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DSM reports strong Q3 against deteriorating market conditions
30 October 2008
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DSM's operating profit from continuing operations in Q3 (EUR 267 million [$340 million]) was below the result in the second quarter, which was DSM's best ever quarter, and 27% better than the comparable quarter in last year.
The main drivers behind this strength were the performance of the nutrition cluster and continued high fertilizer prices.
However, DSM's performance materials and polymer intermediates clusters and some businesses in base chemicals and materials increasingly experienced economic weakness, particularly towards the end of the quarter, due to their exposure to more affected end markets, such as automotive, building and construction, coatings and electrics and electronics.
In nutrition, DSM's focus on differentiation and innovation in combination with structural changes in the vitamins industry has resulted in significantly higher prices and profitability.
Volume growth in nutrition was restrained in Q3, reflecting DSM's policy to prioritize value over volume, together with a certain amount of general de-stocking in the industry during the quarter.
The main drivers behind this strength were the performance of the nutrition cluster and continued high fertilizer prices.
However, DSM's performance materials and polymer intermediates clusters and some businesses in base chemicals and materials increasingly experienced economic weakness, particularly towards the end of the quarter, due to their exposure to more affected end markets, such as automotive, building and construction, coatings and electrics and electronics.
In nutrition, DSM's focus on differentiation and innovation in combination with structural changes in the vitamins industry has resulted in significantly higher prices and profitability.
Volume growth in nutrition was restrained in Q3, reflecting DSM's policy to prioritize value over volume, together with a certain amount of general de-stocking in the industry during the quarter.
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