Top-News

Einmalige Chance! Neue Kursrakete – Deutsche Aktie im Höhenflug(Anzeige)

Donnerstag, 16.02.2023 01:00 von PR Newswire | Aufrufe: 190

DSM reports 2022 results

Wirtschaftsnachrichten (Symbolbild) ©unsplash.com

PR Newswire

HEERLEN, Netherlands, Feb. 16, 2023

HEERLEN, Netherlands, Feb. 16, 2023 /PRNewswire/ --

Highlights^1,2

Continuing Operations:

Health, Nutrition & Bioscience delivered solid full year results with sales up 16%, organic sales up 8% and Adjusted EBITDA up 2%

Animal Nutrition & Health: organic sales +6%
Health Nutrition & Care: organic sales +9%
Food & Beverages: organic sales +10%

Adjusted net profit of €555m
Adjusted Net Operating Free Cash Flow of €310m

Total Group:

Net profit of €1,715m, including gain on disposal of DSM Protective Materials
Good progress on environmental targets following further step-up in ESG ambitions

Key figures – Continuing Operations

in € million

Full year
2022

ARIVA.DE Börsen-Geflüster

Kurse

BNY Mellon Strategic Municipal Bond Fund Inc

5,88 $

-0,17%

BNY Mellon Strategic Municipal Bond Fund Inc Chart

Koninklijke DSM

43,10 $

0,00%

Koninklijke DSM ADR

0,00%

Full year
2021

% Change

Volume

Price/mix

Other

Sales

8,390

7,269

15 %

0 %

7 %

1 %

HNB

8,319

7,166

16 %

1 %

7 %

1 %

ANH

3,788

3,347

13 %

-1 %

7 %

0 %

HNC

2,939

2,516

17 %

2 %

7 %

8 %

0 %

F&B

1,546

1,256

23 %

3 %

7 %

5 %

8 %

Adjusted EBITDA

1,395

1,379

1 %

HNB

1,490

1,467

2 %

Corporate

-95

-88

Adjusted EBITDA margin

16.6 %

19.0 %

HNB

17.9 %

20.5 %

¹ Continuing Operations reflects the results of DSM's Health, Nutrition & Bioscience and Corporate Activities as of 1 January 2022. DSM's Materials businesses have been reclassified to Discontinued Operations effective as of 1 January 2022

² Adjusted EBITDA is an Alternative Performance Measure (APM) that reflects results from usual operations. Organic sales growth is the total impact of volume and price/mix.

Co-CEOs statement

Geraldine Matchett and Dimitri de Vreeze, Co-CEOs, commented: "DSM delivered a solid performance in 2022 against a background of continued global supply chain challenges and significantly higher energy and raw materials costs, consolidating the strong growth of 2021. Pricing actions to counter higher costs, supported top-line growth, however with a price-cost gap impacting near-term margins, especially in Animal, Nutrition & Health.

The fourth quarter saw overall continued resilient demand but also high raw materials costs, lower prices of some vitamins and customer de-stocking. These conditions have continued into 2023. We are navigating this near-term market volatility through ongoing pricing actions to mitigate residual inflation, reducing inventories and by focusing on operational costs. Given the positive structural long-term drivers of our business, underpinned by our strong pipeline of innovations, we confirm the mid-term targets for DSM.

We are pleased to have received overwhelming shareholder approval for the merger with Firmenich that will establish the leading creation and innovation partner in nutrition, beauty and well-being. With the integration plan in place, we now enter the final phase of the merger process and remind our shareholders to actively tender their shares in exchange for DSM-Firmenich shares."

Outlook full year 2023

Given the proposed merger process is advanced, it is intended that DSM-Firmenich will provide an outlook for 2023 once DSM and Firmenich have been consolidated and the combined business plan is approved.

Reporting changes in 2022

DSM became a Health, Nutrition & Bioscience ('HNB') company, organized, as of January 1, 2022, in three business groups: Animal Nutrition & Health; Health, Nutrition & Care; and Food & Beverage. Continuing Operations reflects the results of these three HNB businesses and Corporate Activities.

DSM has reclassified the Materials businesses as assets held for sale and presented them as Discontinued Operations in the Income Statement:

On September 1, 2022, DSM completed the sale of its Protective Materials business to Avient Corporation for an Enterprise Value of €1.44 billion. DSM has received €1.363 billion net in cash. DSM recorded a book profit of around €1.018 billion.
On May 31, 2022 DSM announced that it had reached an agreement to sell its Engineering Materials business to Advent International and LANXESS for an Enterprise Value of €3.85 billion. DSM expects to receive about €3.5 billion net in cash following closing, after transaction costs and capital gains tax. The transaction is ready for closing which is planned to take place no later than the beginning of April 2023.

DSM-Firmenich merger of equals

On May 31, 2022, DSM and Firmenich announced that they entered into a business combination agreement to establish through a merger of equals the leading creation and innovation partner in nutrition, beauty and well-being, DSM-Firmenich.

