DSM-Firmenich increases sales and earnings after nine months
Published: Thursday, Oct 31st 2024, 09:20
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The flavors and fragrances group DSM-Firmenich grew in the first nine months of 2024. The outlook for the year as a whole has now been raised again.
From January to September, sales increased by 4 percent on a pro forma basis to 9.54 billion euros, as the company announced on Thursday. DSM from the Netherlands and Firmenich from Geneva merged in mid-2023.
The operating result (adjusted EBITDA) even rose by 13% to EUR 1.52 billion, with the margin improving accordingly to 15.9%. This is 1.4 percentage points more than in the previous year on a pro forma basis.
Good synergies have been achieved from the merger and the ongoing focus of the vitamins business on high-growth and high-margin segments is also showing positive effects, the company explained. And the separation from the animal nutrition and animal health business is also making good progress.
Thanks to a supply disruption on the vitamin market, DSM-Firmenich can even raise its forecast for the current year. The resulting increase in some vitamin prices will lead to an extraordinary profit of around 80 million euros in the last quarter of the year.
DSM-Firmenich therefore now expects an operating profit of 2.1 billion euros in 2024. Previously, the company had forecast a surplus of around 2.0 billion. This is the second forecast increase in the current year.
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