Chemicals maker DSM slips on guidance cut

Koninklijke DSM NV

01/11/2022 08:15

** Shares in DSM  DSMN.AS  fall 2.5%, paring earlier losses
of over 5%, after Dutch specialty chemicals maker cut its FY
outlook
    ** It now sees EBITDA from continuing operations growing at
a low-single-digit percentage rate, compared to
high-single-digits previously
    ** Q3 sales of 2.18 billion euros ($2.17 billion) came in
slightly above consensus, and adj. EBITDA of 356 million euros
marginally below
    ** J.P.Morgan says the results are broadly in line but notes
that DSM's Q4 guidance is likely weaker than investors had
expected
    ** KBC analysts point out that the estimated 350 million
euros adjusted EBITDA synergies after DSM merger with  Firmenich
should support earnings momentum in the coming years
    ** The stock sits at the bottom of Amsterdam's  .AEX  index
which rises 0.8%
($1 = 1.0058 euros)
 (Reporting by Dagmarah Mackos)
 ((dagmarah.mackos@tr.com))