Press release

DSM provides Q1 2021 trading update

Heerlen, NL, 05 May 2021 07:00 CEST


  • DSM delivered a very good first quarter
  • Group sales +7% and Adjusted EBITDA +13%
    • Nutrition: sales +7%, organic sales +7%, Adjusted EBITDA +9%
    • Materials: sales +13%, volumes +21%, Adjusted EBITDA +27%
  • Outlook 2021: Group Outlook updated to reflect stronger Materials recovery

Key figures – continuing operations2

in € millionQ1 2021Q1 2020% ChangeVolumePrice/mixFXOther
Adjusted EBITDA44139013%    
Adjusted EBITDA margin20.1%19.1%     

Co-CEOs statement

Geraldine Matchett and Dimitri de Vreeze, Co-CEOs, commented: “We made a very good start to the year despite the ongoing challenging COVID-19 environment. Our Nutrition business continued to perform well, with positive momentum in line with the trading conditions we saw during the second half of 2020.

The strong recovery of our Materials business at the end of last year has continued into Q1, supported by ongoing restocking by customers. Our increasing confidence in the recovery for Materials, combined with our unchanged positive outlook for Nutrition, leads us to increase our overall outlook for the Group for 2021.”

Outlook 2021

For the full year, DSM continues to expect an Adjusted EBITDA increase in Nutrition at the upper end of its mid-term strategic ambition of high single digit growth. Together with a stronger recovery in Materials than foreseen at the FY 2020 results release, DSM now expects an Adjusted EBITDA growth rate for the Group moving towards the mid-teens, with a continued good Adjusted Net Operating Free Cash Flow.

The complete version of this press release can be found here.

1) Adjusted EBITDA is an Alternative Performance Measure (APM) that reflects results from usual operations. Organic sales growth is the total impact of volume and price/mix. Adjusted Net Operating Free Cash Flow is the cash flow from operating activities, corrected for the cash flow of the APM adjustments, minus the cash flow of capital expenditures and drawing rights.
2) Results and KPIs throughout this press release reflect continued operations, excluding the Resins & Functional Materials and associated businesses which were classified as ‘held for sale’ in September 2020. The sale was finalized on 1 April 2021.

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