dsm-firmenich Q1 2025 trading update

Core Insights - dsm-firmenich reported a strong performance in Q1 2025, with significant growth across its businesses and effective execution of its strategic plan, including cost and revenue synergy programs [2][4][10] Financial Performance - Sales for Q1 2025 reached €3,274 million, a 7% increase from €3,071 million in Q1 2024 [2][9] - Organic sales growth was recorded at 8% [10] - Adjusted EBITDA rose to €650 million, a 40% increase from €463 million in Q1 2024, with an Adjusted EBITDA margin of 19.9% compared to 15.1% in the previous year [2][11] Business Unit Performance - Perfumery & Beauty (P&B): Sales increased to €1,015 million, with a 3% organic sales growth. Adjusted EBITDA was €230 million, down 2% from the previous year, with a margin of 22.7% [14][15][16] - Taste, Texture & Health (TTH): Sales reached €851 million, reflecting a 7% organic sales growth. Adjusted EBITDA increased by 12% to €168 million, with a margin of 19.7% [18][19][20] - Health, Nutrition & Care (HNC): Sales were €528 million, with 7% organic sales growth. Adjusted EBITDA rose 16% to €92 million, achieving a margin of 17.4% [23][24][25] - Animal Nutrition & Health (ANH): Sales surged to €874 million, a 17% increase, with organic sales growth of 19%. Adjusted EBITDA skyrocketed to €186 million, up 675%, with a margin of 21.3% [27][28][30] Strategic Initiatives - The company announced a €1 billion share buyback program, initiated in April 2025, aimed at reducing issued capital [6][8] - dsm-firmenich expects a full-year Adjusted EBITDA of at least €2.4 billion for 2025, which includes a €150 million contribution from temporary vitamin price effects due to supply disruptions [5][6]