Dsm-firmenich posts Q3 results slightly above expectations, raises growth outlook

Dsm-firmenich Q3 Earnings Top Expectations, Growth Outlook Raised

Third-Quarter Financial Results and Market Performance

Nov 4 (Reuters) - Dsm-firmenich reported third-quarter core profit a touch above market expectations on Wednesday, citing more contract wins, and raised its full-year growth outlook.

Company Overview and Market Significance

As a supplier to consumer goods, food and nutrition companies, including fragrance makers owned by LVMH and Kering, the company is seen as a barometer for demand, pricing and customer buying patterns across global markets.

Key Financial Highlights

• Quarterly adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were €482 million ($541.29 million), slightly above the company-provided consensus of €478 million
• It now forecasts full-year growth of around 5%, up from previous 2-4%
• Sales rose to €2.37 billion in the quarter, compared with a consensus forecast of €2.36 billion, while like-for-like sales increased 5%, against expectations for 4.7% growth
• Perfumery & Beauty recorded like-for-like sales growth of 8%, compared with the 5.5% expected by analysts

Management Commentary and Outlook

• "Moving into the fourth quarter, business conditions remain supportive," CEO Dimitri de Vreeze said in a press release

Additional Information

($1 = 0.8905 euros)

(Reporting by Vera Dvorakova and Lucie Barbier in Gdansk; editing by Izabela Niemiec)