The strong recovery of materials business at the end of last year has continued into Q1
Royal DSM is a global, purpose-led, science-based company active in nutrition, health and sustainable living, delivered a 7% growth in Group sales at €2,194 million compared to €2,045 million in Q1 2020 and 13% growth in adjusted EBITDA at €441 million for Q1 2021 compared to € 390 million in Q1 2020 . During the quarter, nutrition and material sales grew by 7% and 13% respectively.
Geraldine Matchett and Dimitri de Vreeze, Co-CEOs, commented: “We made a very good start to the year despite the ongoing challenging COVID-19 environment. Our Nutrition business continued to perform well, with positive momentum in line with the trading conditions we saw during the second half of 2020.
The strong recovery of materials business at the end of last year has continued into Q1, supported by ongoing restocking by customers. Our increasing confidence in the recovery for Materials, combined with our unchanged positive outlook for Nutrition, leads us to increase our overall outlook for the Group for 2021.”
For the full year 2021, DSM continues to expect an adjusted EBITDA increase in Nutrition at the upper end of its mid-term strategic ambition of high single digit growth. Together with a stronger recovery in Materials than foreseen at the FY 2020 results release, DSM now expects an Adjusted EBITDA growth rate for the Group moving towards the mid-teens, with a continued good adjusted net operating free cash flow.
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