With energy costs weighing down productivity in Europe, DSM has lowered its full year 2022 outlook. However, the Dutch nutrition giant’s Food & Beverage arm delivered growth with volumes up 3 % and strong pricing of 11 % with Dairy, Baking, Beverages and Hydrocolloids performing particularly well. The company disclosed that its businesses delivered a “solid performance” in the first nine months of 2022, with sales up 19 % and organic sales growth of 10 %. In particular, the company reports its Food & Beverage division recorded 12 % organic sales growth, while the value was 10 % for Health, Nutrition & Care and 8 % for Animal Nutrition & Health.

Geraldine Matchett, Co-CEO, comments: “All our businesses delivered good organic growth during the third quarter. We continue to counter rising energy and raw material prices, which accelerated especially in Europe, albeit with a time lag. Market demand remained resilient across our three businesses in a challenging macroeconomic environment.” Meanwhile, Dimitri de Vreeze, Co-CEO, mirrors a positive outlook for DSM’s mid-term financial targets: “Since their announcements back in May, good progress has been made toward closing the divestment of DSM Engineering Materials to Advent International and Lanxess, and our forthcoming merger with Firmenich. These significant steps will lead to the establishment of DSM-Firmenich, a purpose-led creation and innovation partner in nutrition, beauty and well-being.”