News
November 4, 2026
Ad hoc announcement pursuant to article 53 LR
Kaiseraugst (Switzerland), Maastricht (Netherlands), November 4, 2026
Highlights
Dimitri de Vreeze, CEO, commented: “We delivered another good quarter of volume-led growth and continued Adjusted EBITDA margin improvement. All businesses contributed well, demonstrating the quality of our portfolio in an ongoing highly dynamic global macroeconomic environment. Moving into the fourth quarter, business conditions remain supportive, with a healthy innovation pipeline, high win rates, and continued good sales growth.
We are well on track to deliver our 2026 targets, driving top-line growth and margin expansion, while maintaining a strong focus on cash and capital discipline. In addition, our cost savings and restructuring program are progressing well. Together, this provides us with an excellent platform to deliver on our 2027-2028 targets.”
Group Performance – Continuing Operations
In the third quarter of 2026, dsm-firmenich delivered good, volume-led LFL sales growth of 5%, consistent with year-to-date performance, reflecting continued good business momentum across the portfolio. This positive momentum was driven by high win rates on customer briefs and strong performance across regional and local accounts.
Adjusted EBITDA in the quarter was up 8% on a LFL basis and the Adjusted EBITDA margin increased sequentially to 20.4%, which includes an 80 bps negative foreign exchange effect versus Q3 last year. The company continues to address cost inflation through a range of initiatives, including its cost savings and restructuring program and further pricing actions.
in € millions | Q3 YTD 2026 | Q3 YTD 2025 | % LFL | Q3 2026 | Q3 2025 | % LFL |
Sales | 7,032 | 6,881 | 5 | 2,368 | 2,238 | 5 |
Adj. EBITDA | 1,382 | 1,364 | 7 | 482 | 458 | 8 |
Adj. EBITDA margin (%) | 19.7 | 19.8 | 20.4 | 20.5 |
FY 2026 Outlook
The company continues to deliver on its 2026 Strategic Action Plan and expects Continuing Operations in FY 2026 to deliver:
Strategic ambitions
dsm-firmenich operates through three unique and complementary Business Units: Perfumery & Beauty, Taste, Texture & Health, and Health, Nutrition & Care. These businesses are supported by clear strategic choices, a simplified operating model, and a strong focus on customer-driven innovation.
The strategic ambition is to grow by leveraging a unique combination of science, creativity, and customer intimacy, while anchoring performance through operational excellence, disciplined capital allocation, cost saving programs, and consistent commercial practices across the Group. With the Group-wide transformation successfully executed, following the announced divestment of Animal Nutrition & Health, the focus has shifted to accelerating growth and performance across the three Business Units.
Looking ahead, the priority is to continue executing the plan for the remainder of 2026 and throughout 2027, driving growth and synergies, expanding EBITDA margins, and improving cash conversion. This will be underpinned by normalized capital expenditure, tighter working capital management, and greater cost discipline.
The materials from the March 2026 Capital Markets Day are available here.
Share buyback program
On September 30, the company successfully completed its share repurchase program, repurchasing a total number of 7,169,147 shares at an average price of €75.32, for a total consideration of €540 million. Of the total, 680,701 shares were repurchased to cover commitments under the Group’s share-based compensation plans, and 6,488,446 shares were repurchased for capital reduction purposes. The latter are expected to be cancelled by the end of Q1 2027, reducing the number of issued shares by approximately 2.6%, from 253,626,947 to 247,138,501.
Financial calendar
February 18, 2027 – Publication of dsm-firmenich FY 2026 results
March 24, 2027 – AGM, Kaiseraugst (CH)
May 4, 2027 – Publication of dsm-firmenich Q1 2027 trading update
July 29, 2027 – Publication of dsm-firmenich H1 2027 results
November 3, 2027 - Publication of dsm-firmenich Q3 2027 trading update
Additional information
Today dsm-firmenich will hold a webcast for investors and analysts at 9:00 am CET. Details on how to access this call can be found on www.dsm-firmenich.com
Notes to this trading update
The reported financial data in this trading update have not been audited.
A PDF version of this press release can be found here.
For more information
Media relations
Robin Roothans
tel. +41 (0)79 280 03 96
e-mail: media@dsm-firmenich.com
Investor relations
Dave Huizing
tel. +31 (0)88 425 7306
e-mail: investors@dsm-firmenich.com
About dsm-firmenich
As innovators in nutrition, health, and beauty, dsm-firmenich reinvents, manufactures, and combines vital nutrients, flavors, and fragrances for the world’s growing population to thrive. With our comprehensive range of solutions, with natural and renewable ingredients and renowned science and technology capabilities, we work to create what is essential for life, desirable for consumers, and more sustainable for people and the planet. dsm-firmenich is a Swiss company, listed on Euronext Amsterdam (DSFIR) and SIX Swiss Exchange (DSFIR), with operations in almost 60 countries and revenues of more than €9 billion for its Continuing Operations following the divestment of Animal Nutrition & Health. With a diverse, worldwide team of nearly 21,000 employees, we bring progress to life every day, everywhere, for billions of people. www.dsm-firmenich.com
About Continuing Operations
Continuing Operations reflects the results of dsm-firmenich, following the announced divestment of Animal Nutrition & Health (ANH) activities to CVC Capital Partners. The assets and liabilities of the divested businesses have been classified as Assets Held for Sale in accordance with IFRS 5, and the results of the divested businesses have been reclassified to Discontinued Operations.
Forward-looking statements
This press release may contain forward-looking statements with respect to dsm-firmenich’s future (financial) performance and position. Such statements are based on current expectations, estimates and projections of dsm-firmenich and information currently available to the company. dsm-firmenich cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance, transaction progress and positions to differ materially from these statements. dsm-firmenich has no obligation to update the statements contained in this press release, unless required by law. This communication contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. The English language version of this press release prevails over other language versions.