Dsm-firmenich posts Q3 results slightly above expectations, raises growth outlook

Kering SA

Today 06:38

Nov 4 (Reuters) - Dsm-firmenich DSFIR.AS reported third-quarter core profit a touch above market expectations on Wednesday, citing more contract wins, and raised its full-year growth outlook.
As a supplier to consumer goods, food and nutrition companies, including fragrance makers owned by LVMH LVMH.PA and Kering PRTP.PA, the company is seen as a barometer for demand, pricing and customer buying patterns across global markets.
Quarterly adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were €482 million ($541.29 million), slightly above the company-provided consensus of €478 million 
It now forecasts full-year growth of around 5%, up from previous 2-4%
Sales rose to €2.37 billion in the quarter, compared with a consensus forecast of €2.36 billion, while like-for-like sales increased 5%, against expectations for 4.7% growth
Perfumery & Beauty recorded like-for-like sales growth of 8%, compared with the 5.5% expected by analysts
"Moving into the fourth quarter, business conditions remain supportive," CEO Dimitri de Vreeze said in a press release
     
($1 = 0.8905 euros)

(Reporting by Vera Dvorakova and Lucie Barbier in Gdansk; editing by Izabela Niemiec)
((vera.dvorakova@thomsonreuters.com))