DSM falls as Q1 results miss forecasts amid weak volumes

Koninklijke DSM NV

02/05/2023 08:19

** Shares in DSM  DSMN.AS  fall around 2% after the Dutch
chemicals maker reported Q1 core profit and sales below market
expectations
    ** The group posts Q1 adjusted EBITDA of 278 million euros
($305.7 million), down 24% y/y and below analysts' estimate of
280 million euros
    ** J.P.Morgan points to "weak" results with volume weakness
more broad-based across divisions than it had expected
    ** The decrease is due to "customer destocking and the
company's preference of profitability over low-priced volumes in
all sub-segments", the broker says​
    ** The DSM stock is on track for its worst day since March
24
    ** Including Tuesday's fall, the stock has gained 1.8% YTD
    ** DSM, which is set to merge with Firmenich next Monday,
reported quarterly results separately for the last time
    ** The combined DSM-Firmenich  DSFIR.AS  listing falls 2%

($1 = 0.9093 euros)

 (Reporting by Augustin Turpin)
 ((augustin.turpin@thomsonreuters.com))