DSM provides Q1 2023 trading update

Highlights1,2 Highlights 1,2 Continuing Operations: Key figures - Continuing Operations Co-CEOs statement Geraldine MatchettandDimitri de Vreeze, Co-CEOs commented: "Our first quarter results are reported against a comparable period that had not yet been impacted by the high rate of global inflation, the effects of which remained elevated into 2023. Low vitamin prices, especially vitamin A, have also remained, despite resilient end-user demand. In this environment our...

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Netherlands, 02/05/2023 (informazione.news - comunicati stampa - cibi e bevande)

Highlights^1,2

Continuing Operations:

Key figures - Continuing Operations

Co-CEOs statement

Geraldine Matchett and Dimitri de Vreeze, Co-CEOs commented: "Our first quarter results are reported against a comparable period that had not yet been impacted by the high rate of global inflation, the effects of which remained elevated into 2023. Low vitamin prices, especially vitamin A, have also remained, despite resilient end-user demand. In this environment our focus across businesses remains on pricing actions and prioritising profitability over sales volumes. This approach has supported our margins, which improved sequentially into the first quarter of this year.

We do not foresee a significant improvement in these conditions in the second quarter. However, we anticipate a stronger second half of the year across all businesses as inflationary pressure eases, as volumes recover, especially in China, and vitamin prices start to normalize.

Looking to the future, we are very pleased at the overwhelmingly positive response to the exchange of DSM shares for DSM-Firmenich shares. DSM-Firmenich stock has been trading on Euronext Amsterdam as of 18 April and with the contribution of Firmenich on 8 May, we will have completed our merger, creating the leading global creation and innovation partner in nutrition, health, and beauty."

Outlook 2023

With the imminent completion of the merger, once DSM and Firmenich's activities have been consolidated and the combined business plan approved by the DSM-Firmenich Board, it is intended that DSM-Firmenich will provide an outlook for the remainder of 2023 at the publication of its Half Year results on 2 August 2023.

Note to editors: The full press release is available on the company website here.