Adjusted net profit from continuing operations of €601 million was up by €411 million versus 2023. Besides the full-year effect of the former Firmenich, this was mainly attributable to improved business results. The net profit available to DSM-Firmenich AG’s equity holders decreased by €1,887 million to €250 million.
This decrease was mainly a result of the net book profit of €2,796 million in 2023 on the sale of DSM Engineering Materials, partly offset by the lower Alternative performance measures (APM) adjustments of €505 million, due to lower acquisition and restructuring costs, as well as the aforementioned improved business results and full-year effect of the former Firmenich. As a result, net earnings per share from continuing operations increased to €0.94 in 2024 (2023: -€2.82), and for total dsm-firmenich it decreased to €0.94 (2023: €9.14), due to the book result on the sale of DSM Engineering Materials in 2023.
Financial income and expense decreased by €16 million year-on-year to a net expense of €134 million. This was mainly caused by the decrease of the exchange differences by €39 million, partly offset by the full-year effect of Firmenich.
The total effective tax rate over taxable result 2024 for continuing operations was 34.4% (2023: 2.8%); excluding APM adjustments, this was 24.1% (2023: 37.3%). This was mainly caused by the strong improvement of the financial results.
Adjustments in calculating our Alternative performance measures
Total adjustments from continuing operations for the full year amounted to a loss of €321 million (2023: a loss of €826 million), consisting of a loss in EBITDA of €127 million (including restructuring costs of €42 million and acquisition, divestment or integration costs of €42 million), impairments of €238 million (including relating to the divestment of the marine lipids business of €74 million and the yeast extracts business of €73 million), financial expenses of €5 million, a related tax impact of -€45 million and other results relating to associates of -€4 million.
Sales by destination
Sales by business segment
Adjusted EBITDA margin
Sales bridge 2024
