DSM improves 2017 outlook as it ‘outpaces the market’

By Niamh Michail contact

- Last updated on GMT

© iStock/patpitchaya
© iStock/patpitchaya

Related tags: Remainder

DSM saw a 42% increase in net profit in the first half of 2017 and has revised upwards its outlook for the rest of the year. “We are outpacing the market,” says CEO Feike Sijbesma.

The Dutch supplier reported an 11% increase in overall sales, which rose to €4.3m, 8% of which came from organic growth.

Its adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) was up 15% to hit €376m.

A 'very strong' H1

Its CEO and chair of the managing board, Feike Sijbesma, said the supplier was “well ahead​" of its targets for the year so far.

“We are well ahead of our targets. All businesses are delivering on their growth initiatives, helping us outpace the market; we increasingly provide our customers with innovative solutions, resulting in a continued shift toward specialties.

“Furthermore, we are fully on track with our wide-ranging cost-reduction and efficiency improvement programs, while anchoring the high-performance culture we strive for.”

Its nutrition segment also saw a 4% rise in sales growth, equating to a 14% increase in EBITDA, while the materials division also saw a 4% rise.

The Euronext-listed firm said it would be continue to be mindful of the volatile macro-economic environment and the higher-base results achieved since 2015, but it was confident for the remainder of the year and increased its outlook for the full year accordingly.

At this year’s IFT show, FoodNavigator caught up with the director of stevia and its sugar reduction platform, Luiz Leite, who spoke about the company’s ambitions to be first to bring fermented stevia to European consumers with its request for a scientific opinion from the European Food Safety Authority. Watch our video interview here​.

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