DSM : 1Q23 preview: vitamin A remaining tough
>Vitamin A continuing its slide in 1Q23: stock levels very low within animal - Vitamin (A) prices continued to drop during 1Q23, which further pressured the animal business, where we expect the negative quarterly effect on adj. EBITDA to likely increase to € 35m in 1Q23 (vs. -€ 25m in 4Q22). We foresee destocking (except for vitamin A) no longer to be a theme for the animal business from here, and regarding human, mostly linked to VMS (vitamins, minerals, supplements)...Royal DSM is engaged in the creation of products and services in Life Sciences and Materials Sciences. Co.'s products and services are used globally in range of markets and applications in healthcare, pharmaceutical automotive and chemicals sectors. End markets include human and animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrics and electronics, life protection and housing. The activities of Co. are grouped into four clusters: Nutrition, Pharma, Performance Materials and Polymer Intermediates.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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