May 7, 2020 / 5:39 AM / 18 days ago

DSM reports in-line quarterly results, suspends outlook

AMSTERDAM (Reuters) - Dutch speciality chemicals maker DSM NV (DSMN.AS) on Thursday reported first-quarter core earnings in line with estimates, but suspended its annual outlook amid market uncertainty caused by the coronavirus crisis.

Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at 423 million euros ($457 million), in-line with a company compiled poll, and down fractionally from 424 million euros posted last year.

Sales were flat at 2.29 billion euros.

The Dutch company expects an about 5% increase in adjusted EBITDA for its nutrition division, but said it is too early to provide an overall outlook as it has limited visibility on earnings from its materials division.

Reporting by Toby Sterling, Editing by Sherry Jacob-Phillips

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