Royal DSM

Royal DSM is engaged in the creation of products and services in Life Sciences and Materials Sciences. Co.'s products and services are used globally in range of markets and applications in healthcare, pharmaceutical automotive and chemicals sectors. End markets include human and animal nutrition and health, personal care, pharmaceuticals, automotive, coatings and paint, electrics and electronics, life protection and housing. The activities of Co. are grouped into four clusters: Nutrition, Pharma, Performance Materials and Polymer Intermediates.
  • TickerDSM
  • ISINNL0000009827
  • ExchangeEuronext Amsterdam
  • SectorChemicals
  • CountryNetherlands

Analysts

Rob Hales

Morningstar | Nutrition Powers Ahead for DSM in 3Q but Materials Outlook Uncertain

Koninklijke DSM has been actively reshaping its portfolio of businesses through acquisitions and divestitures. The end result is a company that is heavily weighted toward nutrition, with less emphasis on chemicals. While it is not yet moatworthy, we think the company has been successful in creating a less cyclical business with more sustainable margins. DSM has focused on internal efficiencies in recent years, and we expect the remaining cost savings targets to be achieved. Going forward, the company will be pursuing acquisitions again, primarily in the nutrition business. The nutrition segmen...

Rob Hales

Nutrition Powers Ahead for DSM in 3Q but Materials Outlook Uncertain

No-moat Koninklijke DSM reported third-quarter EBITDA of EUR 406 million, up 11% over 2017 or 7% excluding the temporary vitamin effect. Results were broadly in line with our view and consensus. Trends remain positive in nutrition, while the materials segment appears to be softening with volumes declining 2% in the quarter. We don’t expect to make a material change to our EUR 66 fair value estimate. At current levels, the shares remain overvalued. In the nutrition business, around EUR 15 milli...

Alan Vandenberghe ...
  • Bart Cuypers
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wim Hoste

KBC Securities Morning Note 8-11-2018 BAMNB NA, BBED NA, BPOST BB, DSM NA, KDS NA, RTL BB, SOLB BB

BAM Group: Good 9M18 revenues yet softer result and TWC Beter Bed Holding: Waking up from a beauty sleep bpost: Ebitda ex. one-off 13% below exp, outlook confirmed DSM: Sweetener JV with Cargill Kiadis: 3 senior hires to support commercialisation ATIR101 RTL Group: First look – Q3 results in line, guidance confirmed Solvay: 3Q REBITDA +3.8%, FY guidance range narrowed Dynamic Top Pick List: Adding Beter Bed Holding to Dynamic Top Pick List

Valérie GASTALDY

Short term view - DSM : The recovery is a consolidation.

The trend is bearish. The recovery is a consolidation. The fall might resume toward €75.61. The background trend would be questioned should prices rise above €93.04.

Valérie GASTALDY

Analyse court terme - DSM : La reprise est une consolidation.

La tendance est baissière. La reprise est une consolidation. La baisse risque de reprendre jusqu'à 75,61 €. La tendance de fond serait remise en cause en cas de franchissement de 93,04 €.

Rob Hales

Morningstar | Nutrition Powers Ahead for DSM in 3Q but Materials Outlook Uncertain

Koninklijke DSM has been actively reshaping its portfolio of businesses through acquisitions and divestitures. The end result is a company that is heavily weighted toward nutrition, with less emphasis on chemicals. While it is not yet moatworthy, we think the company has been successful in creating a less cyclical business with more sustainable margins. DSM has focused on internal efficiencies in recent years, and we expect the remaining cost savings targets to be achieved. Going forward, the company will be pursuing acquisitions again, primarily in the nutrition business. The nutrition segmen...

Rob Hales

Nutrition Powers Ahead for DSM in 3Q but Materials Outlook Uncertain

No-moat Koninklijke DSM reported third-quarter EBITDA of EUR 406 million, up 11% over 2017 or 7% excluding the temporary vitamin effect. Results were broadly in line with our view and consensus. Trends remain positive in nutrition, while the materials segment appears to be softening with volumes declining 2% in the quarter. We don’t expect to make a material change to our EUR 66 fair value estimate. At current levels, the shares remain overvalued. In the nutrition business, around EUR 15 milli...

