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Royal DSM EBITDA increases 20% in 2013
21
Jan '14
Royal DSM, the Life Sciences and Materials Sciences company, reported preliminary, unaudited, results for 2013 and provided an outlook for 2014.

Final audited results, in conjunction with its Integrated Annual Report, will be published as scheduled on 26 February 2014.

Highlights:
- 2013 FY EBITDA substantially up to about €1,314 million (2012 FY: €1,109 million)
- Q4 2013 EBITDA of around €316 million (Q4 2012: €243 million)
- Nutrition Q4 EBITDA of approximately €207 million (2012: €204 million)
- Materials Sciences Q4 EBITDA of about €108 million (2012: €66 million)
- Target for 2014 to improve its business performance to at least offset negative currency impact

DSM delivered roughly 20% higher EBITDA for the full year 2013, in spite of the challenging economic environment. For Q4 the company realized an approximately 30% higher EBITDA.

In Q4 all clusters delivered a solid performance despite negative exchange rate effects. Nutrition was in addition impacted by a combination of unrelated market headwinds.

These included weakness in dietary supplements and fish oil based Omega 3 markets in the US, soft demand in Western food & beverage markets, and price pressures especially in vitamin E following weak demand in animal feed markets earlier in the year. DSM previously signaled these adverse conditions, but the impact through the end of the year was more pronounced than anticipated.

Due to the transaction announced with JLL Partners, DSM Pharmaceutical Products has been classified as discontinued operations.

Commenting on these preliminary results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “We achieved significant strategic progress in 2013, also demonstrated by an approximately 20% increase in full year EBITDA. We were pleased with the strong performance in Materials Sciences in Q4. Despite the moderate Q4 results in Nutrition, due to currencies and market weakness, DSM’s market positions remained strong.

"This business with its broad, global offering across the value chain is well positioned to benefit from the structural megatrends, with the need to nourish a growing and aging global population, living increasingly in urban areas, paying more attention to health and well-being. This will continue to drive increased demand for nutritional ingredients.

"We are and remain firmly on track to deliver on our strategy and to create sustainable value with all our clusters. In the short term our focus will continue on the operational performance of our businesses, supported by our Profit Improvement Program and intensified R&D and innovation programs.”

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