Dsm Firmenich Ag (DSMFF) Q4 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 Vreese, our CEO, and Ralf Smijts, our CRO. This morning we published our full year 2025 results on a restated basis, 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. And as usual, as a reminder, the sell side analysts who want to ask questions will need to register via the questioners link, which they can find on the website in the financial calendar. Dimitri, the floor is yours. Thank you, Dave. And welcome to everybody here in this call. Nice to see you yet again. Busy week for us, busy week for you. The NH call last Monday, now the full year results. And you've seen that there are a lot of numbers there. So, Ralph, we'll lead you through in a minute. And then next week, our integrated annual report. And as you've seen in the press release, we're also looking forward to host our investor event on March 12th. the next phase of DSM3 as a consumer company. Now, let me go through a few of the highlights of the divestment of ANH to CVC. We explained that on Monday, but it was an important piece of our journey. And I think it's clear to say that it's really focusing on these amphibians to become a key player in nutrition, health and beauty. And that's also where the value creation is. So an important point was the signing of the divestment of ANH to CVC. And we constructed a deal where we have mitigated the downside risks in the ANH business, as well as the volatility. One of the strategic reasons that we announced that we wanted to divest and we have implemented on that. Now, we have created a deal st...