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DSM reports "very good" first half

3 Aug 2018

DSM has reported what it describes as a very good H1 with strong performance across all businesses and strong organic sales growth in underlying business estimated at 10%.

DSM has reported what it describes as a very good H1 with strong performance across all businesses. The company says it saw continued strong organic sales growth in underlying business estimated at 10%, with adjusted EBITDA growth of underlying business estimated at 7%, despite significant FX headwind. Total Adjusted EBITDA was up 45% and net profit increased 103% to €633m. The full year outlook reconfirmed

Feike Sijbesma, CEO/Chairman DSM Managing Board, said: “Our ongoing focus on driving above market growth while pursuing efficiency initiatives and maintaining capital discipline, continues to drive our results. Following a strong start to the year, we are very pleased to report very good H1 results, with organic growth above market across all our businesses, and strong underlying Adjusted EBITDA growth despite significant foreign exchange headwinds. During the quarter, we also took another important step in monetizing our partnerships through announcing our exits from Fibrant and DSM Sinochem Pharmaceuticals. Our business conditions remain strong and we reiterate our full year 2018 outlook.”

“We are convinced our recent strategy update will create enhanced organic sales growth and continued EBITDA momentum, as DSM evolves further towards a purpose-led, science-based company in Nutrition, Health and Sustainable Living. The step-up in our dividend for 2018, already reflected in the interim dividend, demonstrates our confidence in our future earnings growth.”

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