dsm-firmenich

H1-25 adjusted EBITDA in-line; growth driven by Animal Nutrition & Health

  • Sectors : Foods
  • Companies : dsm-firmenich

Ratings and price correct at time of issue.

  • dsm-firmenich

    Closing Price: 8482c

  • RATING 09/10/20

  • PREVIOUS RATING 13/02/20

    NEUTRAL

DAVY VIEW

DSM-firmenich (DSFIR) delivered an in-line EBITDA result for Q2-25. It is a mixed picture under the bonnet for Q2 with flat organic sales growth for Perfumery & Beauty (P&B) and 2% volume growth for Taste, Texture & Health (TTH) ex-synergies. Guidance language for FY25 is tweaked to reflect FX. We do not envisage any material change to our FY25 EBITDA forecast of €2,379m. The exit of Animal Nutrition & Health (ANH) is “advancing”.

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Jul 31 2025, 07:50 IST/BST

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