Press release

DSM reports Q1 2017 results

Heerlen, NL, 02 May 2017 07:00 CEST


  • DSM reports a very strong first quarter
  • Sales up 13% to €2,159m, with 9% organic growth
  • Adjusted EBITDA up 17% to €345m
  • ROCE up 150 bps to 11.3%
  • Cash from operating activities up 43% to €196m
  • Net profit up 75% to €149m
  • Outlook maintained

Key figures and indicators

in € millionQ1 2017Q1 2016% changeVolumePrice/mixFXOther
Adjusted EBITDA34529617%    
ROCE (%)11.3%9.8%     

CEO statement

Feike Sijbesma, CEO/Chairman of the DSM Managing Board, commented: "We are pleased to report a very good start to the year, with continued positive momentum in all businesses as we execute on our mid-term strategic and financial ambitions. Nutrition continued to deliver on its objectives with good growth from Animal and Human Nutrition. Materials demonstrated once again the benefit of its focus on specialties. Both businesses achieved strong volume growth, well above the market.

Notwithstanding the current global socio-economic volatility, we are confident that we will be able to deliver against our full-year objectives given our focus on improving our financial performance through our growth initiatives and our extensive and ambitious profit improvement programs. At the same time we continue to manage our business for the longer term by pursuing our innovation-driven growth strategy.”

Outlook 2017

DSM aims to deliver high-single digit percentage Adjusted EBITDA growth and high double-digit basis point ROCE growth in line with the targets set out in its Strategy 2018.

Key figures & indicators

in € millionQ1 2017Q1 2016% changeYTD Q1 2017YTD Q1 2016% change
Sales - Continuing Operations2,1591,91313%2,1591,91313%
Adjusted EDITDA34529617%34529617%
Innovation Center11 11 
Corporate Activities-26-25 -26-25 
Adjusted EBITDA margin16.0%15.5% 16.0%15.5% 
EBITDA334271 334271 
Adjusted EBIT222185 22218520%
EBIT206160 206160 
Capital Employed   7,9147,456 
Average Capital Employed   7,9017,505 
ROCE (%)   11.3%9.8% 
Effective tax rate   18.0%18.5% 
Adjusted net profit16310950%16310950%
Net profit - Total DSM
Adjusted net EPS
Net EPS - Total DSM0.840.46 0.840.46 
Cash Flow19613743%19613743%
Capital Expenditures113099 13099 
Net debt   2,0812,0702 

1) Cash, net of customer funding
2 ) Year-end 2016

In this report:
a) ‘Organic sales growth’ is the total impact of volume and price/mix;
b) ‘Total Working Capital’ refers to the total of ‘Operating Working Capital’ and ‘non-Operating Working Capital'

The complete version of this press release with accompanying financial statements and the Presentation to Investors are below in PDF format.

For more information

Lieke de Jong-Tops

Senior Communications Manager
+31 45 578 2420

Dave Huizing

Vice President Investor Relations
+31 45 578 2864

Lieke de Jong-Tops

Senior Communications Manager
+31 45 578 2420

Dave Huizing

Vice-President Investor Relations
+31 45 578 2864