Yesterday, DSM-Firmenich released its financial report for 2024. It reveals robust performance, with a reported sales of €12,799 million, marking a 4% increase year-on-year. CEO Dimitri de Vreeze expressed pride in the company’s achievements, emphasizing their strong position as an innovation-focused leader in nutrition, health, and beauty. The company’s strategic direction was redefined with the announcement of the separation of Animal Nutrition & Health and a series of portfolio adjustments, including the sale of marine lipids, yeast extracts, and their minority stake in Robertet.
In the Perfumery & Beauty segment, DSM-Firmenich saw a notable 9% volume growth, supported by both global and regional accounts. The segment recorded sales of €3.964 billion, up 7% year on year. Perfumery performed exceptionally well, driven by strong sales in both Fine and Consumer Fragrances.
Innovations such as HALOSCENT® Berry Boost and HALOSCENT® Pure You set the company apart in the market, showcasing their leadership in fragrance technology. Ingredients also had a solid quarter, focusing on Fragrance Specialties and expanding its sustainable manufacturing footprint, including a new Supercritical Fluid Extraction plant in India. Beauty & Care, while delivering a strong first half, experienced a dip in demand for suncare in the latter half.
Adjusted EBITDA rose by 13% year-over-year, driven by innovation and synergies, resulting in a margin of 22.3%. Perfumery & Beauty’s performance was notable with 5% volume growth, while Beauty & Care faced challenges due to weaker demand for suncare. The company’s strong focus on product innovation, including new fragrance technologies and award-winning active ingredients like ETERWELL™ YOUTH, was key to its success. Overall, DSM-Firmenich’s results reinforce its ongoing commitment to innovation and strategic growth across its diverse sectors.
For the group, dsm-firmenich estimate a full year Adjusted EBITDA of at least €2.4 billion, which includes at least €100 million contribution from the temporary vitamin price effect from a supply disruption in the vitamin market.
