DSM 1Q Ebitda +19%; Backs 2016 Guidance
April 26 2016 - 2:02AM
Dow Jones News
By Ian Walker
Dutch nutrition and health company Koninklijke DSM N.V. (DSM.AE)
Tuesday reported a 19% rise in first quarter earnings before
interest, taxes, depreciation and amortization, and backed its
full-year guidance.
The global science-based company active in health, nutrition and
materials, said it aims to deliver increased full-year Ebitda and
return of capital employed in line with the targets set out in its
'Strategy 2018'.
For the quarter ended March 31 DSM reported Ebitda of 296
million euros ($333.3 million), compared with EUR248 million in the
same period a year earlier, on sales of EUR1.91 billion and EUR1.89
billion respectively.
"We are pleased to report that we delivered a strong first
quarter in terms of growth, profitability and returns, with all
businesses seeing the effects of our improvement programs," Chief
Executive and Chairman Feike Sijbesma said.
"While the macro-economic environment remains uncertain, we are
confident that we will deliver in line with our medium-term goals,"
he added.
Last November, the company said it plans to focus on improving
its financial results through organic growth, reducing costs and
strict capital allocation. It set a target of EUR250 million to
EUR300 million in cost savings by the end of 2018.
Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749
(END) Dow Jones Newswires
April 26, 2016 01:47 ET (05:47 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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