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Feb 15 2024, 08:15 GMT
DSM-Firmenich delivered FY23 profitability in-line with market expectations. The group has initiated the separation of its Animal Nutrition & Health (ANH) division, aiming to reduce future earnings volatility (vitamins) and capital intensity. FY24 adjusted EBITDA guidance of ‘at least’ €1.9bn (consensus: €1,987m) will be driven by self-help measures, with a €100m contribution from merger synergies and a €100m benefit from its vitamin transformation programme. At first look, we envisage limited changes to our forecasts and expect the statement to be well received
Feb 15 2024, 08:15 GMT