06 August 2013 06:46 [Source: ICIS news]
SINGAPORE (ICIS)--DSM’s second-quarter net profit surged to €112m ($149m) from €41m in the same period last year, backed by a 9% increase in net sales, the Dutch specialty chemicals firm said on Tuesday.
Net sales for the three months ending June 2013 increased to €2.49bn from €2.27bn in the previous corresponding period, the company said in a statement.
DSM’s core net profit for the quarter grew 32% year on year to €156m, it said.
“Materials Sciences' profit remained at the same level as last year despite a negative caprolactam impact of €20m and a challenging market environment," DSM CEO and chairman Feike Sijbesma said in the statement.
Earnings before interest, tax, depreciation and amortisation (EBITDA) in the June quarter 2013 rose 19% year on year to €345m, about 72% of which came from DSM’s nutrition segment, it said.
Its nutrition business generated €249m in earnings, up 28% year on year, while performance materials had a 6% increase in earnings at €82m in the three months to June 2013.
From polymer intermediates, second-quarter earnings fell 13% to €26m, while pharmaceuticals’ earnings declined 18% to €14m, the company said.
“We expect strong EBITDA growth in 2013, moving towards €1.4bn," Sijbesma said.
($1 = €0.75)
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