Core Insights - dsm-firmenich has announced the divestment of its Animal Nutrition & Health (ANH) activities to CVC Capital Partners, leading to the classification of these assets and liabilities as Assets Held for Sale and the financial results of ANH as Discontinued Operations [1][2] Financial Results - The financial results have been restated to present the Continuing Operations of dsm-firmenich, ensuring a comparable view of the company's ongoing performance over time [2] - Comparative figures for the most recent four reported quarters (Q4 2024, Q1 2025, Q2 2025, Q3 2025) and full-year 2024 will include line items such as Net Sales, Adjusted EBITDA, Adjusted EBITDA margin, and Organic Sales Growth [3] Reporting Structure Adjustments - The new reporting structure reflects significant adjustments for 2024 and 2025, particularly in the Perfumery & Beauty (P&B) segment, which now excludes Aroma Ingredients and Pentapharm, classified under Discontinued Operations [4] - The Taste, Texture & Health (TTH) segment has been adjusted to account for Yeast Extracts and certain vitamin sales that are now part of Discontinued Operations, while Bovaer has moved from ANH to TTH [5] - The Health, Nutrition & Care (HNC) segment has been restated to include Marine Lipids and certain vitamin sales from ANH, with Veramaris transferred from ANH to HNC [6] Discontinued Operations - Discontinued Operations now encompass ANH, Aroma Ingredients, Marine Lipids, Yeast Extracts, and certain vitamin sales, following a portfolio review communicated at the Capital Markets Day in 2024 [7] Key Performance Indicator Adjustments - dsm-firmenich will provide an updated 'Core EBIT' figure, which will add back merger-related amortization and amortization of other intangible assets recognized through purchase-price allocations from all pre-merger acquisitions, facilitating easier comparison with industry peers [8] Future Reporting Changes - Starting Q1 2026, Nutrition Improvement activities will transfer from Health, Nutrition & Care to Group Sustainability, reported under Corporate Activities, generating approximately €20 million in quarterly net sales and operating around break-even at the Adjusted EBITDA level [10]

Core Viewpoint - dsm-firmenich has announced the divestment of its Animal Nutrition & Health (ANH) activities to CVC Capital Partners, leading to a reclassification of the financial results of ANH as Discontinued Operations and the assets and liabilities as Assets Held for Sale [1][2]. Financial Results and Reporting Structure - The financial results have been restated to present the Continuing Operations of dsm-firmenich, ensuring a comparable view of the company's ongoing performance over time, with full-year 2025 results to be reported on February 12, 2026 [2]. - Comparative figures for the most recent four reported quarters (Q4 2024, Q1 2025, Q2 2025, Q3 2025) and full-year 2024 will include line items such as Net Sales, Adjusted EBITDA, Adjusted EBITDA margin, and Organic Sales Growth [3]. - The new reporting structure reflects primary structural adjustments for 2024 and 2025, particularly in the Perfumery & Beauty (P&B) segment, which has been restated for Aroma Ingredients and Pentapharm, now included in Discontinued Operations [4]. Segment Adjustments - The Taste, Texture & Health (TTH) segment has been restated primarily for Yeast Extracts and certain vitamin sales included in the ANH divestment, which have moved to Discontinued Operations, while Bovaer has been transferred from ANH to TTH [5]. - The Health, Nutrition & Care (HNC) segment has been restated for Marine Lipids and certain vitamin sales included in the ANH divestment, with Veramaris being transferred from ANH to HNC [6]. - Discontinued Operations now include ANH, Aroma Ingredients, Marine Lipids, Yeast Extracts, and certain vitamin sales, following a portfolio review communicated at the Capital Markets Day in 2024 [7]. Key Performance Indicator (KPI) Adjustments - dsm-firmenich will provide an updated 'Core EBIT' figure, which adds back merger-related amortization and amortization of other intangible assets recognized through purchase-price allocations from all pre-merger acquisitions, facilitating easier comparison with industry peers [8]. Future Reporting Adjustments - The Nutrition Improvement activities, focusing on sustainability-driven nutritional support and food aid programs, will transfer from Health, Nutrition & Care to Group Sustainability and will be reported under Corporate Activities starting Q1 2026, generating approximately €20 million in quarterly net sales [10].

Nestlé has sold its 40% stake in the Herta charcuterie business to Casa Tarradellas, giving full control to the Spanish food company. The Swiss food giant formed a partnership with Barcelona-based Casa Tarradellas in 2019 when the KitKat maker divested 60% of Herta to the group. In a brief statement today (23 December), Nestlé said the joint venture has come to an end. The financial terms for the sales of the remaining stake were not disclosed. As well as charcuterie marketed in Europe, the venture als ...

Core Viewpoint - The company is conducting a continuous portfolio review and has decided to sell the Dickies brand due to an attractive inbound offer from Bluestar, despite previously not planning to sell it [1]. Group 1 - The portfolio review is an ongoing process conducted annually by the company [1]. - The decision to sell Dickies was influenced by an unexpected attractive offer from Bluestar [1]. - The company has a diverse brand portfolio and is evaluating which brands strategically fit within its overall strategy [1].