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

Cedric Duinslaeger ...
  • Guy Sips
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: BOTHE BB, DSM NA, GIMB BB, MDXH BB, VAN BB

Bone Therapeutics: Presenting ALLOB data at IFMRS DSM: Completion of transaction to raise stake in A. Pectin Gimv: Investment in Coolworld Rentals MDxHealth: Large-scale SelectMDx clinical validation Van de Velde: Appoints Karel Verlinde as CFO

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Marcel Klok
  • Nadège Tillier
  • Philippe Ledent

BNLX + /European and BeNeLux credit value mapping

Strategy and Supply . Retracement of 2018 sell-off almost complete . Supply surprisingly robust on the back of US issuers . BeNeLux supply dominated by ABIBB $ trade . We like the 2022-25 part of the curve, selective BBB exposure advised . TLTRO announcement increases the long odds of CSPP2

KONINKLIJKE DSM sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of KONINKLIJKE DSM (NL), a company active in the Specialty Chemicals industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 26, 2019, the closing price was EUR 94.18 and its potential was estimated at EUR 98.89.

KONINKLIJKE – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Nurhayati Wan

Royal DSM NV

Cedric Duinslaeger ...
  • Guy Sips
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wim Hoste

Morning Note: BOTHE BB, DSM NA, GIMB BB, MDXH BB, VAN BB

Bone Therapeutics: Presenting ALLOB data at IFMRS DSM: Completion of transaction to raise stake in A. Pectin Gimv: Investment in Coolworld Rentals MDxHealth: Large-scale SelectMDx clinical validation Van de Velde: Appoints Karel Verlinde as CFO

Nurhayati Wan

Royal DSM NV

Rob Hales

Morningstar | DSM's Strong Guidance and Capital Allocation Announcements Rebuff Market Fears; Shares Overvalued

No-moat DSM reported fourth-quarter EBITDA of EUR 370 million, up 3% over 2017 or 8% excluding the temporary vitamin effect in the prior-year period. This was ahead of consensus and our estimate. However, just looking at the core business of nutrition and materials, results were in line with our expectations. Despite seemingly "normal" results, the stock was up sharply after the announcement, rising around 8% intraday. In an increasingly fearful environment, we think the market is reacting positively to DSM’s strong 2019 guidance and capital allocation announcements, which exude confidence in ...

Rob Hales

DSM's Strong Guidance and Capital Allocation Announcements Rebuff Market Fears; Shares Overvalued

No-moat DSM reported fourth-quarter EBITDA of EUR 370 million, up 3% over 2017 or 8% excluding the temporary vitamin effect in the prior-year period. This was ahead of consensus and our estimate. However, just looking at the core business of nutrition and materials, results were in line with our expectations. Despite seemingly "normal" results, the stock was up sharply after the announcement, rising around 8% intraday. In an increasingly fearful environment, we think the market is reacting posit...

ING
Research Department

Benelux Morning Notes

AEGON: Leverage ratio a negative surprise, business plan in line with expectations. Arcadis: One legacy gone, one remains. DSM: Happy Valentine Buyback. KBC: Results of good quality, small miss on DPS but policy in line with commitment. NN Group: The long awaited share buyback (€0.5bn) has arrived. Ordina: Solid 4Q18 results with some small positives. SBM Offshore: FY18 review - dividend and 3rd hull say a lot. Telenet Group: Q4 FCF and KPIs below, 2019 guidance a bit below. Unibail-Rodamco-Westfield: Was Westfield Worth It? Vastned: In the doldrums.

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...

KONINKLIJKE DSM sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of KONINKLIJKE DSM (NL), a company active in the Specialty Chemicals industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 4 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 26, 2019, the closing price was EUR 94.18 and its potential was estimated at EUR 98.89.

Nurhayati Wan

Royal DSM NV

Nurhayati Wan

Royal DSM NV

Nurhayati Wan

Royal DSM NV

Nurhayati Wan

Royal DSM NV

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Marcel Klok
  • Nadège Tillier
  • Philippe Ledent

BNLX + /European and BeNeLux credit value mapping

Strategy and Supply . Retracement of 2018 sell-off almost complete . Supply surprisingly robust on the back of US issuers . BeNeLux supply dominated by ABIBB $ trade . We like the 2022-25 part of the curve, selective BBB exposure advised . TLTRO announcement increases the long odds of CSPP2

ING
Hendrik Wiersma ...
  • Jeroen van den Broek
  • Job Veenendaal
  • Nadège Tillier
  • Suvi Platerink Kosonen

Coffee, Croissants & Credit/Nestlé, Credit Agricole, Rabobank, KBC, Credit Suisse, DSM, Statkraft and Enagas

Nestlé (NESNVX) reported organic sales growth of 3%, in line with management guidance. This compares to 2.4% in FY17. Nestlé saw stronger momentum in its two largest markets, the US and China, and also reported higher organic growth in infant nutrition and confectionery. For the year ahead Nestlé expects a further improvement in organic sales growth and underlying TOP margin in line with the 2020 targets. We view today's results as solid and in line with expectations, balanced out by increased shareholder returns. As such we believe the effect on spreads to be neutral. (For full story, downloa...

KONINKLIJKE – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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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