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)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|