fully focus on the operational performance and the integration of acquisitions, with special attention to capturing synergies whilst also ensuring the successful execution of our group-wide profit improvement initiatives. We expect strong EBITDA growth in 2013, moving towards €1.4 billion."

Key figures

in € million Q1 2013 Q1 2012 +/- volume price/mix exch. rates other
Net sales 2,376 2,290 4% 3% -3% -1% 5%
Nutrition 988 900 10% 3% -3% -1% 11%
Pharma 178 175 2% 1% 2% -1%  
Performance Materials 673 701 -4% -2% -1% -1% 0%
Polymer Intermediates 437 430 2% 9% -7% 0%  
Innovation Center 38 16          
Corporate Activities 62 68          
in €
million
Q1
2013
Q1
2012
+/-
EBITDA 311 306 2%
Nutrition 215 192 12%
Pharma 8 5 60%
Performance Materials 80 79 1%
Polymer Intermediates 29 69 -58%
Innovation Center -4 -15  
Corporate Activities -17 -24  
Core net profit 129 149 -13%
Net profit before exceptional items 121 145 -17%
Net profit after exceptional items 119 145 -18%
Core EPS (€/share) 0.76 0.91 -16%
Net EPS before exceptional items
(€/share)
0.70 0.87 -20%
Net EPS after exceptional items
(€/share)
0.69 0.87 -21%
Cash flow from operations -78 97  
Capital expenditures (cash) 164 126  
Net debt 1,932 1,668*  

* Year-end 2012

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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