Interim report Q1 2025

Strong start to the year and confirmed full-year outlook

Ester Baiget, President & CEO:  "We delivered strong sales growth and earnings in the first quarter, with all four sales areas showing double-digit growth. Growth was driven by strong innovation especially in emerging markets, and with a continued broad pull for our solutions in developed markets. Synergies are materializing as expected and we are confirming the full-year outlook. We continue to see solid demand across the business, and our regional presence and resilient global setup enable us to respond with agility in these dynamic times”.

• Strong organic sales growth of 11% including ~1pp from price. All sales areas with double-digit organic sales growth. Emerging markets organic sales growth at 15% and developed markets at 9%.
• Adjusted EBITDA margin at 38.3%, up by 310bps.
• Adjusted net profit increased by 27%.
• NIBD/EBITDA at 1.1x.
• Announcement on February 11 to acquire dsm-firmenich’s part of the feed enzyme alliance at a EUR 1.5bn cash consideration, expected to close in the second quarter.
• Andrew Taylor announced on April 22 as new EVP Food & Beverages, joining the company no later than September 1, 2025.
• 2025 outlook maintained: 5-8% organic sales growth (6-9% excluding the exit from certain countries) and an adjusted EBITDA margin between 37-38% despite current currency headwinds.

Please read the full announcement in PDF

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• 2025_22_Q1_Interim report