Press Release
February 23, 2011
Full-year operating profit continuing operations up 74% to €752 million, dividend increase of 12.5% per ordinary share proposed.
Heerlen, NL, 23 Feb 2011 07:15 CET
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “I am proud to report such strong financial results for 2010, which reflect our focus on innovation and our customers across the globe as well as cost and cash management supported by an improving economic climate. Within the Life Sciences businesses, our Nutrition business continued to record very good results, whilst Pharma needs improvement. The Materials Sciences businesses delivered a significant improvement during the year with a record result for Polymer Intermediates.
“The year 2010 was the last in a period of transformation for DSM to become a focused Life Sciences and Materials Sciences company. We successfully completed our Vision 2010 strategy, including divesting the remaining non-core assets within the promised timescale. Subsequently, through a series of important transactions we have started to build additional strong growth platforms for the next phase of our strategy ‘DSM in motion: driving focused growth’ as evidenced by the announced acquisition of Martek and the announced joint venture with Sinochem for our anti-infectives business. We are confident that 2010 has laid the foundation for achieving our new strategic growth and profitability objectives and therefore we are proposing to raise our dividend from €1.20 to €1.35 instead of the €1.30 announced in September 2010.”
| Q4 2010 | Q4 2009 | +/- | in € million | FY 2010 | FY 2009 | +/- |
|---|---|---|---|---|---|---|
| Continuing operations: | ||||||
| 2,082 | 1,758 | 18% | Net sales | 8,176 | 6,725 | 22% |
| 276 | 260 | 6% | Operating profit before depreciation & amortization (EBITDA) | 1,161 | 834 | 39% |
| 170 | 145 | 17% | Operating profit (EBIT) | 752 | 433 | 74% |
| 136 | 137 | Nutrition | 569 | 521 | ||
| 12 | 16 | Pharma | 7 | 32 | ||
| 30 | 23 | Performance Materials | 179 | 68 | ||
| 55 | 11 | Polymer Intermediates | 192 | 6 | ||
| -63 | -42 | Other activities | -195 | -194 | ||
| Discontinued operations: | ||||||
| 120 | 258 | Net sales | 874 | 1,141 | ||
| 14 | 15 | Operating profit before depreciation & amortization (EBITDA) | 117 | 83 | ||
| 10 | -3 | Operating profit (EBIT) | 86 | 10 | ||
| Total DSM: | ||||||
| 2,202 | 2,016 | 9% | Net sales | 9,050 | 7,866 | 15% |
| 180 | 142 | 27% | Operating profit (EBIT) | 838 | 443 | 89% |
| 117 | 89 | Net profit before exceptional items | 547 | 244 | ||
| 32 | -149 | Net result from exceptional items | -40 | 93 | ||
| 149 | -60 | Net profit | 507 | 337 | ||
| Net earnings per ordinary share in €: | ||||||
| 0.63 | 0.54 | before exceptional items, continuing operations | 2.89 | 1.44 | ||
| 0.89 | -0.39 | including exceptional items, total DSM | 3.03 | 2.01 |
You can find the press release in full, including financial statements, below.
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