DSM : 4Q20 EBITDA 4% beat; expect 2021 consensus +1-2%
>4Q20 adjusted EBITDA 4% ahead of consensus - DSM reported slightly better than expected 4Q20 results. Sales of EUR 2,080m were up 8% yoy and 5% ahead of consensus (Vara). Volumes were up 9%, while price/mix was down 1%. Adjusted EBITDA of EUR 390m was up 5% yoy and 4% ahead of consensus. Nutrition revenues were up 6% yoy at EUR 1,546m, in line with consensus. Adjusted EBITDA of EUR 328m was up 12% yoy and 1% ahead of consensus, as the EBITDA margin was 30bps above co...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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