Executive summary
Sustainability, global warming and pollution are all very active themes that are only set to grow in importance in the coming years. DSM (OTC:OTCQX:RDSMY) (primary listing in Amsterdam AMS:DSM) is one of the leading players in various fields of sustainability. While the company offers exposure to favourable global trends, excellent corporate governance, top class management, solid capital allocation, a clean balance sheet and interesting growth prospects, the market does not seem to fully value these qualities.
We think DSM is misunderstood by the market, which still views the company as a