Dsm Firmenich Ag (DSMFF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and thank you for joining today's call. I'm sitting here with Dimitri de Breze, our CEO, and Rolf Smeijts, our CFO. We published this morning our trading update for the first quarter, which you can find on our website. Here you can also find our disclaimers about forward-looking statements. Following Dimitri's and Rolf's opening comments, we will open the line for questions as usual. Important to remind. Also, if you yourself have analysts who want to ask questions, you have to register via the questions link, which they can find on our website in the Financial Calendar. And with that, Dimitri, you can start. Thank you, Dave. Thank you, Dave. Thank you for joining this call. And I will start with a few brief introductory remarks and then hand over to Ralph, who will talk you through. We'll keep it short. but allowed plenty of time for questions. So, Deezer and Fimley's made a solid start for 2026 in its continuing business against a highly volatile microeconomic backdrop. We delivered a 4% like-for-like sales growth, which was entirely volume-driven, and this represents really good performance across the group, especially in perfumery and beauty. We've also announced today that we will have a dual listing of the shares on the six Swiss Exchange as of May 21st of this year. And with a fully good start of the year, we have maintained our outlook for the full year 2026. Now, talking about the full year outlook 2026, if you go to the next slide, just as a reminder, the outlook is 2% to 4% organic sales growth, about 20% EBITDA quality, and 11% to 12% cash conversion, we've seen with a solid start of the year, with a good quarter one, and also a solid start into Q2, we feel that with that start, we feel confident in maintaining the outlook for the full year. ...