02 May 2013 06:51 [Source: ICIS news]
SINGAPORE (ICIS)--DSM’s first-quarter net profit fell 18% year on year to €119m ($157m) despite higher sales, as earnings from its polymer intermediates segment slumped 58%, the Dutch chemicals firm said on Thursday.
Sales for the three months to March 2013 were up 4% year on year to €2.38bn, with earnings before interest, tax, depreciation and amortisation (EBITDA) rising 2% to €311m, the company said in a statement.
Its polymer intermediates business, generated €29m EBITDA for the period, down by 58% year on year “mainly due to lower caprolactam prices and substantially higher benzene prices”, DSM said.
The company’s performance materials division, meanwhile, had a 1% increase in earnings to €80m, DSM said.
($1 = €0.76)
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