Royal DSM, the Life Sciences and Materials Sciences company, reported a second quarter EBITDA of €345 million compared to €290 million in Q2 2012 and €311 million in Q1 2013.
The improvement compared to Q2 2012 was realized despite a negative caprolactam effect of €20 million and a challenging macro-economic environment, which mainly affected Materials Sciences.
Highlights:
- DSM records 19% higher Q2 EBITDA versus Q2 2012 (€345 million versus €290 million)
- Nutrition EBITDA up 28% versus Q2 2012 driven by acquisitions and organic growth
- Materials Sciences continues to deliver a solid performance
- Q2 cash flow from operating activities €231 million, higher than Q2 2012 and Q1 2013
- Core earnings per share Q2 2013 up 28% compared to Q2 2012
- Interim dividend of €0.50, in line with DSM's dividend policy
- Outlook 2013 unchanged, moving towards EBITDA of €1.4 billion
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: "We are pleased to report that the momentum in our Nutrition business that we saw at the end of Q1 continued into Q2.
"Nutrition, with its higher profits and healthy margins, is demonstrating the quality of its broad offering across the value chain. Materials Sciences' profit remained at the same level as last year despite a negative caprolactam impact of €20 million and a challenging market environment."
"For the rest of this year, we will continue to fully focus on operational performance and on the integration of our acquisitions, ensuring the capture of synergies. In addition, the early successes of our profit improvement initiatives leave us confident that this group-wide program is well on track. We expect strong EBITDA growth in 2013, moving towards €1.4 billion."
