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DSM has reported its financial results for 2011, coming in with another strong year that increases company dividends. The company also reported fourth quarter EBITDA from continuing operations up 6% to €293 million, and full year EBITDA from continuing operations increased 12% to €1,296 million.
DSM’s dividend increased by €0.10 to €1.45 per ordinary share proposed for 2011, and for 2012, the company is projecting a cautiously optimistic outlook that is on the way to achieving 2013 targets.
Commenting on the results, Feike Sijbesma, CEO and chairman of the DSM managing board, said, “2011 was another strong year for DSM despite the challenges of the global economy, adverse currency movements and high raw material costs. As a consequence we propose to increase our dividend for the second consecutive year. In nutrition we made good progress once again, and polymer intermediates delivered its highest profitability in history.
“Furthermore, we made significant steps in the first year of implementing our growth strategy. This included the acquisition of Martek, the formation of the joint venture with Sinochem, the completion of non-core divestments, progress in sustainability-related innovations and expansion into high growth economies, which now account for 39% of sales. At the start of 2012 we announced an exciting joint venture with POET, to make advanced biofuels a reality on a commercial scale.
“We are conscious that risks to the macro-economic global outlook remain, and that weakness in Europe and some of our end markets, especially building and construction, persists. However, we believe that our balanced, relatively resilient portfolio in health, nutrition and materials, our broad geographic spread with a significant presence in high growth economies, together with our strong balance sheet, leave us well placed to achieve our ambitious 2013 targets,” Sijbesma concluded.
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