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    DSM   NL0000009827

ROYAL DSM N.V.

(DSM)
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Royal DSM N : DSM Q3 core profit beats as demand for materials improves

11/03/2020 | 01:38am EDT

AMSTERDAM, Nov 3 (Reuters) - Dutch speciality chemicals company DSM on Tuesday beat analysts' expectations for third-quarter core profit, as industrial demand for its plastics, fibres and other materials recovered from a coronavirus-driven slump.

DSM said, however, sales fell 4% year-on-year to 1.96 billion euros ($2.28 billion) for the quarter ended Sept. 30, led by a 17% decrease in its materials division.

Revenue at the larger nutrition division remained stable, as the pandemic fuelled demand for DSM's vitamins and other food supplements.

"Conditions were overall good in Nutrition, with momentum in Materials improving," co-Chief Executive Officers Geraldine Matchett and Dimitri de Vreeze said in a statement.

"Materials, whilst still impacted by COVID-19, showed an improving volume trend relative to the prior quarter, especially in September."

The recent surge in COVID-19 patients, however, make it impossible to say whether this improvement will last, DSM said, as it declined to give an outlook for its full-year results.

The company posted a 1% drop on-year in adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) to 383 million euros for the quarter.

Analysts polled by the company on average had predicted adjusted EBITDA of 369 million euros on 2.01 billion euros of sales. ($1 = 0.8580 euros) (Reporting by Bart Meijer; Editing by Kim Coghill and Rashmi Aich)


ę Reuters 2020
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Analyst Recommendations on ROYAL DSM N.V.
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Financials
Sales 2021 8 971 M 10 411 M 10 411 M
Net income 2021 1 353 M 1 571 M 1 571 M
Net Debt 2021 1 108 M 1 286 M 1 286 M
P/E ratio 2021 21,6x
Yield 2021 1,35%
Capitalization 32 188 M 37 303 M 37 354 M
EV / Sales 2021 3,71x
EV / Sales 2022 3,50x
Nbr of Employees 21 173
Free-Float 91,1%
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 188,75 €
Average target price 183,86 €
Spread / Average Target -2,59%
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Managers and Directors
Dimitri de Vreeze Co-Chief Executive Officer & COO
GÚraldine Matchett Co-Chief Executive Officer & CFO
Thomas Leysen Chairman-Supervisory Board
Eileen A. Kennedy Member-Supervisory Board
Pradeep Pant Member-Supervisory Board
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