Dutch speciality chemicals group DSM on Thursday pre-announced better-than-expected earnings for the first quarter as well as raised its 2018 outlook on upbeat sales, with yet another boost coming from high prices in vitamins.
The company had been scheduled to publish the figures on May 8. Earnings before interest, taxes, depreciation as well as amortization (EBITDA) rose to 535 million euros ($661.3 million) coming from 345 million a year earlier. A company-published poll by Vara Research had estimated earnings at 345 million euros.
DSM raised its 2018 adjusted EBITDA forecast to “toward” 25 percent coming from earlier guidance for a rise of at least high single-digit growth.
“The strong underlying performance of our business continues, with growth well above market,” CEO Feike Sijbesma said in a statement.