Press Release
April 27, 2011
DSM reports very strong Q1 2011 continuing its positive momentum
Q1 EBITDA from continuing operations up 14% to €325 million.
Heerlen, NL, 27 Apr 2011 07:15 CEST
- Q1 EBITDA from continuing operations up 14% to €325 million.
- Life Sciences results driven by ongoing good performance in Nutrition.
- Materials Sciences posts solid results reflecting volume gains and pricing strength.
- EPS €0.91, 30% higher also due to a lower tax rate.
- Martek integration underway; EBITDA in line with expectations.
- 2011 is expected to be a strong year for DSM towards achieving the 2013 targets.
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “Our robust performance in Q1 2011 represents further progress towards our 2013 targets as we continue to successfully execute our strategy. This improvement can be attributed to our focus on innovation, our global customer base, excellent market positions and presence in high growth economies.
“In the quarter we successfully completed our acquisition of Martek, welcoming its employees to DSM. The integration of Martek started immediately and the contribution to our profit is in line with expectations. Our business outlook for the rest of the year is positive and we expect 2011 to be a strong year for DSM.”
Key figures
| in € million | Q1 2011 | Q1 2010 | +/- |
|---|---|---|---|
| Continuing operations | |||
| Net sales | 2,234 | 1,933 | 16% |
| Operating profit before depreciation & amortization (EBITDA) | 325 | 284* | 14%** |
| Nutrition | 173 | 166 | |
| Pharma | 0 | 14 | |
| Performance Materials | 91 | 71 | |
| Polymer Intermediates | 99 | 50 | |
| Innovation Center | -13 | -13 | |
| Corporate activities | -25 | -4* | |
| Operating profit (EBIT) | 231 | 182* | 27% |
| Discontinued operations: | |||
| Net sales | 111 | 297 | |
| Operating profit before depreciation & amortization (EBITDA) | 23 | 51 | |
| Operating profit (EBIT) | 23 | 36 | |
| Total DSM: | |||
| Net sales | 2,345 | 2,230 | 5% |
| Operating profit before depreciation & amortization (EBITDA) | 348 | 335 | 4% |
| Net profit before exceptional items | 172 | 144 | 19% |
| Net result from exceptional items | -6 | -14 | |
| Net profit | 166 | 130 | 28% |
| Net earnings per ordinary share in €: | |||
| before exceptional items, continuing operations | 0.91 | 0.70 | 30% |
| including exceptional items, total DSM | 0.98 | 0.78 | 26% |
* of which € 8 million IFRS pension adjustment
** 18% if € 8 million IFRS pension adjustment is excluded
You can find the press release in full, including financial statements, below.