DCSIMG
Review of business in 2015 - Annual Report 2015 - DSM

Review of business in 2015

In 2015, DSM's activities were grouped into three clusters: Nutrition, Performance Materials and Innovation Center. In addition, DSM reports separately on Corporate Activities. Results presented in this section (and elsewhere in the management report) are before exceptional items, and are relating to consolidated activities only (therefore non-consolidated Partnerships are excluded).

Table 1: Net sales

Net sales
x € million
2015
2014
     
Nutrition
4,963
4,335
Performance Materials
2,528
2,460
Innovation Center
155
154
Corporate Activities
76
102
Total continuing operations
7,722
7,051
Discontinued operations
1,213
2,232
     
Total DSM
8,935
9,283

Table 2: EBITDA

EBITDA
x € million
2015
2014
     
Nutrition
822
850
Performance Materials
384
323
Innovation Center
(9)
(18)
Corporate Activities
(122)
(117)
Total continuing operations
1,075
1,038
Discontinued operations
95
128
     
Total DSM
1,170
1,166

Table 3: EBITDA / net sales

EBITDA / net sales
in %
2015
2014
     
Nutrition
16.6
19.6
Performance Materials
15.2
13.1
Total continuing operations
13.9
14.7
Discontinued operations
7.8
5.7
     
Total DSM
13.1
12.6

Table 4: Operating profit (EBIT)

Operating profit (EBIT)
x € million
2015
2014
     
Nutrition
535
596
Performance Materials
250
204
Innovation Center
(43)
(45)
Corporate Activities
(169)
(168)
Total continuing operations
573
587
Discontinued operations
77
30
     
Total DSM
650
617

Table 5: Capital employed at 31 December

Capital employed at 31 December
x € million
2015
2014
     
Nutrition
5,309
5,034
Performance Materials
1,723
1,744
Innovation Center
560
523
Corporate Activities
(39)
130
Total continuing operations
7,553
7,431
Discontinued operations
-
674
     
Total DSM
7,553
8,105

Table 6: ROCE

ROCE
in %
2015
2014
     
Nutrition
10.3
12.5
Performance Materials
14.4
11.9
Total continuing operations
7.6
8.2
Discontinued operations
19.0
3.8
     
Total DSM
8.2
7.8

Table 7: Capital expenditure

Capital expenditure
x € million
2015
2014
     
Nutrition
322
330
Performance Materials
98
71
Innovation Center
34
27
Corporate Activities
24
49
Total continuing operations
478
477
Discontinued operations
92
139
Total, accounting based
570
616
     
Non-cash items
(27)
37
Customer funding
(7)
(25)
     
Total, cash based
536
628

Table 8: R&D expenditure (including associated IP expenditure)

R&D expenditure (including associated IP expenditure)
 
x € million
as % of net sales
 
2015
2014
2015
2014
         
Nutrition
223
206
4.5
4.8
Performance Materials
143
135
5.7
5.5
Innovation Center
82
82
52.9
53.2
Corporate Activities
16
28
21.1
27.5
Total continuing operations
464
451
6.0
6.4

Table 9: Workforce at 31 December

Workforce at 31 December
headcount
2015
2014
     
Nutrition
12,930
10,857
Performance Materials
4,477
4,496
Innovation Center
556
675
Corporate Activities
2,787
2,999
Total continuing operations
20,750
19,027
Discontinued operations
-
2,324
     
Total DSM
20,750
21,351