Improved results for third quarter
Royal DSM today reported third quarter 2014 EBITDA from continuing operations of €315 million compared to €293 million in Q2 2014 and €331 million in Q3 2013.
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said:
In nutrition DSM delivered an increase in result compared to the previous three quarters, although challenges in some human nutrition end-markets remain and pricing pressure, particularly in vitamin E, intensified in the latter part of the third quarter.
Human nutrition & health net sales were €406 million in Q3 2014 in line with Q2 2014. Organic sales development was negative at -2% compared to Q3 2013 owing to lower volumes.
Volumes were impacted by lower vitamins and fish-oil based Omega-3 sales for dietary supplements in the US. Sales in infant nutrition continued to be affected by destocking.
Although western food & beverage markets remained sluggish, markets in high growth economies continued to develop well. Demand for premixes stayed healthy. The momentum for dietary supplements outside the US was positive and demand for DSM’s consumer business i-Health remained robust.