DSM has reported what it describes as another strong quarter. Group sales were up 3% at €1,998m, with 3% organic growth, and EBITDA up 13% to €323m. Nutrition saw 5% organic sales growth.
DSM has reported what it describes as another strong quarter. Group sales were up 3% at €1,998m, with 3% organic growth, and EBITDA up 13% to €323m. Nutrition saw 5% organic sales growth, with EBITDA up 8%. Net profit was up 38% to €146m. The company maintained its outlook.“We are pleased to report another quarter of strong operational and financial progress,” said Feike Sijbesma, CEO/Chairman of the DSM Managing Board. “This was driven by both Materials and Nutrition, reflecting the progress we are making on delivering on our Strategy 2018 through our growth initiatives as well as ambitious improvement and cost savings actions.”Materials had a quarter of strong volume growth driven again by specialties, enhanced by particularly high margins as a result of a very favorable product mix and pro-active margin management, while still benefiting from low input costs. Nutrition delivered good EBITDA growth, despite additional costs in the quarter. Animal Nutrition benefited from increased vitamin prices, with solid volume growth against a tougher prior year comparison. Human Nutrition delivered strong volume growth.”While the global macro-economic environment remains a concern, we continue to expect that for the full year 2016, we will deliver ahead of our medium-term goals, given the strong ongoing performance of our business, underpinned by our continued focus on the improvement programs.”