Press Release
November 2, 2017
Strong performance in Q3 2017, contributing to very good first nine months.
Heerlen, NL, 02 Nov 2017 07:00 CET
in € million | Jan - Sep 2018 | Jan - Sep 2017 | % change | Volume | Price/mix | FX | Other |
---|---|---|---|---|---|---|---|
Sales | 6,456 | 5,905 | 9% | 7% | 1% | 1% | 0% |
Nutrition | 4,151 | 3,848 | 8% | 6% | 1% | 1% | 0% |
Materials | 2,132 | 1,874 | 14% | 8% | 5% | 0% | 1% |
Adjusted EBITDA (cont. operations)1 | 1,086 | 947 | 15% | ||||
Nutrition | 786 | 693 | 13% | ||||
Materials | 369 | 330 | 12% | ||||
EBITDA (cont. ops) | 1,032 | 904 | |||||
ROCE (%) | 12.3% | 10.6% |
1) Adjusted EBITDA (and adjusted Net profit) are Alternative Performance Measures (APM’s) that reflect continuing operations.
See page 11 of PDF version for definition and reconciliation
Feike Sijbesma, CEO and Chairman of the DSM Managing Board, commented: “We are pleased to report another strong quarter, resulting in a very good performance during the first nine months. Nutrition and Materials once again delivered organic growth rates well above their respective markets, with particularly good volume growth.
These results demonstrate significantly improved operational and financial performance, well ahead of plan, with all businesses delivering on their ambitious growth initiatives, and we are firmly on track with our cost-reduction and efficiency improvement programs. Furthermore, we successfully divested our share in Patheon ahead of schedule.
DSM confirms its full year 2017 outlook, despite slightly less favorable currency developments. In addition, with all of these developments ahead of plan we are bringing forward our regular strategic review process for the period beyond 2018 and anticipate communicating the results before mid-year 2018, as announced at our September Investor Event.”
DSM expects to deliver full-year 2017 results above the targets set out in its Strategy 2018, with an EBITDA growth for the year slightly up from high single-digit to double digit, and with a ROCE increase from double digit basis points to over 100 basis points.
in € million | Q3 2017 | Q3 2016 | % change | Volume | Price/mix | FX | Other |
---|---|---|---|---|---|---|---|
Sales | 2,136 | 1,998 | 7% | 9% | 1% | -3% | 0% |
Nutrition | 1,373 | 1,303 | 5% | 9% | -1% | -3% | 0% |
Materials | 706 | 634 | 11% | 9% | 5% | -3% | 0% |
Adjusted EBITDA (cont. operations)1 | 365 | 323 | 13% | ||||
Nutrition | 258 | 231 | 12% | ||||
Materials | 128 | 118 | 8% | ||||
EBITDA (cont. ops) | 343 | 301 | |||||
ROCE (%)2 | 12.3% | 10.6% |
1) Adjusted EBITDA (and adjusted Net profit) are Alternative Performance Measures (APM’s) that reflect continuing operations.
See page 11 of PDF version for definition and reconciliation
2) January up until September
in € million | Jan - Sep 2017 | Jan - Sep 2016 | % change | Volume | Price/mix | FX | Other |
---|---|---|---|---|---|---|---|
Sales | 6,456 | 5,905 | 9% | 7% | 1% | 1% | 0% |
Nutrition | 4,151 | 3,848 | 8% | 6% | 1% | 1% | 0% |
Materials | 2,132 | 1,874 | 14% | 8% | 5% | 0% | 1% |
Innovation Center | 126 | 126 | |||||
Corporate Activities | 47 | 57 |
in € million | Q3 2017 | Q3 2016 | % change | Volume | Price/mix | FX | Other |
---|---|---|---|---|---|---|---|
Sales | 2,136 | 1,998 | 7% | 9% | 1% | -3% | |
Nutrition | 1,373 | 1,303 | 5% | 9% | -1% | -3% | |
Materials | 706 | 634 | 11% | 9% | 5% | -3% | |
Innovation Center | 42 | 43 | |||||
Corporate Activities | 15 | 18 |
in € million | Jan - Sep 2017 | Jan - Sep 2016 | % change | Q3 2017 | Q3 2016 | % change |
---|---|---|---|---|---|---|
Sales | 6,456 | 5,905 | 9% | 2,136 | 1,998 | 7% |
Adjusted EBITDA (continued operations) | 1,086 | 947 | 15% | 365 | 323 | 13% |
Nutrition | 786 | 693 | 13% | 258 | 231 | 12% |
Materials | 369 | 330 | 12% | 128 | 118 | 8% |
Innovation Center | 5 | 2 | 4 | 1 | ||
Corporate Activities | -74 | -78 | -25 | -27 | ||
Adjusted EBITDA margin | 16.8% | 16.0% | 17.1% | 16.2% | ||
EBITDA (continued operations) | 1,032 | 904 | 343 | 301 | ||
Adjusted EBIT (continued operations) | 717 | 601 | 19% | 239 | 205 | 17% |
EBIT (continued operations) | 647 | 546 | 206 | 171 | ||
Capital Employed | 7,620 | 7,620 | ||||
Average Capital Employed | 7,779 | 7,561 | ||||
ROCE (%) | 12.3% | 10.6% | ||||
Effective tax rate | 18.0% | 18.5% | ||||
Adjusted net profit (continued operations) | 504 | 390 | 29% | 166 | 146 | 14% |
Net profit - Total DSM | 1,603 | 542 | 196% | 1,291 | 322 | 301% |
Adjusted net EPS | 2.81 | 2.17 | 29% | 0.91 | 0.81 | 12% |
Net EPS - Total DSM | 9.09 | 3.04 | 7.34 | 1.82 | ||
Cash Flow | 619 | 644 | -4% | 290 | 325 | -11% |
Capital Expenditures1 | 384 | 305 | 134 | 128 | ||
Net debt | 703 | 2,054 |
1) Cash, net of customer funding
In this report:
'Organic sales growth’ is the total impact of volume and price/mix;
‘Total Working Capital’ refers to the total of ‘Operating Working Capital’ and ‘non-Operating Working Capital’
The complete version of this press release with accompanying financial statements and the Presentation to Investors are below in PDF format.