DSM reports Q1 2014 results

Alleen voor leden beschikbaar, wordt daarom gratis lid!

Beleggingsadvies 06/05/2014 07:52
In Q1 2014 DSM delivered €272 million EBITDA from continuing operations, in line with expectations
Q1 2014 EBITDA from continuing operations was €29 million below Q1 2013, of which about €23 million was due to adverse exchange rate developments
The impact of the headwinds in Nutrition appear to have peaked in Q1
In Performance Materials all business groups delivered good volume growth
DSM maintains 2014 outlook, anticipating EBITDA improvements over the coming quarters
Royal DSM, the Life Sciences and Materials Sciences company, today reported first quarter EBITDA from continuing operations of €272 million compared to €301 million in Q1 2013. This performance was delivered against significant adverse foreign exchange rates. As expected, Nutrition experienced in Q1 the continued impact of the market headwinds, which also affected Q4 2013. Materials Sciences was impacted by lower results in caprolactam.

Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said:
"DSM delivered results in line with expectations, despite further currency deterioration during the quarter. We are pleased to report that market conditions in Nutrition began to show some signs of improvement by the end of the quarter. Our performance in Q1 demonstrates DSM's strength in Nutrition, owing to our highly integrated and global business model, benefiting from the structural megatrends of health and wellness. We also see a more positive momentum in a number of Performance Materials end-markets."

"Through maintaining our focus on the operational performance of the business, benefiting from the Profit Improvement Program, we continue to execute our near term initiatives of protecting profitability and improving cash flow. Therefore, we confirm our outlook given in January 2014, and anticipate to deliver improving financial results in the coming quarters."

Below are some highlights of DSM's Q1 2014 achievements.

High Growth Economies: from reaching out to being truly global

In India, DSM inaugurated its Fortitech® Premixes plant in Vadodara, Gujarat. The plant covers 10,000 square meters and will be a "one-stop shop" for food, beverage and pharmaceutical manufacturers looking for ingredient fortification as an important way to differentiate their products. The new plant will service the South Asian market.

Innovation: from building the machine to doubling innovation output

For its Biomedical operations, DSM opened a plant (the only one of its kind) dedicated solely to the production of medical-grade fibers, in Greenville, North Carolina (USA). It also opened its first in-house medical coating service plant in Exton, Pennsylvania (USA).

Sustainability: from responsibility to business driver

DSM's advanced cellulosic yeast product was named the 'Breakthrough Technology of the Year' by Green Power Conferences.

Acquisitions & Partnerships: from portfolio transformation to driving focused growth

JLL Partners and DSM announced the successful completion of the transaction announced in November 2013 combining DSM Pharmaceutical Products and Patheon Inc. into a new privately held company, named DPx, in which DSM holds a 49% share. DPx is leading global contract development and manufacturing organization (CDMO) for the pharmaceutical industry with anticipated 2014 sales of around USD 2 billion (full year pro-forma), a strong EBITDA and operational cash flow and more than 8,000 employees. The new company started well.

Outlook unchanged
For 2014 DSM takes a prudent approach, assuming the unfavorable January 2014 foreign exchange rates are maintained for the year. Furthermore, DSM assumes a continued challenging macro-economic environment, with low growth in Europe, modest growth in the US, and a slowdown in the high growth economies.

Based on the above, DSM targets for 2014 to improve its business performance to at least offset the negative currency impact of €70 million at January 2014 exchange rates.

Comparable EBITDA in 2013 from continuing operations after new accounting rules for joint ventures amounted to €1,261 million.

zie meer op www.dsm.com

tijd 11.00
DSM EUR 52,83 +2,04 vol. 709.00



Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord


Copyrights © 2000 by XEA.nl all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.


Copyrights © DEBELEGGERSADVISEUR.NL