Heerlen, NL, 02 May 2013 07:15 CEST
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."
|in € million||Q1 2013||Q1 2012||+/-||volume||price/mix||exch. rates||other|
|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
|Net EPS after exceptional items
|Cash flow from operations||-78||97|
|Capital expenditures (cash)||164||126|
* Year-end 2012
You can find the press release in full, including financial statements, below.