Despite the continuing difficult economic conditions, Royal DSM have reported a third quarter EBITDA of €342 million compared to €270 million in Q3 2012. The improvement of 27% was realised despite the challenging markets.
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: "I am pleased to report increased profitability in all our business clusters despite the initial impact from adverse currency movements and a continued challenging macro-economic environment. Nutrition continued its good performance notwithstanding some headwinds that emerged towards the end of Q3. Materials Sciences also delivered solid performance with higher profits.
Sales in Q3 rose 12% compared to Q3 2012, mainly driven by acquisitions. Organic sales growth was 2% compared to Q3 2012. Currencies had a -4% impact on sales compared to Q3 2012.
Animal Nutrition & Health delivered an organic sales growth of 1% compared to Q3 2012, driven by the continued recovery in global animal protein production. However, this recovery remains fragile creating price pressure towards the end of the quarter especially in vitamin E. In addition, poultry and aquaculture protein markets continued to be impacted by diseases in several high growth economies. In Q3 Tortuga delivered sales of €76 million and EBITDA of €15 million, in line with expectations.
You can read the full Q3 report here.
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