Ingredients Giant DSM Sells $6.16Bnn in the Last Nine Months
- Chaileedo Press
- Nov 4, 2022
- 2 min read
International ingredients giant DSM's Health, Nutrition and care business, which includes fragrances and personal care, reported sales of 2.234 billion euros (about $2.18 billion) in the first three quarters of the year, thanks mainly to high demand from international consumers for hair care and fine fragrances.
(Credit: website)
DSM, the international nutraceuticals, chemicals and pharmaceuticals group, has recently published its results for the first three quarters of 2022. In the first three quarters, DSM reported total sales of 6.297 billion euros (about $6.16 billion), up 18% year-on-year, and total sales of 2.182 billion euros (about $2.13 billion) in the third quarter, up 20% year-on-year. Although the macroeconomic environment remains challenging and energy and prices of ingredients continue to rise, all DSM businesses as a whole achieved good organic growth in the third quarter, according to the results report. DSM's main business Health, Nutrition & Biomedical is composed of three business units, including Animal Nutrition & Health, Health, Nutrition & Care, and Food & Beverage. Health, Nutrition & Care business mainly comprises Personal Care, Fragrances, Life Nutrition, Dietary Supplements, and Biomedical. Sales of this business in the first three quarters were 2.234 billion euros (about $2.18 billion), up 18% year-on-year, while sales in the third quarter were 770 million euros (about $753 million), up 22% year-on-year. Among them, personal care and fragrance products achieved strong growth thanks to the liberalization of international flows for high demand for skin care, sun protection, hair care and fine fragrances. It is worth noting that in May this year DSM announced a merger with Swiss perfume and fragrance giant Firmenich to form a new company DSM-Firmenich, which is expected to be completed in the first half of 2023 and will be listed on Euronext Amsterdam upon completion. The DSM-Firmenich merger will further accelerate innovation in the industry and bring new growth opportunities to customers, the companies said. Firmenich's fragrance and ingredients business will be combined with DSM's personal care and fragrance business through a merger, of which the combined fragrance and beauty division will have total revenues of RMB 23,584 million. Firmenich's fragrances and ingredients business will further expand the share of the beauty market for both companies through a merger with DSM's personal care and fragrances business. The combined fragrance and beauty division will be a leader among fragrance ingredients companies and will also have high-end renewable, natural and biodegradable technologies, the sources said.
(Credit: from DSM official)
According to the FY2022 results announced by Firmenich (as of June 30, 2022), Firmenich's revenue reached CHF4.723 billion (approximately $4.67 billion) in the previous fiscal year, up 11.1% year-on-year. In particular, its aroma and fragrance ingredients business revenue grew by 11.3%, thanks to high growth rates and market share gains in its fine fragrance business.
Source: DSM Official
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