External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

Key points (machine generated)<ul><li>DSM-Firmenich was formed through a €20 billion merger between DSM and Firmenich, combining expertise in nutrition, health, and fragrances.</li><li>Concerns arose about the merger's synergies due to minimal overlap between the companies and skepticism about achieving targeted revenue and EBITDA synergies.</li><li>The merger coincided with a downturn in DSM's markets, leading to falling vitamin prices, but it also presents a unique opportunity for the new entity.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)DSM-Firmenich was formed through a €20 billion merger between DSM and Firmenich, combining expertise in nutrition, health, and fragrances.Concerns arose about the merger's synergies due to minimal overlap between the companies and skepticism about achieving targeted revenue and EBITDA synergies.The merger coincided with a downturn in DSM's markets, leading to falling vitamin prices, but it also presents a unique opportunity for the new entity.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Dsm Firmenich Ag (DSFIY) - Tuesday, Jun 3, 2025

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<ul>
<li>dsm-firmenich | increases shareholding in Yantai DSM Andre Pectin Company dsm-firmenich completed the shareholding increase in Yantai DSM Andre Pectin Company to 90.5% from 75%.</li>
<li>Andre Pectin is a leading specialty food ingredient producer. The remaining 9.5% of the shares in Andre Pectin continue to be held by Rich Spring Holdings.</li>
<li>DSM acquired a 29% stake in Andre Pectin in 2013. In 2019 it raised its interest purchasing an additional 46% stake in Andre Pectin for a consideration of about EUR 150m.</li>
</ul>


dsm-firmenich | increases shareholding in Yantai DSM Andre Pectin Company dsm-firmenich completed the shareholding increase in Yantai DSM Andre Pectin Company to 90.5% from 75%.
Andre Pectin is a leading specialty food ingredient producer. The remaining 9.5% of the shares in Andre Pectin continue to be held by Rich Spring Holdings.
DSM acquired a 29% stake in Andre Pectin in 2013. In 2019 it raised its interest purchasing an additional 46% stake in Andre Pectin for a consideration of about EUR 150m.


What's New(s) in Amsterdam - 3 April (dsm-firmenich | Avantium)

<ul><li>In this edition: • ING | less than expected drop in earnings; new EUR 1.6bn share buyback • dsm-firmenich (‘DSFIR’) | results broadly in line; lowers FY25 guidance • Arcadis | 25Q3 results lagging market consensus (even helped by lower depreciation rate) • General Elections | D66 emerges as big winner; hard to predict new coalition</li></ul>

In this edition: • ING | less than expected drop in earnings; new EUR 1.6bn share buyback • dsm-firmenich (‘DSFIR’) | results broadly in line; lowers FY25 guidance • Arcadis | 25Q3 results lagging market consensus (even helped by lower depreciation rate) • General Elections | D66 emerges as big winner; hard to predict new coalition

What's News in Amsterdam - 30 October (dsm-firmenich | ING | Arcadis | General Elections)

<ul>
<li>EU member states have unanimously backed a Dutch-led proposal to commit tens of billions of euros in future support for the European chip industry, underscoring the sector’s strategic importance.</li>
<li>Outgoing Dutch Economic Affairs Minister Vincent Karremans stressed that continued investment is a “pure necessity” to reduce dependence on the US and China and to safeguard Europe’s economic and geopolitical resilience.</li>
<li>The initiative calls for a follow-up to the 2023 EU Chips Act, which mobilized EUR 43bn for semiconductor R&amp;D, start-ups, and manufacturing capacity.</li>
</ul>


EU member states have unanimously backed a Dutch-led proposal to commit tens of billions of euros in future support for the European chip industry, underscoring the sector’s strategic importance.
Outgoing Dutch Economic Affairs Minister Vincent Karremans stressed that continued investment is a “pure necessity” to reduce dependence on the US and China and to safeguard Europe’s economic and geopolitical resilience.
The initiative calls for a follow-up to the 2023 EU Chips Act, which mobilized EUR 43bn for semiconductor R&amp;D, start-ups, and manufacturing capacity.


<ul><li>In this edition: • ABN Amro / ING | both exposed to UK altnet financing • dsm-firmenich | new Executive Committee role seems to signal appetite for M&A • InPost | buys 20,000 APMs from and a minority stake in Bloq.it • Corporate agenda | week 36 – 39</li></ul>

In this edition: • ABN Amro / ING | both exposed to UK altnet financing • dsm-firmenich | new Executive Committee role seems to signal appetite for M&A • InPost | buys 20,000 APMs from and a minority stake in Bloq.it • Corporate agenda | week 36 – 39

What's News in Amsterdam - 1 September (ABN Amro/ING | dsm-firmenich | InPost | Corporate calendar)

Switzerland

DSM-Firmenich AG is an innovator in nutrition, health, and beauty products. The Company reinvents, manufactures, and combines vital nutrients, flavors, and fragrances. DSM-Firmenich serves customers worldwide.

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DSM-Firmenich (DSFIR NA)

Dsm Firmenich Ag (DSFIY) - Tuesday, Jun 3, 2025

DSM-Firmenich, formed from a €20 billion merger, faces skepticism over integration and synergy goals amid market challenges, yet presents a unique...

Value Investors Club (VIC)

What's New(s) in Amsterdam - 3 April (dsm-firmenich | Avantium)

dsm-firmenich | increases shareholding in Yantai DSM Andre Pectin Company dsm-firmenich completed the shareholding increase in Yantai DSM Andre...

The IDEA!

What's News in Amsterdam - 30 October (dsm-firmenich | ING | Arcadis | General Elections)

In this edition: • ING | less than expected drop in earnings; new EUR 1.6bn share buyback • dsm-firmenich (‘DSFIR’) | results broadly in line;...

The IDEA!

What's News in Amsterdam

EU member states have unanimously backed a Dutch-led proposal to commit tens of billions of euros in future support for the European chip industry,...

The IDEA!

What's News in Amsterdam - 1 September (ABN Amro/ING | dsm-firmenich | InPost | Corporate calendar)

In this edition: • ABN Amro / ING | both exposed to UK altnet financing • dsm-firmenich | new Executive Committee role seems to signal appetite...

The IDEA!

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