Off the wire
• China, Algeria pledge closer partnership  • Bangladeshis discouraged to visit Nepal  • Bosch looks to connectivity for further growth  • New Balance loses China trademark case  • Saudi allows women to join in 2015 municipal elections  • Russia's Progress spacecraft in uncontrolled descent  • Somali security ministry warns of possible Al-Shabaab attacks in Mogadishu  • 1st LD: U.S. economy almost stalls in Q1  • 5,100 caught for online prostitution, gambling, guns deal  • China to promote cleaner heating to fight smog  
You are here: 　 Home

Life sciences company DSM suffers net loss in Q1

Xinhua, April 29, 2015 Adjust font size:

DSM suffered a decrease of income in the first quarter of 2015, the Dutch multinational life and material sciences company announced on Wednesday.

The total net profit after exceptional items dropped from 81 million euros (89 million U.S. dollars) in the first quarter of 2014 to a net loss of 70 million euros in the same period this year, mainly caused by low prices in vitamin E and weak performance in human nutrition.

The total sales increased by 11 percent, including 2 percent organic sales growth, from 1.692 billion euros in Q1 of 2014 to 1.886 billion euros in the first three months of this year due to 3 percent higher volumes, 1 percent lower prices and 9 percent foreign exchange effects. EBITDA went up by 4 percent in the first quarter of 2015 to 248 million euros (Q1 2014: 239 million euros).

"DSM delivered higher results in Q1 2015 compared to prior year, driven by higher volumes in both Nutrition and Performance Materials," DSM' CEO Feike Sijbesma commented in a press release.

"Nutrition delivered mixed results with good volume growth in animal nutrition, partly offset by the low prices in vitamin E and the weak performance in human nutrition," he added. "Performance Materials had another strong quarter with higher volumes and margins. The mix of foreign currencies had an overall positive impact on both clusters."

"DSM aims to deliver an EBITDA in 2015 ahead of 2014, the increase mainly driven by positive foreign exchange effects," the CEO concluded. Endit