DSM has reported a one percent year-on-year uplift in sales Q1 to €1.9 billion ($2.14 billion) helped by demand for food enzymes.
The world’s largest vitamin maker reported that EBITDA (earnings before interest, tax, depreciation and amortisation) was up 19 percent to €296 million ($334 million) in Q1.
Feike Sijbesma, chief executive of DSM, said: “We are pleased to report that we delivered a strong first quarter in terms of growth profitability and returns, with all businesses seeing the effects of our improvement programs.”
“Both Animal and Human Nutrition delivered above-market volume growth with Human Nutrition showing a marked improved albeit against a relatively weak comparable quarter in 2015.”
“While the macro-economic environment remain uncertain, we are confident that we will deliver in line with our medium-term goals. This will be supported by innovation, our growth initiatives and underpinned by our group-wide cost and productivity improvement programs.”
DSM reported eight percent growth across Human Nutrition, although this was helped by favorable comparisons with the year previous. Higher-value products made a strong contribution.
Overall Food & Beverage performed well, despite weak market conditions in the US.
Dietary supplements show improved sales of fish oil and multi vitamin-based supplements. Infant Nutrition performed well amid a healthy market.
Its Food Specialities unit delivered a four percent organic growth in Q1 powered by food enzymes and hydrocolloids.
Overall nutrition, including animal nutrition reported sales of €1.25 billion ($1.4 billion) in the QI.
DSM is making a big play in China, one of its fastest-growing markets.
Last year, it finalizes the purchase of Aland, a Hong Kong-based vitamin C manufacturer, further strengthening its position in the market.
