DSM maintains positive momentum

DSM says this improvement of 27% was realised despite an ongoing challenging macro-economic environment. Cash flow in the third quarter from operating activities was €310 million, higher than in Q3 2012. Core earnings per share in Q3 2013 were 28% up over that in Q3 2012. The outlook for the full year 2013 remains unchanged.

In Performance Materials, organic sales growth was 4% compared to Q3 2012. Volumes increased in all three business groups, with DSM Dyneema delivering double-digit growth. Prices decreased at DSM Resins & Functional Materials, driven by the continued weak European economic climate and mix effects. Prices were stable at DSM Dyneema and DSM Engineering Plastics. Adverse currency movements, mainly in DSM Engineering Plastics, offset a significant part of the cluster's organic growth. EBITDA for Q3 was €84 million compared to €72 million in the same quarter of 2012. EBITDA margins continued to improve, reaching 12% in the quarter. DSM Dyneema saw its EBITDA improve significantly compared to 2012, driven by strong top-line growth. EBITDA of DSM Resins & Functional Materials showed an improvement due to strong cost control. DSM Engineering Plastics delivered a stable EBITDA performance, with negative currency effects compensated for by cost savings.