Yesterday, DSM-Firmenich released its financial report of Q3 in 2024 and has raised its 2024 profit forecast, expecting an adjusted core profit (EBITDA) of €2.1 billion, slightly above the €2 billion it had previously projected.
DSM-Firmenich also reported a 32% rise in EBITDA for the third quarter, reaching €541 million and exceeding analyst expectations. This growth was driven by robust organic sales, synergies from the merger, and the vitamin transformation program, though foreign exchange effects had a negative impact of around €15 million.
The Perfumery & Beauty sales recorded 991 million euros, up 8% year-on-year. Perfumery recorded continued strength in both Fine Fragrances and Consumer Fragrances, supported by customers seeking greater product superiority. Beauty & Care had a solid quarter, and Ingredients saw good demand across all end-use segments.
In addition, the company announced plans to carve out its Animal Health and Nutrition division by the end of 2025, following a significant 76% drop in earnings in 2023. This move is part of a broader strategy to focus on its core businesses in fragrances and flavors, which serve major luxury clients such as LVMH and Kering.
CEO Dimitri de Vreeze highlighted that DSM-Firmenich’s restructuring initiatives and divestments of non-priority segments are progressing smoothly, aligning with the company’s growth and profitability objectives.
