dsm-firmenich delivered 5% like-for-like (LFL) sales growth in the third quarter of 2026, prompting the company to raise its full-year growth outlook as volume-led momentum continued across its businesses.
Sales from continuing operations reached €2.368 billion, compared with €2.238 billion in Q3 2025. Adjusted EBITDA increased 8% LFL to €482 million, while adjusted EBITDA margin improved sequentially to 20.4%. The company attributed growth to strong customer-brief win rates and performance across regional and local accounts.
The company reported positive contributions from all three business units: Perfumery & Beauty, Taste, Texture & Health, and Health, Nutrition & Care. Overall, LFL sales growth reached 5% for the quarter, matching the year-to-date rate. Adjusted EBITDA rose 8% in the quarter and 7% for the first nine months of 2026.
Despite the improvement in profitability, adjusted EBITDA margin was 20.4%, slightly below the 20.5% recorded in Q3 2025. Year-to-date margin also edged down to 19.7%, compared with 19.8% in the prior-year period. Foreign exchange movements had an 80-basis-point negative effect on the quarterly margin comparison. The company also continues to address cost inflation through pricing actions, savings initiatives and restructuring.
With the stronger sales performance, dsm-firmenich increased its full-year 2026 LFL sales growth outlook to approximately 5%, from its previous forecast of 2% to 4%. It maintained its adjusted EBITDA margin target of around 20% and cash conversion target of 11% to 12% of sales.
CEO Dimitri de Vreeze said business conditions remain supportive heading into the fourth quarter, pointing to a healthy innovation pipeline, high customer win rates and continued sales growth. The company's 2026–2028 strategic action plan, focused on accelerating financial performance, remains on track.
The trading update follows the October 19 election of Richard Ridinger as chairman of dsm-firmenich's board of directors. Ridinger succeeds Thomas Leysen, who retired from the board after playing a pivotal role in shaping the company's strategic direction.
An independent board member since 2023, Ridinger brings executive and board-level experience across pharmaceuticals, home and personal care, and nutrition and health. He was also elected to the board's Compensation Committee.
The leadership transition comes as dsm-firmenich focuses on accelerating growth and performance across its three continuing business units following the announced divestment of Animal Nutrition & Health. The company's priorities include driving growth and synergies, expanding EBITDA margins and improving cash conversion.
