DSM's confirmed guidance, profit taking weigh on shares
02/08/2022 12:44
** Shares in DSM DSMN.AS drop 2.3% after the Dutch
specialty chemicals maker reiterates FY guidance
** "My guess is the market was hoping for a guidance
upgrade," Morningstar analyst Rob Hales says
** He points to raised 2022 forecasts by peers Symrise
SY1G.DE and Croda CRDA.L urn:newsml:reuters.com:*:nL8N2ZE159 urn:newsml:reuters.com:*:nL4N2ZA1N5
** DSM confirms its target for high-single-digit adjusted
EBITDA growth from continuing operations urn:newsml:reuters.com:*:nL8N2ZE0UE
** "I suspect some profit taking is at work here," Berenberg
analyst Sebastian Bray says
** "EBITDA was robust, but free cash flow lacklustre and
shares had rallied before results," he adds
** DSM posted Q2 adjusted EBITDA of EUR 379 million ($387.8
million), above consensus estimate of EUR 375 million
** The stock is down around 24% YTD
($1 = 0.9772 euros)
(Reporting by Juliette Portala)
((juliette.portala@tr.com))