Why did DSM-Firmenich report lower first-quarter earnings and revenue despite maintaining its full-year outlook?

DSM-Firmenich reported a 6% year-over-year decline in first-quarter adjusted EBITDA to €434 million and a 3% drop in sales to €2.28 billion primarily due to negative currency effects—6% on sales and 9% on adjusted EBITDA—while underlying performance remained strong, with 4% year-over-year growth in sales volumes, especially in perfumery and beauty, and some order advancement at quarter-end; the company maintained its 2026 outlook because this robust like-for-like growth and resilient operational execution offset currency headwinds, and it expects only limited impact from the Middle East conflict in the second half.

What factors contributed to the decline in DSM-Firmenich’s adjusted EBITDA margin, and how is the company responding?

The adjusted EBITDA margin slipped to 19.1% from 19.7% year-earlier due to currency effects and 'some higher freight and energy costs' resulting from the Middle East conflict; in response, DSM-Firmenich plans to address cost inflation through procurement optimization, operational agility, and pricing actions, while reaffirming its full-year guidance of an adjusted EBITDA margin of about 20%.

DSM-Firmenich Maintains Outlook Despite Earnings Declines

May 6, 2026

DSM-Firmenich reported a 6% drop in Q1 adjusted EBITDA and 3% sales decline due to currency effects, yet maintained full-year guidance citing robust underlying volumes in perfumery and beauty segments.

chemweek

2025-10-30

DSM-Firmenich misses estimates on currency effects, trims guidance

2025-12-03

DSM-Firmenich completes €1.08B share buyback program

2026-01-28

DSM-Firmenich, Korea’s ASTech Forge Partnership to Advance Global UV Filters Market

2026-02-09

Private Equity Firm CVC to Acquire DSM-Firmenich’s Animal Nutrition and Health Business for €2.2 Billion

2026-02-12

DSM-Firmenich Q4 Earnings Decline Attributed to Currency Effects