Review of business in 2016

In 2016, DSM's activities were grouped into three clusters: Nutrition, Materials and Innovation Center. In addition, DSM reports separately on Corporate Activities. Results presented in this section (and elsewhere in the management report) relate to consolidated activities only (therefore non-consolidated partnerships are excluded).

Net sales

x € million
2016
2015
   
Nutrition
5,169
4,963
Materials
2,513
2,528
Innovation Center
167
155
Corporate Activities
71
76
Total continuing operations
7,920
7,722
Discontinued operations
-
1,213
   
Total DSM
7,920
8,935

Adjusted EBITDA

x € million
2016
2015
   
Nutrition
931
822
Materials
435
384
Innovation Center
1
(9)
Corporate Activities
(105)
(122)
Total continuing operations
1,262
1,075
Discontinued operations
-
95
   
Total DSM
1,262
1,170

Adjusted EBITDA margin

in %
2016
2015
   
Nutrition
18.0
16.6
Materials
17.3
15.2
Total continuing operations
15.9
13.9
Discontinued operations
-
7.8
   
Total DSM
15.9
13.1

Adjusted operating profit (EBIT)

x € million
2016
2015
   
Nutrition
645
535
Materials
311
250
Innovation Center
(24)
(43)
Corporate Activities
(141)
(169)
Total continuing operations
791
573
Discontinued operations
-
77
   
Total DSM
791
650

Capital employed at 31 December

x € million
2016
2015
   
Nutrition
5,537
5,309
Materials
1,807
1,723
Innovation Center
576
560
Corporate Activities
(31)
(39)
Total continuing operations
7,889
7,553
Discontinued operations
-
-
   
Total DSM
7,889
7,553

ROCE

in %
2016
2015
   
Nutrition
12.0
10.3
Materials
17.6
14.4
Total continuing operations
10.4
7.6
Discontinued operations
-
19.0
   
Total DSM
10.4
8.2

Capital expenditure

x € million
2016
2015
   
Nutrition
331
322
Materials
106
98
Innovation Center
32
34
Corporate Activities
16
24
Total continuing operations
485
478
Discontinued operations
-
92
Total, accounting based
485
570
   
Non-cash items
(9)
(27)
Customer funding
(1)
(7)
   
Total, cash based
475
536

R&D expenditure (including associated IP expenditure)

 
x € million
as % of net sales
 
2016
2015
2016
2015
     
Nutrition
205
223
4.0
4.5
Materials
124
143
4.9
5.7
Innovation Center
75
82
44.9
52.9
Corporate Activities
22
16
31.0
21.1
Total continuing operations
426
464
5.4
6.0

Workforce at 31 December

headcount
2016
20151
   
Nutrition
13,260
12,978
Materials
4,460
4,472
Innovation Center
619
630
Corporate Activities
2,447
2,716
Total continuing operations
20,786
20,796
Discontinued operations
-
-
   
Total DSM
20,786
20,796

1 Corrected for comparability