Report
DSM Firmenich - Results in line with CSS, but better quality
Q1-24 sales and EBITDA were in line with CSS and exceeding our estimate. However, the return of volume growth and nice beat in high valued segments Perfumery & Beauty and Taste Texture & Beyond should be positively received. We reiterate our Buy rating and lift our TP from EUR 120 to EUR 129.
Underlying
KONINKLIJKE DSM N.V.
Provider
Degroof Petercam
We are an investment house with Belgian roots founded on more than 150 years of trust.
As a private company owned by long-term committed shareholders, we are independent. Naturally and structurally. Our experts have the knowledge to think and act without bias, and to make decisions that benefit our clients. Today and tomorrow.
Fernand de Boer
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