DSM reports strong Q2 results with solid growth
Q2 EBITDA from continuing operations 339 million, above both Q2 2010 and Q1 2011
Strong Life Sciences results driven by robust growth in Nutrition
Very solid results in Materials Sciences due to pricing strength and volume growth
Martek integration on track; excellent Q2 EBITDA performance
EPS more than doubled, reflecting strong operating results, lower tax rate and one-off gains
Interim dividend of 0.45 (+12.5%) representing one third of total dividend for 2010
2011 is expected to be a strong year; good progress towards achieving the 2013 targets
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: This has been another strong quarter for DSM with continued progress compared to the first quarter and the same period last year reflecting the strength of our businesses. These results include a positive contribution from Martek but also the negative impact of currency effects and higher raw material and energy costs.
Whilst general economic forecasts for the year continue to be positive, there are increased uncertainties related to the global economy. However, we believe we are well positioned with our balanced, relatively resilient portfolio in health, nutrition and materials, and with our broad geographic footprint, strong technology and leading market positions. This, in combination with our focus on customers and innovation and our ongoing efficiency improvements, gives us confidence that 2011 will be a strong year for DSM with good progress towards achieving the 2013 targets.
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