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Koninklijke DSM profit misses consensus by 40.9% in Q2

Royal DSM NV said its second-quarter normalized net income amounted to 46 euro cents per share, compared with the S&P Capital IQ consensus estimate of 78 cents per share.

EPS rose 20.4% year over year from 38 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €80.4 million, an increase of 22.5% from €65.6 million in the year-earlier period.

The normalized profit margin rose to 4.1% from 3.7% in the year-earlier period.

Total revenue grew 12.0% year over year to €1.97 billion from €1.75 billion, and total operating expenses grew 13.2% year over year to €1.81 billion from €1.60 billion.

Reported net income declined year over year to €72.0 million, or 41 cents per share, from €73.0 million, or 43 cents per share.