Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  Royal DSM    DSM   NL0000009827

ROYAL DSM

(DSM)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsAnalyst Recommendations

Evonik confirms 2019 outlook despite 'gloomy' economy, weaker second-quarter

share with twitter share with LinkedIn share with facebook
share via e-mail
0
08/01/2019 | 01:16am EST
The logo of German specialty chemical company Evonik Industries AG is pictured at their plant in Bitterfeld

(Reuters) - German chemicals group Evonik reported lower second-quarter core profit and sales on Thursday, but said it was on track to hit its 2019 targets despite "an increasingly gloomy economic environment."

Second-quarter earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for one-offs, fell 8% to 566 million euros (£515.7 million), below the average analyst estimate of 575 million euros in a Refinitiv poll. Sales were down 3% at 3.31 billion euros, also below analysts' forecasts.

"The cooling of world trade and an increasing weakness in major industries isn't making it easier. Still, we are confident for the remainder of the year," chief executive Christian Kullmann said in a statement. Kullmann said the company's strategy of investing in areas with stable growth perspectives and selling off cyclical businesses at the right time made it less exposed to economic cycles.

The maker of specialty chemicals said it expected adjusted EBITDA to at least reach last year's level of 2.15 billion euros, excluding its methacrylates unit - the maker of plastics for clear acrylic sheet, which was sold to buyout group Advent.

Evonik said the deal closed on July 31.

The company is a producer of specialty chemicals used in numerous industries, and its products range from amino acids used in animal feed to super-absorbers for diapers.

The guidance confirmation comes against a backdrop of a slowing economy and market uncertainty caused by trade conflicts, which led German chemical industry body VCI to cut its 2019 sales outlook for the sector early last month.

Also last month, shares of Evonik came under pressure after its larger rival BASF issued its second profit warning in seven months, citing global economic slowdown and trade war between the United States and China.

Evonik shares have been up 19% so far this year, which is a better performance than that of BASF, but is lagging peers such as Lanxess and DSM .

(Reporting by Bartosz Dabrowski in Gdynia; Editing by Tomasz Janowski)

Stocks mentioned in the article
ChangeLast1st jan.
BASF SE 0.40% 70.49 Delayed Quote.16.24%
EVONIK INDUSTRIES AG 0.77% 26.03 Delayed Quote.18.49%
LANXESS 2.50% 63.88 Delayed Quote.55.02%
ROYAL DSM 1.08% 116.7 Delayed Quote.61.60%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on ROYAL DSM
11/05DSM : reorganizes engineering plastics distribution network in North America
BU
11/05ROYAL DSM : DSM - repurchase of shares (28 October - 1 November 2019)
PU
11/05ROYAL DSM : DSM reports results first nine months 2019 results
PU
10/31ROYAL DSM : DSM releases first-ever UL-certified flame-retardant PA6/66 material..
PU
10/31KONINKLIJKE DSM N.V. : quaterly earnings release
10/29ROYAL DSM : DSM and Twikit drive innovation with end-to-end 3D printing solution..
PU
10/29ROYAL DSM : New mobility, the future's begun
PU
10/29ROYAL DSM : DSM - repurchase of shares (21-25 October 2019)
PU
10/25ROYAL DSM : DSM and ECOR announce partnership with innovators in furniture indus..
PU
10/23ROYAL DSM : DSM and AMT partner to optimize materials and post-processing to off..
PU
More news
Financials (EUR)
Sales 2019 9 133 M
EBIT 2019 1 119 M
Net income 2019 834 M
Debt 2019 1 302 M
Yield 2019 2,11%
P/E ratio 2019 24,2x
P/E ratio 2020 21,6x
EV / Sales2019 2,29x
EV / Sales2020 2,17x
Capitalization 19 631 M
Chart ROYAL DSM
Duration : Period :
Royal DSM Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ROYAL DSM
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 114,55  €
Last Close Price 115,45  €
Spread / Highest target 27,3%
Spread / Average Target -0,78%
Spread / Lowest Target -36,8%
EPS Revisions
Managers
NameTitle
Feike Sijbesma Chairman-Management Board & CEO
Robert John Routs Chairman-Supervisory Board
Géraldine Matchett Chief Financial Officer
Pauline F. M. van der Meer Mohr Deputy Chairman
Victoria Franchetti Haynes Independent Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL DSM61.60%21 618
BASF SE16.24%71 012
DUPONT DE NEMOURS, INC.-6.38%51 856
SHIN-ETSU CHEMICAL CO., LTD.42.91%45 227
GROUPE BRUXELLES LAMBERT20.72%15 792
ASAHI KASEI CORPORATION11.09%15 533