Health, Nutrition & Bioscience
Throughout 2022, we made rapid progress on DSM’s strategic journey toward becoming a company focused on Health, Nutrition & Bioscience, using our resources and capabilities to address the urgent societal and environmental consequences associated with how the world currently produces and consumes food.
Consequently, and in parallel, we completed a review of strategic options for our two Materials businesses and reached sale agreements whereby they will each be core to the respective growth ambitions of new owners. For more detail, see the section on Materials. During the same period, we announced our intention to enter into a merger of equals with Firmenich, the world’s largest privately-owned fragrance and taste company. This new chapter in our history is introduced in the Co-CEO letter.
Our evolution as a purpose-led, science-based company remains anchored in developing customer-centric, market-ready quality solutions. At the same time, we continue to prudently manage costs and drive operational excellence to support further growth.
Following changes in 2021, our Health, Nutrition & Bioscience organization is now structured into three distinct end-market-focused Business Groups:
- Animal Nutrition & Health
- Health, Nutrition & Care
- Food & Beverage
Each business has clear opportunities to benefit the health of people and the health of the planet which, by addressing major societal and environmental challenges, underpin our exciting future potential. Each business is also closely aligned with its respective customers and, through the integration of dedicated research and development teams, is fully equipped to rapidly develop impactful, science-based innovations. We carefully consider complementary acquisitions when they can further strengthen our capabilities or expand our customer offering in line with our long-term strategy.
By improving the impact of our own operations, enabling health and nutrition solutions for our customers, and advocating for making global food systems sustainable, we positively contribute to achieving the United Nations Sustainable Development Goals while at the same time improving our financial performance. By delivering on all aspects of our People, Planet and Profit ambitions, we seek to provide value for all our stakeholders.