Free Trial

BASIC INDUSTRIES: DSM-Firmenich (DSFIR A3/A-): 2Q24 Results

BASIC INDUSTRIES

Credit neutral overall.

  • Revenues beat consensus by 3%, helped by strong organic growth at 7%.
  • Adj. EBITDA beat by 4.5%. Margins improved slightly YoY with cost synergies and vitamin transformation contributing.
  • FY24 adj. EBITDA outlook raised to around €2bn, from at least €1.9bn.
  • Adj. gross operating FCF improved 61% YoY, with improved WC management. Net debt is €1.2bn higher from FY23 due to restructuring costs, annual dividend and DSM shareholder buyouts.
  • Call 08.00 BST https://dsm-firmenich-h1-2024-results.open-exchange.net/registration

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.