DSM : Materials recovering faster than expected
>4Q20 adjusted EBITDA 4% ahead of consensus - On 16 February, DSM reported 4Q20 results that were above market expectations. Adjusted EBITDA of EUR 390m was up 5% yoy and 4% ahead of consensus (Vara). The beat was driven by Materials, which reported adjusted EBITDA of EUR 85m, down 10% yoy but 20% above consensus due to volume growth of 14% yoy. Nutrition was in line with expectations with adjusted EBITDA of EUR 328m, up 12% yoy and 1% ahead of consensus....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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