News Business
Animal nutrition branch depresses DSM's turnover
Animal feed manufacturer DSM-Firmenich reports that turnover in the past quarter was 9% lower than a year ago. The outlook for the rest of the year is not rosy either.
The annual figures do not really come as a surprise to analysts. The company had already warned a month ago. The figures are particularly bad due to problems in the vitamin market, which have an impact on the performance in the animal feed sector, but also in the food sector.
DSM merged with Swiss company Firmenich in May of this year. The company has spent a total of €400 million building up vitamin stocks, but the market has not yet lived up to expectations.
DSM-Firmenich is now busy restructuring and reducing costs and that process is starting to bear fruit.
Max van der Heyden
© DCA Market Intelligence. This market information is subject to copyright. It is not permitted to reproduce, distribute, disseminate or make the content available to third parties for compensation, in any form, without the express written permission of DCA Market Intelligence.