DSM’s animal portfolio remains strong despite China’s lower performance
The company’s Animal Nutrition and Health division increased 16% in the first half of the year.
The Dutch chemical company reported earnings in the segment of €1.83 billion in H1 2022 against €1.58 billion in the same period last year.
According to the company, its animal nutrition and health portfolio performed well with the exception of China, where consumer demand is suffering as a result of the COVID-19 lockdowns.
In late 2020, the company expanded its operations in the Asian country with the opening of its seventh premix plant, with an expected annual production of 120,000 metric tons.
The group, which produces vitamins and food supplements, saw a strong start to the year as solid demand and price increases offset escalating inflation. For the first six months of the year, DSM reported global sales of €4.12 billion, a 17% rise.
“We see continued good market demand, positive pricing momentum and favorable foreign exchange effects supporting our full-year outlook,” DSM’s co-chief executives Geraldine Matchett and Dimitri de Vreeze noted.