On November 22, 2022, DSM-Firmenich published the Offering Circular in relation to (i) the Exchange Offer pursuant to which eligible DSM shareholders are able to exchange their DSM ordinary shares for DSM-Firmenich ordinary shares, and (ii) the admission to listing and trading of DSM-Firmenich ordinary shares on Euronext Amsterdam.

On January 23, 2023, the Extraordinary General Meeting of DSM shareholders approved the transaction with an overwhelming majority of 99.86%.

DSM shareholders located outside the U.S., as well as DSM shareholders within the U.S. who are "qualified institutional buyers" as such term is defined under the U.S. Securities Act of 1933, are invited to tender their DSM ordinary shares in exchange for DSM-Firmenich ordinary shares under the Exchange Offer. The acceptance period during which eligible DSM shareholders can offer their DSM ordinary shares in exchange for DSM-Firmenich ordinary shares runs until at least 17.40 CET on March 7, 2023 and no later than 17.40 CET on April 11, 2023, depending on obtaining regulatory clearances as specified in the press release of 23 January 2023.

If, at the end of the acceptance period, all Transaction Conditions have been satisfied and DSM-Firmenich has accepted the tendered DSM ordinary shares unconditionally, DSM's eligible shareholders will receive DSM-Firmenich ordinary shares on the basis of a 1:1 exchange ratio. The DSM-Firmenich ordinary shares will be listed on Euronext Amsterdam and will trade on an as-if-and-when-delivered basis as from the date on which DSM-Firmenich declares the Exchange Offer unconditional.

Subsequently, the shares in the capital of Firmenich will be contributed to DSM-Firmenich in exchange for DSM-Firmenich ordinary shares and an amount of EUR 3.5 billion cash (subject to potential adjustment).

If DSM-Firmenich does not acquire 100% of the DSM ordinary shares through the Exchange Offer, DSM-Firmenich may choose to implement the Buy-Out (if at least 95% of the DSM ordinary shares are acquired by DSM-Firmenich through the Exchange Offer) or the Post-Offer Merger and Liquidation (if at least 80% of the DSM ordinary shares are acquired by DSM-Firmenich through the Exchange offer). As a result, DSM-Firmenich will own all outstanding DSM ordinary shares and the DSM shareholders who did not tender, or were not eligible to tender their shares under the Exchange Offer will receive a cash payment (in case of the Buy-Out) or, eventually, DSM-Firmenich ordinary shares (in case of the Post-Offer Merger and Liquidation).

All information on the Exchange Offer and the merger of equals can be found at www.creator-innovator.com, subject to certain geographic restrictions on circulation of the Offering Circular set forth below under "General restrictions" and "United States of America". DSM shareholders are urged to read all legal information, including the Offering Circular, relating to the Exchange Offer which can be found on that website. Terms used but not defined relating to the Exchange Offer have the same meaning as defined in the Offering Circular.

The distribution of the Offering Circular and/or the making of the Exchange Offer in jurisdictions other than the Netherlands may be restricted and/or prohibited by law. Please refer to the sections "General restrictions" and "United States of America" below for more details.

Dividend 2022

An interim dividend for the year 2022 of €0.93 per ordinary share was recognized as a liability in the second quarter of 2022. The total distribution amounted to €161m. This interim dividend was paid as from 26 August 2022 in cash after deduction of 15% Dutch dividend withholding tax.

Upon a successful completion of the merger transaction between DSM and Firmenich, DSM-Firmenich intends to offer a gross dividend to all DSM-Firmenich shareholders of in total €423m which is almost €1.60 per share as described in the Offering Circular. Subject to the General Meeting of DSM-Firmenich resolving to pay this dividend, eligible DSM shareholders who tender their DSM ordinary shares for DSM-Firmenich ordinary shares will receive a total dividend of about €2.53 over 2022 (vs €2.50 over 2021).

Sustainability

In line with DSM's long-term purpose-led, performance-driven strategy, DSM aims to create value for all stakeholders through the focused development of scientific innovation and application of a growing portfolio of solutions that positively impact people and the planet.

Planet targets progress

DSM routinely evaluates what it can do to go further and faster toward building a resilient business with a minimal environmental footprint. Consequently, the company increased its target for cutting greenhouse gas emissions from its operations (scope 1 and 2) for the second successive year. The new target of an absolute reduction of 59% from 2016 levels by 2030 has been independently validated by the Science Based Targets initiative as aligning with limiting global warming to 1.5°C. This is possible because of DSM's rapid action, including switching to renewable energy, where DSM now targets purchasing 100% of its electricity needs worldwide from renewable sources by 2030. This, and accelerated progress in reducing value chain (scope 3) emissions along with partners, provides the foundation for DSM's net-zero by 2050 commitment. These efforts have again been acknowledged by CDP, a leading evaluator of corporate environmental disclosure, which awarded the company's climate change strategy and water stewardship A ratings, making DSM one of only a handful of companies in its sector worldwide to achieve such recognition.

Mehr Nachrichten zur Koninklijke DSM Aktie kostenlos abonnieren

E-Mail-Adresse

Benachrichtigungen von ARIVA.DE
(Mit der Bestellung akzeptierst du die Datenschutzhinweise)

Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte.