DSM-Firmenich stock raises 2026 sales outlook after Q3 growth

Published on 11/05/2026 at 11:14 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

DSM-Firmenich stock enters the final quarter with stronger growth expectations after a volume-led trading update. Margin and cash targets remain intact.

Growth Outlook Strengthens

DSM-Firmenich delivered volume-led growth across continuing operations in the third quarter.
Management raised its full-year sales outlook while retaining its margin and cash-conversion targets.
The group is progressing with cost savings, restructuring and the next phase of its strategic plan.

DSM-Firmenich, CH1216478797, Illustration mit AI erstellt.

DSM-Firmenich raised its full-year sales outlook on Wednesday, November 4, after delivering volume-led growth in the third quarter. The company said continuing operations maintained momentum across its portfolio, while its shares traded at 110.90 euros on Lang & Schwarz at 11:08 CET on Thursday, November 5.

The company now expects 2026 like-for-like sales growth of around 5%, compared with its previous range of 2% to 4%. The change followed third-quarter like-for-like sales growth of 5%, which matched the year-to-date pace. According to the company's trading update, the increase was driven by volumes, high win rates on customer briefs and strong performance among regional and local accounts.

Margin Holds Despite Currency Pressure

Third-quarter sales from continuing operations reached 2,368 million euros, up from 2,238 million euros a year earlier. Adjusted EBITDA rose 8% on a like-for-like basis to 482 million euros from 458 million euros, while the adjusted EBITDA margin advanced sequentially to 20.4%. The margin remained slightly below the 20.5% recorded in the year-earlier quarter, with foreign-exchange movements creating an 80-basis-point headwind.

Management kept its full-year adjusted EBITDA margin target at around 20% and its adjusted gross operating free cash flow-to-sales target at 11% to 12%. Chief Executive Dimitri de Vreeze said all businesses contributed well and described conditions entering the fourth quarter as supportive, citing a healthy innovation pipeline, high win rates and continued sales growth.

Portfolio Momentum And Capital Discipline

The update covers continuing operations after the planned divestment of Animal Nutrition & Health. DSM-Firmenich said its 2026-2028 action plan remains on track, with cost savings, restructuring, pricing actions, disciplined capital allocation and tighter working-capital management supporting the next phase of performance improvement.

The company also said it completed its share repurchase program on September 30, buying 7,169,147 shares for total consideration of 540 million euros. Shares acquired for capital reduction are expected to be cancelled by the end of the first quarter of 2027, which would reduce issued shares by approximately 2.6%.

Investors will next receive the company's full-year 2026 results on February 18, 2027. The outlook upgrade improves the near-term growth profile, while currency movements, regional demand and execution of the cost program remain relevant factors for the shares.

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