Royal DSM: DSM provides Q1 2022 trading update

HEERLEN, Netherlands, May 3, 2022 /PRNewswire/ --

Highlights¹

• DSM delivered a good first quarter
• Group sales +18% and Adjusted EBITDA +10%
• Health, Nutrition & Bioscience: Sales +16%, organic sales +9%, Adjusted EBITDA +9%
• Materials: Sales +25%, organic sales +21%, Adjusted EBITDA +11%
• Full Year outlook 2022 unchanged

Key figures ²

in € million	Q1 2022	Q1 2021	% Change	Volume	Price/mix	FX	Other
Sales	2,590	2,194	18%	2%	10%	5%	1%
HNB	1,987	1,711	16%	3%	6%	5%	2%
ANH	881	778	13%	-3%	11%	5%	0%
HNC	726	625	16%	8%	3%	5%	0%
F&B	362	296	22%	7%	3%	3%	9%
Materials	582	467	25%	-4%	25%	4%	0%
Adjusted EBITDA	487	441	10%
HNB	391	359	9%
Materials	120	108	11%
Corporate	-24	-26
EBITDA	466	425
Adjusted EBITDA margin	18.8%	20.1%

Co-CEOs statement
Geraldine Matchett and Dimitri de Vreeze, Co-CEOs, commented: "DSM had a good start to the year with robust demand across our businesses and effective pricing measures to counteract inflation throughout the value chain. Despite the ongoing global logistics and supply chain challenges, the excellence of our people and our operations ensured we were able to continue to satisfy our customers' needs. While we see ongoing volatility, resilient demand for our innovative and sustainability-focused solutions, together with our ability to drive effective pricing, leads us to reiterate our full year outlook."

Outlook 2022
DSM's outlook for the full year is unchanged. DSM expects its Health, Nutrition & Bioscience activities to deliver a high-single digit Adjusted EBITDA increase. For the Group, it expects a mid-single digit Adjusted EBITDA increase, with a high-single Adjusted Net Operating Free Cash Flow increase. This outlook is based on DSM's expectation of a stable Adjusted EBITDA in Materials following the strong performance in 2021.

¹ Adjusted EBITDA is an Alternative Performance Measure (APM) that reflects results from usual operations. Organic sales growth is the total impact of volume and price/mix. Adjusted Net Operating Free Cash Flow is the cash flow from operating activities, corrected for the cash flow of the APM adjustments, minus the cash flow of capital expenditures and drawing rights.
² DSM's Health, Nutrition & Bioscience structure became effective as of 1 January 2022. It consists of three businesses: Animal Nutrition and Health (ANH), Health, Nutrition and Care (HNC) and Food & Beverage (F&B). The preliminary comparative financial figures for 2021 were released in April 2022.

Note for editors: For the full text of the press release, see the enclosed pdf or click here.

Financial calendar

10 May 2022	Annual General Meeting of Shareholders
2 August 2022	Publication of the half year results of 2022
6 September 2022	Investor Day
1 November 2022	Publication of the trading update first nine months of 2022

Contact information

DSM Media Relations Gareth Mead tel. [phone] email [e-mail]

DSM Investor Relations Dave Huizing tel. [phone] email [e-mail]

DSM

Royal DSM is a global, purpose-led company in Health, Nutrition & Bioscience, applying science to improve the health of people, animals and the planet. DSM's purpose is to create brighter lives for all. DSM's products and solutions address some of the world's biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders - customers, employees, shareholders, and society at large. The company was founded in 1902 and is listed on Euronext Amsterdam. More information can be found at www.dsm.com.

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Forward-looking statements

This press release may contain forward-looking statements with respect to DSM's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of DSM and information currently available to the company. DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. DSM has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading.

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