Dutch DSM Q1 net profit rises 28%, net sales grow 5%

27 April 2011 07:00  [Source: ICIS news]

SINGAPORE (ICIS)--Dutch specialty chemicals producer DSM said on Wednesday its first-quarter net profit jumped 28% year on year to €166m ($244m), with the acquisition of Martek Biosciences Corp contributing positively to earnings.

Net sales for the quarter increased 5% year on year to €2.35bn, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 4% to €348m, it said.

Martek added €37m to sales in its nutrition business, DSM said.

“The integration of Martek started immediately and the contribution to our profit is in line with expectations. Our business outlook for the rest of the year is positive and we expect 2011 to be a strong year for DSM,” said DSM CEO and Chairman Feike Sijbesma.

DSM said that 2011 will be a “strong year” for the company, expressing confidence that it will meet its EBITDA target of €1.4bn-1.6bn in 2013.

($1 = €0.68)

By: Pearl Bantillo
+65 6780 4359

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