1. Homepage
  2. Equities
  3. Netherlands
  4. Euronext Amsterdam
  5. Royal DSM N.V.
  6. News
  7. Summary
    DSM   NL0000009827

ROYAL DSM N.V.

(DSM)
  Report
Real-time Euronext Amsterdam  -  11:35 2022-08-17 am EDT
144.35 EUR   -0.72%
08/05Firmenich marks last year of independence with record profit
RE
08/05Firmenich marks last year of independence with record profit
RE
08/04ROYAL DSM N.V. : Ex-dividend day for interim dividend
FA
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Firmenich marks last year of independence with record profit

08/05/2022 | 04:41am EDT
FILE PHOTO: A logo is pictured in front of flavour and fragrance maker Firmenich production site, in Meyrin

FRANKFURT (Reuters) - Market share gains in fine fragrances and strong demand for its food ingredients helped Switzerland's Firmenich, which has agreed to merge with DSM, deliver a near 11% jump in adjusted annual earnings on Friday.

Dutch specialty chemicals maker DSM in May struck back-to-back deals to sell its engineering plastics division and to combine with Firmenich to focus on the fast-growing food, fragrance and health products markets.

Family-controlled Firmenich said its full-year earnings before interest, tax, depreciation and amortisation (EBITDA), adjusted for one-offs, reached a record high of 905 million Swiss francs ($946 million) for the full year ended June 30.

It said in a statement its earnings were also bolstered by 20% growth in sugar replacement products and a business with makers of plant-based proteins that more than doubled.

Shaky supply chains prompted Firmenich to keep higher stocks of raw materials, resulting in a 5.9% drop in adjusted free cash flow, which it said was also hit by cost inflation.

DSM, whose leadership team will head the combined group, this week reiterated its full-year profit guidance for its core business areas health, nutrition and bioscience.

While DSM's adjusted EBITDA is still projected to grow by a "high-single digit" percentage, Firmenich, said on Friday it would not provide short-term earnings guidance.

"The two companies are getting into this merger from a position of strength and I think the record year that we have announced is another proof that this is the case," Firmenich CEO Gilbert Ghostine told Reuters.

Under the merger, which is expected to be wrapped up during the first half of next year, DSM shareholders will take a 65.5% stake, while the family behind unlisted Firmenich will get 34.5%plus 3.5 billion euros ($3.58 billion) in cash.

($1 = 0.9564 Swiss francs)

($1 = 0.9773 euros)

(Reporting by Ludwig Burger; Editing by Rachel More, Rashmi Aich and Alexander Smith)

By Ludwig Burger


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
COMBINED GROUP CONTRACTING COMPANY - K.S.C. (PUBLIC) -0.21% 0.476 End-of-day quote.34.46%
ROYAL DSM N.V. -0.72% 144.35 Real-time Quote.-27.10%
All news about ROYAL DSM N.V.
08/05Firmenich marks last year of independence with record profit
RE
08/05Firmenich marks last year of independence with record profit
RE
08/04ROYAL DSM N.V. : Ex-dividend day for interim dividend
FA
08/02GLOBAL MARKETS LIVE : Uber, Pinterest, KKR, Oracle, Twitter...
MS
08/02TRANSCRIPT : Koninklijke DSM N.V., H1 2022 Earnings Call, Aug 02, 2022
CI
08/02Dutch Nutrition Group DSM Posts H1 Profit, Revenue Growth
MT
08/02Koninklijke DSM N.V. Reports Earnings Results for the Half Year Ended June 30, 2022
CI
08/02ROYAL DSM N : Press release & financial statements
PU
08/02ROYAL DSM N : DSM H1 2022 results
PU
08/02Dutch Nutrition Group DSM's H1 Profit Tumbles Amid Strategic Revamp
MT
More news
Analyst Recommendations on ROYAL DSM N.V.
More recommendations
Financials
Sales 2022 9 348 M 9 506 M 9 506 M
Net income 2022 1 100 M 1 118 M 1 118 M
Net Debt 2022 193 M 196 M 196 M
P/E ratio 2022 28,2x
Yield 2022 1,81%
Capitalization 24 776 M 25 197 M 25 197 M
EV / Sales 2022 2,67x
EV / Sales 2023 2,52x
Nbr of Employees 21 760
Free-Float 98,7%
Chart ROYAL DSM N.V.
Duration : Period :
Royal DSM N.V. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ROYAL DSM N.V.
Short TermMid-TermLong Term
TrendsNeutralNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 21
Last Close Price 144,35 €
Average target price 179,50 €
Spread / Average Target 24,3%
EPS Revisions
Managers and Directors
Dimitri de Vreeze Member-Management Board
Géraldine Matchett Member-Management Board
Thomas Leysen Chairman-Supervisory Board
Eileen A. Kennedy Member-Supervisory Board
Pradeep Pant Member-Supervisory Board
Sector and Competitors
1st jan.Capi. (M$)
ROYAL DSM N.V.-27.10%25 396
NESTLÉ S.A.-9.59%334 540
MONDELEZ INTERNATIONAL, INC.-0.53%90 403
ARCHER-DANIELS-MIDLAND COMPANY28.10%48 533
THE KRAFT HEINZ COMPANY8.16%47 584
THE HERSHEY COMPANY19.25%47 294