Business

DSM gains more turnover mainly through higher prices itself

Photo: ANP

DSM increased its turnover in the first half of the year. The specialty chemicals company that focuses on supplements and ingredients for food was largely due to higher sales prices, because the company sold only slightly more in terms of volume. Exchange rate effects were also favorable for the Limburg company. Sales in areas outside Europe were more profitable for the company because the euro was relatively cheap.

DSM still suffered from disruptions in the supply chains and corona lockdowns in China. These also influenced consumer demand in that country and affected DSM indirectly. The product delivery situation did improve during the second quarter and DSM saw good sales volume and high prices at the start of the third quarter.

In the end, turnover was 17 percent higher than in the first six months of 2021 at 4.1 billion euros. The net profit amounted to 458 million euros. DSM’s forecast for the full year remained unchanged.

Top executives Geraldine Matchett and Dimitri de Vreeze speak of a good six months, but pay particular attention to the turn that DSM is making. In recent months, the company announced a merger with Swiss peer Firmenich and sold its materials division.

DSM also announced its intention to become CO2 neutral more quickly. For example, the company wants to obtain all its electricity from sustainable sources by 2030, which was previously aimed at 75 percent. This also leads to stricter emissions targets, but that is still being worked on. For the emissions by users of its products, DSM is now aiming for an absolute CO2 reduction instead of one that is linked to the amount of products it sells.



DSM gains more turnover mainly through higher prices itself
Source link DSM gains more turnover mainly through higher prices itself

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