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DSM's net profit drops 21% on currency movements

8:34 AM MDT | May 6, 2014 | Francinia Protti-Alvarez

DSM reports a €99-million ($137.4 million) net profit from continuing operations in the first quarter, down 21% year-on-year (YOY) as a result of currency movements, the company says. Ebitda shrank 12% YOY, to €270 million, and sales slipped from €2.32 billion in the first quarter of 2013 to €2.29 billion this year, despite higher volumes, the company says. "DSM delivered results in line with expectations despite further currency deterioration during the quarter. We are pleased to report that market conditions in nutrition began to show...

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