DSM-Firmenich Raises Profit Outlook on Higher Vitamin Prices

Bloomberg10-31

(Bloomberg) -- DSM-Firmenich AG raised its profit outlook for the second time this year as a supply disruption led to price increases in some vitamins.The chemicals group expects full-year adjusted ...

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The firm expects the higher prices to boost its profit by €80 million in the fourth quarter.Last year, DSM-Firmenich started a restructuring program due to the weakness in the global vitamins market. In February, the company said it’s considering the sale of its animal nutrition and health unit, which had €858 million sales in the third quarter, as it seeks to cut its exposure to the vitamin market.“The carve-out of animal nutrition & health and divestments of de-prioritized activities, are progressing well,” the DSM-Firmenich said. It cited weak business conditions in China “with the pork industry still under pressure.”DSM-Firmenich was born last year after chemicals company Royal DSM NV and Swiss ingredients maker Firmenich International SA completed a merger to create one of the world’s largest producers of nutrition, health, and beauty products.©2024 Bloomberg L.P.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2479789257"}