Dsm Firmenich Ag (DSMFF) Q2 2025 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 Vreze, our CEO, and Ralf Smijts, our CFO. This morning we published our first half 2025 results together with a presentation to investors which you can find on our website. Here you can also find our disclaimers about forward-looking statements. Following Dimitri's and Ralf's opening comments, we will open the line for questions. Importantly, and as a reminder, self-help analysts who want to ask questions will need to register via the questions link, which they can find on our website in the financial calendar. If you have not done so yet, you can still switch now. And with that, Dimitri, please go ahead. Thank you, Dave. And indeed, welcome to everybody on this, I think, very busy day for you guys. Appreciate your dialing in. And I want to start with a little bit of the journey we're at before we're diving into H1 and 2025. So you know that we have depicted our journey, and we are moving rapidly towards the accelerate phase. I'm very happy to see that we made quite some progress during the first half, and we've also seen that we've closed the feed enzyme business in the whole exit of animal nutrition and health, and also something in the tuning portfolio. You've also seen that we've made quite some progress on the integration synergies. We promised 200 million, 100 million last year, 100 million this year. We're delivering on that. The same for the vitamin transformation, two times 100. Also, that is in progress to deliver another 100 million this year, and we made quite some progress on the portfolio. On the tuning, the agro-ingredients still left. We're going to do that this year. and you've also seen the A and H separation, that exit process is advancing. And that's also the onl...