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

By Reuters News

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

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

  • 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

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

($1 = 0.8905 euros)

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