dsm-firmenich figures: five-year summary

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Balance sheet
x € million	2024	2023	2022	2021	2020
Assets
Goodwill and intangible assets	18,078	18,738	5,147	5,309	4,440
Property, plant and equipment	5,725	5,549	3,576	3,964	3,775
Deferred tax assets	299	228	95	203	240
Share in associates and joint ventures	342	130	61	64	93
Derivatives	51	46	82	48	61
Other non-current assets	453	735	314	302	317
Non-current assets	24,948	25,426	9,275	9,890	8,926

Inventories	3,290	3,390	2,339	2,297	1,879
Current receivables	2,769	2,843	1,622	1,697	1,483
Derivatives	23	42	42	30	48
Current investments	50	107	125	489	43
Cash and cash equivalents	2,667	2,456	2,755	1,561	871
Assets held for sale	–	6	1,245	56	1,096
Current assets	8,799	8,844	8,128	6,130	5,420
Total assets	33,747	34,270	17,403	16,020	14,346

Equity and liabilities
Shareholders’ equity	22,511	22,908	10,743	9,318	7,399
Non-controlling interests	186	162	102	79	88
Equity	22,697	23,070	10,845	9,397	7,487

Deferred tax liabilities	1,556	1,751	476	490	431
Employee benefit liabilities	487	520	287	323	414
Provisions	87	142	50	96	123
Borrowings	4,444	4,114	2,978	2,995	3,484
Derivatives	7	8	4	9	1
Other non-current liabilities	109	146	205	280	163
Non-current liabilities	6,690	6,681	4,000	4,193	4,616

Employee benefits liabilities	62	49	5	21	42
Provisions	77	34	45	68	61
Borrowings	836	716	86	103	102
Derivatives	60	28	23	40	13
Current liabilities	3,325	3,684	1,969	2,188	1,771
Liabilities held for sale	–	8	430	10	254
Current liabilities	4,360	4,519	2,558	2,430	2,243
Total equity and liabilities	33,747	34,270	17,403	16,020	14,346

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Income statement

x € million

2024

2023

2022

2021

2020

Net sales

12,799

11,015

10,480

9,468

9,038

Net sales from continuing operations

12,799

10,627

8,390

7,269

–

Adjusted EBITDA¹

2,118

1,441

1,725

1,842

1,650

EBITDA

1,991

3,637

2,646

2,370

1,476

Adjusted operating profit (EBIT)¹

926

428

1,071

1,167

1,011

Operating profit (EBIT)

561

2,330

1,994

1,689

736

Operating profit (EBIT) from continuing operations

561

(497)

682

711

–

Financial income and expense

(134)

(151)

(94)

(106)

(67)

Income tax expense

(147)

(19)

(190)

(245)

(129)

Share of the profit of associates and joint ventures

–

(7)

342

(32)

Net profit for the year

280

2,153

1,715

1,680

508

Net profit attributable to non-controlling interests

Net profit available to equity holders of the parent company

250

2,137

1,700

1,676

506

Dividend on Cumulative Preference Shares

–

(6)

(7)

Net profit available to holders of ordinary shares

250

2,131

1,694

1,670

499

Key figures and financial ratios

Capital employed

26,474

26,766

11,473

11,019

10,557

Capital expenditure:

- Intangible assets and Property, plant and equipment

830

700

636

614

622

- Acquisitions

–

14,569

754

1,579

Disposals

184

3,559

1,413

1,941

Depreciation, amortization and impairments

1,430

1,307

652

681

740

Net debt

(2,556)

(2,215)

(87)

(1,019)

(2,577)

Dividend

667

582

167

438

420

Workforce at 31 December, headcount

28,214

29,301

20,682

21,358

23,127

Financial ratios¹

Current assets/current liabilities

2.02

1.96

3.15

2.52

2.42

Equity/total assets

0.67

0.62

0.59

0.52

Gearing (net debt/equity plus net debt) in %

10.1%

8.8%

0.8%

9.7%

26.0%

Adjusted EBITDA/net sales in %

16.5%

13.1%

16.5%

19.5%

18.3%

Adjusted EBITDA/financial income and expense

15.8

12.3

20.1

17.4

24.6

In presenting and discussing dsm-firmenich’s financial position, operating results and cash flows, dsm-firmenich uses certain Alternative Performance Measures (APMs) not defined by IFRS. These APMs are used because they are an important measure of dsm-firmenich’s business development and management performance. A full reconciliation of IFRS performance measures to the APMs is given in Note 2 Alternative performance measures.

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