DSM Releases Financial Report for Nine Months of 2020

Contact Author
Fill out my online form.

DSM reports a solid first nine months in a challenging COVID-19 environment, with a continuing robust performance in Q3.

DSM has reported its financial results from the first nine months of 2020, which span January-September.

Related: DSM Provides Preliminary 2019 and 2020 H1 Comparative Figures

The total sales for the reported period is €6,026 million with nutrition €4,771 million and materials with €1,092 million. Nutrition sales have increased sales 4%, organic sales increased 5% and adjusted EBITDA increased 6%.

DSM suspended its overall earnings outlook for the full year 2020 earlier this year owing to COVID-19 related uncertainties in Materials. For nutrition, DSM indicated it expected to deliver at least a mid-single digit increase in adjusted EBITDA for 2020, which is unchanged.

Geraldine Matchett and Dimitri de Vreeze, co-CEOs, said: "The first nine months of 2020 were impacted by the COVID-19 pandemic, with Nutrition overall performing well in this environment and materials significantly affected. During this period, we have taken timely actions to protect profitability and cash flow generation while we continued to execute our long term strategy. We closed two acquisitions in Nutrition, including the Erber Group in October, and announced the divestment of our Resins and Functional Materials businesses."

They continued, "Our businesses performed in line with our expectations for the third quarter, as we set out in early August. Conditions were overall good in Nutrition, with momentum in Materials improving. With a surge of COVID-19 cases in recent weeks impacting near term visibility, we remain vigilant and focused on the health and safety of our employees. We thank them for their commitment and for ensuring continued security of supply to our customers."