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DSM maintains positive momentum with strong first half year

8 Aug 2017

DSM has reported that its second quarter concluded a very strong first half, with sales up 11% to €4,320m, with 8% organic growth. Adjusted EBITDA was up 16% to €721m.

DSM has reported that its second quarter concluded a very strong first half, with sales up 11% to €4,320m, with 8% organic growth. Adjusted EBITDA was up 16% to €721m, driven by both Nutrition and Materials, while net profit was up 42% to €312m.

“DSM maintained its positive momentum with a very strong first half-year performance,” said Feike Sijbesma, CEO/Chairman of the DSM Managing Board. “The second quarter was another very good quarter.

Halfway through Strategy 2018, we are well ahead of our targets. All businesses are delivering on their growth initiatives, helping us outpace the market; we increasingly provide our customers with innovative solutions, resulting in a continued shift toward specialties. Furthermore, we are fully on track with our wide-ranging cost-reduction and efficiency improvement programs, while anchoring the high-performance culture we strive for. We also continued to make good progress with our sustainability agenda, future-proofing our operations and delivering products and solutions which help our customers to make their businesses more sustainable. The expected Patheon transaction demonstrates our commitment to monetize the significant value within our associates and earlier than anticipated.

While being mindful of the volatile macro-economic environment and the higher-base results achieved since 2015, we are confident for the remainder of the year and have increased our outlook for the full year."

DSM now expects to deliver full-year 2017 results above the targets set out in its Strategy 2018, with an EBITDA growth for the year moving slightly up from high single-digit to double digit, and with a ROCE increase moving from double digit basis points to over 100 basis points.