Financial figures

Overview of DSM's latest financial key figures

Key financials

Presented below are DSM's net salesbalance sheet, income statement and cash flow statement as at FY 2021*.

* From Q1 2021 onwards, in line with the established practice of many of DSM's consumer ingredients peers, we provide trading updates for Q1 and Q3 reporting sales, organic growth, Adjusted EBITDA and Adjusted EBITDA margins.

We report full financial details for half year and full year results and host calls for the media and analysts for both.

Net sales

in € million

Year Q1 Q2 Q3 Q4 Total
2022 2,590        
2021 2,194 2,294 2,299 2,417 9,204
2020 2,045* 2,020* 1,961* 2,080* 8,106*
2019 2,021* 2,008* 2,035* 1,934* 7,998*
2018 2,435 2,359 2,265 2,208 9,267
2017 2,159 2,161 2,136 2,176 8,632
2016 1,913 1,994 1,998 2,015 7,920
2015 1,886 1,754 2,102 1,926 7,722
2014 2,298 2,288 2,323 2,175 9,181
2013 2,376 2,468 2,397 2,377 9,618
2012 2,290 2,268 2,304 2,269 9,131
2011 2,234 2,265 2,322 2,227 9,048
2010 1,933 2,120 2,041 2,082 8,176
2009 1,578 1,664 1,725 1,758 6,725
2008 2,303 2,406 2,336 2,034 9,079

*  Figures reflect the reclassification of the DSM’s Resins & Functional Materials businesses to discontinued operations. The sale with an equity value of €1.6 billion was subsequently finalized on 01 April 2021.

Balance sheet FY 2021

Assets in € million Year-end 2021 Year-end 2020
Intangible Assets 5,310 4,440
Property, Plant & Equipment 3,957 3,775
Deferred Tax Assets 203 240
Prepaid pension cost 75 2
Share in Associates & Joint Ventures 64 93
Financial derivatives 48 61
Other Financial Assets 227 315
Non-Current Assets 9,884 8,926
Inventories 2,297 1,879
Trade Receivables 1,603 1,391
Income tax receivables 61 32
Other Current Receivables 32 60
Derivatives 30 48
Current Investments 489 43
Cash & Cash Equivalents 1,561 871
Sub-total 6,073 4,324
Assets Held for Sale 56 1,096
Current Assets 6,129 5,420
Total Assets 16,013 14,346
Shareholders' Equity 9,318 7,399
Non-controlling interest 79 88
Equity 9,397 7,487
Deferred Tax Liabilities 485 431
Employee Benefits Liabilities 323 414
Provisions 96 123
Borrowings 2,989 3,484
Derivatives 9 1
Other Non-current Liabilities 283 163
Non-current liabilities 4,185 4,616
Employee Benefits 21 42
Provisions 68 61
Borrowings 104 102
Derivatives 40 13
Trade Payables 1,571 1,218
Income tax payable 77 45
Other Current Liabilities 540 508
Sub-total 2,421 1,989
Liabilities associated with the assets held for sale 10 254
Current Liabilities 2,431 2,243
Total Equity and Liabilities 16,013 14,346
Net debt 1,014 2,577
Equity/Total Assets  59% 52%

Income statement FY 2021

Continuing operations in € million FY 2021 FY 2020
Sales 9,204 8,106
EBITDA 1,702 1,368
Depreciation and amortization  681 706
Operating profit (EBIT) 1,021 662
Financial income and expense -106 -67
Profit before income tax expense 915 595
Income tax expense -168 -106
Share of the profit of associates/
joint control entities
342 -32
Net profit from continuing operations 1,089 457
Of which:    
Attributable to non-controlling interests -3 2
Attributable to equity holders of DSM  1,086 459
Dividend on cumulative preference shares -6 -7
Available to holders of ordinary shares 1,080 452
Discontinued operations in € million FY 2021 FY 2020
Net profit from discontinued operations 591 51
Of which:    
Attributable to non-controlling interests -1 -4
Attributable to equity holders of DSM  590 47
Total in € million FY 2021 FY 2020
Net profit 1,680 508
Of which:    
Attributable to non-controlling interests -4 -2
Attributable to equity holders of DSM  1,676 506
Dividend on cumulative preference shares -6 -7
Net profit available to holders of ordinary shares 1,670 499

Reconciliation to Alternative Performance Measures (APM) FY 2021

Continuing operations in € million FY 2021 FY 2020
EBITDA 1,702 1,368
Acquisitions/divestments  26 52
Restructuring  92 103
Other -6 11
Sub-total APM adjustments to EBITDA 112 166
Adjusted EBITDA 1,814 1,534
Operating profit (EBIT) 1,021 662
APM adjustments to EBITDA 112 166
Impairments of PPE and Intangible assets 6 101
Sub-total APM adjustments to operating profit (EBIT) 118 267
Adjusted operating profit (EBIT) 1,139 929
Net profit from continuing operations 1,089 457
APM adjustments to operating profit (EBIT) 118 267
APM adjustments to financial income and expense 0 0
Income tax related to APM adjustments -30 -54
APM adjustments to share of the profit of associates/joint control entities -319 41
Sub-total APM adjustments -231 254
Adjusted Net profit continuing operations 858 711
Net profit continuing operations available to holders of ordinary shares 1,080 452
APM adjustments -231 254
Adjusted Net profit continuing operations available to holders of ordinary shares 849 706

Cash flow statement FY 2021

in € million FY 2021 FY 2020
 Cash, Cash Equivalents and Current Investments (at beginning of period)  914 1,488
 Current Investments (at beginning of period)  43 688
 Cash & Cash Equivalents (at beginning of period)   871  800
 Operating Activities     
 EBITDA  2,370  1,476
 Change in Working  Capital  -144 25
 Income Tax   -133 -124
 Other  -666 117
 Cash provided by Operating Activities (Operating cash flow)   1,427 1,494
 of which provided by continuing operations   1,428 1,360
 Investing Activities     
 Capital Expenditures   -570 -609
 Payments regarding drawing rights  -7 -17
 Acquisitions  -704  -1,533
 Disposal of Subsidiaries, Businesses & Associates  1,791 -2
 Disposal of Other Non-current Assets  150 48
 Change in Fixed-term Deposits  -445  646
 Interest Received  5 8
 Dividend and capital (re)payments   -31 -15
 Other  19 -8
 Cash used in Investing Activities  208 -1,482
 Financing Activities     
 Dividend  -266  -289
 Interest Paid   -65 -54
 Repurchase of shares  -165 -309
 Proceeds from re-issued treasury shares  34 63
 Change in Commercial Paper      -  
 Proceeds from / repayments of corporate bonds  -500 991
 Payment of lease liabilities  -54 -55
 Other Cash from/ used in Financing Activities   32                  -264
 Cash from / used in Financing Activities -984 83
 Exchange Differences  39 -24
 Cash and Cash Equivalents (end of period)   1,561 871
 Current Investment (end of period)   489 43
 Cash and Cash Equivalents & Current Investments (end of period)   2,050 914

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