DSM Reports Decreased Profits, Announces 4% Workforce Reduction

DSM says net sales in the second quarter of 2012 remained at the same level as in the second quarter of 2011: €2.27 million ($2.81 million). Ebit and Ebitda from continuing operations decreased 29% and 14% year-over-year, to €168 million and €290 million, respectively. Net profits for the whole of DSM fell 90% on an 1% decrease in net sales, the company says. The decrease in DSM's operating profits is attributed to the performance of the company's polymer intermediates business, which posted a record Ebitda in the second quarter of 2011...

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