Press Release

Heerlen, NL, 03 May 2022 07:00 CET

Highlights¹

• DSM delivered a good first quarter
• Group sales +18% and Adjusted EBITDA +10%
  • Health, Nutrition & Bioscience: Sales +16%, organic sales +9%, Adjusted EBITDA +9%
  • Materials: Sales +25%, organic sales +21%, Adjusted EBITDA +11%
• Full Year outlook 2022 unchanged

Key figures²

Geraldine Matchett and Dimitri de Vreeze, Co-CEOs, commented: “DSM had a good start to the year with robust demand across our businesses and effective pricing measures to counteract inflation throughout the value chain. Despite the ongoing global logistics and supply chain challenges, the excellence of our people and our operations ensured we were able to continue to satisfy our customers’ needs. While we see ongoing volatility, resilient demand for our innovative and sustainability-focused solutions, together with our ability to drive effective pricing, leads us to reiterate our full year outlook.”

DSM’s outlook for the full year is unchanged. DSM expects its Health, Nutrition & Bioscience activities to deliver a high-single digit Adjusted EBITDA increase. For the Group, it expects a mid-single digit Adjusted EBITDA increase, with a high-single Adjusted Net Operating Free Cash Flow increase. This outlook is based on DSM’s expectation of a stable Adjusted EBITDA in Materials following the strong performance in 2021.

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 DSM’s Health, Nutrition & Bioscience structure became effective as of 1 January 2022. It consists of three businesses: Animal Nutrition and Health (ANH), Health, Nutrition and Care (HNC) and Food & Beverage (F&B). The preliminary comparative financial figures for 2021 were released in April 2022.}