Nutrition performance 2021
Nutrition delivered a very good performance, with 8% volume-driven organic growth. This business cluster demonstrated its superior operational performance and reliability as a supplier as it successfully navigated significant supply chain and logistical disruptions that affected the market throughout the year, strengthening its customer relationships in the process. A 4% contribution from acquisitions, offset by a 2% negative foreign exchange effect, led to a 10% increase in total sales in 2021.
Nutrition reported 8% growth in Adjusted EBITDA largely related to increased volumes, with a 6% contribution from acquisitions and a 4% negative foreign exchange effect. The Adjusted EBITDA margin of 20.6% was slightly down compared to 2020 (21.0%), reflecting some inflationary cost effects toward the end of the year.
x € million |
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2021 |
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2020 |
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Net sales from continuing operations: |
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DSM Nutritional Products: |
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- Animal Nutrition & Health |
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3,502 |
|
3,025 |
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- Human Nutrition & Health |
|
2,207 |
|
2,143 |
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- Personal Care & Aroma Ingredients |
|
484 |
|
404 |
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- Other1 |
|
122 |
|
145 |
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Total DSM Nutritional Products |
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6,315 |
|
5,717 |
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DSM Food Specialties |
|
716 |
|
648 |
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Total Nutrition |
|
7,031 |
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6,365 |
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Organic sales growth (in %) |
|
8 |
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6 |
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Adjusted EBITDA |
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1,447 |
|
1,338 |
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Adjusted operating profit |
|
940 |
|
919 |
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Capital expenditure |
|
488 |
|
441 |
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Capital employed at 31 December |
|
9,550 |
|
8,305 |
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ROCE (in %) |
|
10.6 |
|
12.6 |
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Adjusted EBITDA margin (in %) |
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20.6 |
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21.0 |
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R&D expenditure |
|
257 |
|
241 |
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Workforce at 31 December (headcount) |
|
16,091 |
|
15,838 |
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Net sales bridge 2021
x € million
"Our nutrition business made significant progress in 2021 in terms of both operational performance and the acceleration of our strategic journey. Core to this are our exciting innovation platforms that help drive health for people and planet."
