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DSM's net profit down 37% in H1 2019 to €401 mn

Aug '19
Pic: DSM
Pic: DSM
DSM’s total net profit decreased by 37 per cent to €401 million in H1 2019 versus €633 million in H1 2018, when including temporary vitamin effect of €275 million EBITDA following an exceptional supply disruption in the industry. The group sales of the company were down by 5 per cent in H1 and down by 4 per cent in the second quarter of 2019.

The Nutrition business organic sales were up 4 per cent both for H1 and Q2 2019. The Materials business organic sales were down by 6 per cent in H1 and down by 7 per cent in Q2, according to a company press release.

“I am pleased to report a good performance for the first half year, achieved against a challenging macro-economic environment. The Nutrition business saw continued good business conditions and delivered a strong performance, demonstrating the quality of its innovative portfolio of value-added solutions. Materials experienced ongoing soft market conditions in some of its end-markets, especially in China. Through a continued strong performance in the Dyneema and Functional Materials businesses, combined with good margin management, our Materials business demonstrated resilience with stable earnings,” said Feike Sijbesma, CEO/chairman of DSM managing board. “DSM continues to be well positioned to deliver on our ambitious Strategy 2021 targets, driven by our commitment to be a purpose led, performance driven science-based company in Nutrition, Health and Sustainable Living. We reiterate our outlook for the full year.”

DSM expects to deliver a full year 2019 high single digit increase in adjusted EBITDA compared to prior year underlying adjusted EBITDA (pre-temporary vitamin effect), together with an improvement in underlying adjusted net operating free cash flow in line with its Strategy 2021 targets. (PC)

Fibre2Fashion News Desk – India

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