DSM-Firmenich raises outlook as second-quarter momentum drives full-year optimism

Swiss-Dutch ingredients group reports robust second-quarter growth, signalling confidence to push full-year expectations higher amid ongoing restructuring and divestments.

DSM-Firmenich has upgraded its tone after a stronger-than-expected second quarter, saying sales momentum in the first half of 2026 was robust enough to push full-year growth towards the top end of its guidance range.

The Swiss-Dutch ingredients group, whose businesses span vitamins, health and nutrition products, reported second-quarter revenue of €2.39bn, up 6% from a year earlier. First-half sales reached €4.66bn, a 5% increase. Adjusted EBITDA rose 10% to €466m in the quarter, lifting the margin to 19.5%, slightly ahead of market expectations.

Chief executive Dimitri de Vreeze said the company had delivered “good, volume-driven organic growth” across all divisions in the first six months, reflecting the resilience of its portfolio and disciplined execution in a volatile macroeconomic backdrop.

The company kept its 2026 outlook unchanged, with like-for-like sales growth still expected at 2-4% and an adjusted EBITDA margin of about 20%. However, management now expects growth to land at the upper end of that range.

DSM-Firmenich is also pressing ahead with restructuring. The company expects the programme, alongside the sale of its Animal Nutrition & Health unit to CVC Capital Partners, to eliminate roughly 1,000 jobs over 18-24 months and cut costs by about €100m. It has said the broader restructuring should lift profitability by a further percentage point in 2027.