Alan Vandenberghe ...
  • Bart Cuypers
  • Lenny Van Steenhuyse
  • Ruben Devos
  • Sandra Cauwenberghs
  • Wim Hoste

KBC Securities Morning Note 8-11-2018 BAMNB NA, BBED NA, BPOST BB, DSM NA, KDS NA, RTL BB, SOLB BB

BAM Group: Good 9M18 revenues yet softer result and TWC Beter Bed Holding: Waking up from a beauty sleep bpost: Ebitda ex. one-off 13% below exp, outlook confirmed DSM: Sweetener JV with Cargill Kiadis: 3 senior hires to support commercialisation ATIR101 RTL Group: First look – Q3 results in line, guidance confirmed Solvay: 3Q REBITDA +3.8%, FY guidance range narrowed Dynamic Top Pick List: Adding Beter Bed Holding to Dynamic Top Pick List

Rob Hales

Morningstar | Nutrition Powers Ahead for Koninklijke DSM in 3Q but Materials Outlook Uncertain; Shares Overvalued

No-moat Koninklijke DSM reported third-quarter EBITDA of EUR 406 million, up 11% over 2017 or 7% excluding the temporary vitamin effect. Results were broadly in line with our view and consensus. Trends remain positive in nutrition, while the materials segment appears to be softening with volumes declining 2% in the quarter. We don’t expect to make a material change to our EUR 66 fair value estimate. At current levels, the shares remain overvalued. In the nutrition business, around EUR 15 million in abnormal profits were recorded due to the BASF citral force majeure. This should be the final q...

Rob Hales

Nutrition Powers Ahead for Koninklijke DSM in 3Q but Materials Outlook Uncertain; Shares Overvalued

No-moat Koninklijke DSM reported third-quarter EBITDA of EUR 406 million, up 11% over 2017 or 7% excluding the temporary vitamin effect. Results were broadly in line with our view and consensus. Trends remain positive in nutrition, while the materials segment appears to be softening with volumes declining 2% in the quarter. We don’t expect to make a material change to our EUR 66 fair value estimate. At current levels, the shares remain overvalued. In the nutrition business, around EUR 15 milli...

1 director bought

A director at Koninklijke Dsm Nv bought 8,300 shares at 90.260EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of...

Nurhayati Wan

Royal DSM NV

Nurhayati Wan

Royal DSM NV

Nurhayati Wan

Royal DSM NV

Nurhayati Wan

Royal DSM NV

Nurhayati Wan

Royal DSM NV

Expert Corporate Governance Service (ECGS)

Etude de l'AG du 03/0/2017

Under agenda item 5a, it is proposed to amend the Articles of Association in relation to the Cumulative Preference Shares A. The changes are such that the dividend percentage of the Preference Shares will every year be based upon the dividend yield of the ordinary shares in the preceding year. We have no concerns over the proposed amendment, we consider the proposed return on the Cumprefs A to be fair. We recommend approval.Under agenda item 10b, it is proposed to authorize the Management Board for a period of 18 months to restrict or exclude the pre-emptive rights allowed to shareholders in r...

Valérie GASTALDY

Short term view - DSM : The recovery is a consolidation.

The trend is bearish. The recovery is a consolidation. The fall might resume toward €75.61. The background trend would be questioned should prices rise above €93.04.

Valérie GASTALDY

Analyse court terme - DSM : La reprise est une consolidation.

La tendance est baissière. La reprise est une consolidation. La baisse risque de reprendre jusqu'à 75,61 €. La tendance de fond serait remise en cause en cas de franchissement de 93,04 €.

Valérie GASTALDY

Short term view - DSM : The trend is bearish.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €75.61. The bearish trend would be challenged above €93.04.

Valérie GASTALDY

Analyse court terme - DSM : La tendance est baissière.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 75,61 €. La tendance baissière serait remise en cause au-dessus de 93,04 €.

Valérie GASTALDY

Medium term view - DSM : The trend is bullish.

The trend is bullish. The recent fall is getting more vigorous. The next support is at €75.29. A break below €75.29 would challenge the trend.

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