Royal DSM NV said its first-quarter normalized net income amounted to 69 euro cents per share, compared with the S&P Capital IQ consensus estimate of 81 cents per share.

EPS climbed 49.1% year over year from 46 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €120.9 million, a gain of 49.5% from €80.9 million in the prior-year period.

The normalized profit margin rose to 5.6% from 4.2% in the year-earlier period.

Total revenue grew 12.9% on an annual basis to €2.16 billion from €1.91 billion, and total operating expenses grew 12.1% from the prior-year period to €1.94 billion from €1.73 billion.

Reported net income grew 81.5% from the prior-year period to €147.0 million, or 84 cents per share, from €81.0 million, or 46 cents per share.