Company update: DSM 2010 results
Global life science company DSM reports that its 'Vision 2010 strategy' has been successfully completed and that it now will drive focused growth.
Operating profit in the fourth quarter increased by 17% to €170 million and full-year operating profit from continuing operations was up 74% to €752 million.
DSM said that the very good Nutrition performance has driven the Life Sciences results, but also a significant improvement in results of the Materials Sciences group has been achieved.
Cash flow form operating activities was €1.1 billion in 2010. DSM proposed a dividend increase of 12.5% to €1.35 per ordinary share for 2010.
, CEO/Chairman of the DSM Managing Board, said that he was proud to report such strong financial results.
"They reflect our focus on innovation and our customers across the globe as well as cost and cash management supported by an improving economic climate.
“Within the Life Sciences businesses, our Nutrition business continued to record very good results, whilst Pharma needs improvement. The Materials Sciences businesses delivered a significant improvement during the year with a record result for Polymer Intermediates.
"The year 2010 was the last in a period of transformation for DSM to become a focused Life Sciences and Materials Sciences company.
“We successfully completed our Vision 2010 strategy, including divesting the remaining non-core assets within the promised timescale.”
The company now is working on the next phase of its strategy named: 'DSM in motion: driving focused growth'.
A start was already made with the acquisition of Martek
and the announced joint venture with Sinochem for our anti-infectives business.
“We are confident that 2010 has laid the foundation for achieving our new strategic growth and profitability objectives and therefore we are proposing to raise our dividend from € 1.20 to € 1.35 instead of the € 1.30 announced in September 2010, " Sijbesma said.
Detailed DSM’s 2010 results (pdf)
DSM financial summary (pdf)
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