Life and materials sciences company DSM reported it had continued strong organic sales growth in the first quarter of 2018 in its underlying business of around 11%.
Sales for the quarter were up at €2,435 million, compared to €2,159 million in Q1 2017, and adjusted EBITDA was €535 million, compared to €345 million in Q1 2017. The higher operating result due to a temporary vitamin price benefit estimated at €165 million.
Feike Sijbesma, CEO, said "We are very pleased that the strong underlying performance of our business continues, with growth well above market. In addition, we are currently benefitting from substantially higher prices in some vitamins due to exceptional supply disruptions in the industry, which are expected to be temporary and heavily weighted towards the first half of the year. These two combined result in a significantly higher outlook for the full year 2018."