DSM releases first quarter results.
Highlights:DSM releases first quarter results.
Highlights:
• Q1 EBITDA from continuing operations €306 million (Q1 2011: €325 million)
• Strong results in Life Sciences due #
• Q1 EBITDA from continuing operations €306 million (Q1 2011: €325 million)
• Strong results in Life Sciences due to continued growth in Nutrition
• Materials Sciences showed strong improvement compared to Q4 2011
• Joint venture with POET established to unlock the advanced biofuels opportunity
• Recently announced planned tender offer to acquire Kensey Nash to establish DSM Biomedical as new profitable growth platform
• Cautiously optimistic outlook, on the way to achieve 2013 targets
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: “In a challenging business environment, DSM continued to make good progress in Q1 and the robust results represent a positive start to 2012. In Life Sciences, Nutrition continued to deliver excellent performance despite the currency headwinds, benefiting from the acquisition of Martek and continued organic growth. Materials Sciences delivered an improved performance compared to the previous quarter in Performance Materials and another good result in Polymer Intermediates."
“We continue to make important steps in the execution of our strategy. During the quarter we established the joint venture with US based POET, one of the world's largest bio-ethanol producers, to unlock the exciting potential of advanced cellulosic biofuels. Last week we announced the execution of a Merger Agreement with Kensey Nash and planned tender offer, which will put DSM Biomedical clearly on the map as the second new growth platform for DSM in addition to our Bio-based Products & Services business."
“DSM has successfully transformed itself into a Life Sciences and Materials Sciences company. Our attractive portfolio in health, nutrition and materials together with our broad geographic spread with a significant presence in high growth economies and our very strong balance sheet has positioned us well to deliver shareholder value with stronger, more stable growth and profitability. We remain cautiously optimistic for 2012 despite the uncertain macro-economic situation.”
DSM
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