Personal Care Products

Estee Lauder Companies is sharpening its focus on product innovation under its Beauty Reimagined strategy, with innovation accounting for 23% of fiscal 2026 sales. The company expects innovation's contribution to sales to increase 200-250 basis points in fiscal 2027, led by skin care. In fiscal 2026, innovation supported growth across key categories, with La Mer benefiting from The NEW Rejuvenating Eye Cream, Estee Lauder gaining from Advanced Night Repair and Revitalizing Supreme+, and makeup and fragrance getting boosts from M·A·C, TOM FORD, Le Labo and KILIAN PARIS. Looking ahead, Clinique and The Ordinary have introduced PDRN-based innovations, the Estee Lauder brand has unveiled longevity and nighttime skin care offerings, and new fragrance launches are coming from Balmain Beauty, KILIAN PARIS, Jo Malone London and TOM FORD. Shares of the Zacks Rank #3 (Hold) company have gained 14.1% in the past three months, outperforming the broader Consumer Staples sector and the S&P 500.

KGI Securities (Thailand) said in an analysis that it expects NEO to report third-quarter 2026 net profit of 234 million baht, up 298% year on year and 12% quarter on quarter. The strong year-on-year growth is expected to be driven by higher sales, better gross margin and a lower SG&A-to-sales ratio, while the quarter-on-quarter growth is expected to be driven by higher sales and a lower SG&A-to-sales ratio as well. If profit meets expectations, first-nine-month 2026 profit will be 538 million baht, up 36% year on year, accounting for 83% of analysts' full-year profit estimate. NEO's third-quarter 2026 sales are estimated to be a record high, growing 21% year on year and 4% quarter on quarter to 3.2 billion baht, driven by full-quarter recognition of the positive impact of the government's Thai Chai Thai Plus scheme, the success of new product development and the relaunch of existing products, as well as a price increase of about 4-5% from July 2026 onward. GPM in the third quarter of 2026 is expected to improve to 38.2%, up 1.2 points year on year but down 0.2 points quarter on quarter, on a more appropriate product mix. The SG&A-to-sales ratio is expected to fall to 28.5%, down 5.2 points year on year and 0.9 points quarter on quarter, mainly due to lower expenses related to NPD, as the company launched 35 SKUs of new products in the third quarter of 2026, compared with 97 SKUs in the third quarter of 2025 and 46 SKUs in the second quarter of 2026. Analysts maintain their 2026 profit estimate at 648 million baht, up 15% year on year, and their 2027 estimate at 729 million baht, up 13% year on year. They see fourth-quarter 2026 sales growing year on year on the remaining period of the co-payment scheme, but likely slowing quarter on quarter from the high third-quarter base and weaker demand due to the impact of flooding. In terms of GPM, it may fall quarter on quarter from full-quarter recognition of depreciation from the new factory. Overall, fourth-quarter 2026 profit is expected to decline both year on year and quarter on quarter. The analyst gives a 2027 target price of 26.70 baht, based on the previous PE of 11 times. The share price has already risen about 14% in the past four weeks, reflecting that the market has largely priced in the expected strong third-quarter 2026 results, leaving limited upside to the target price. The investment recommendation on NEO is therefore downgraded to only "hold" from "buy."

NEO Corporate Public Company Limited, or NEO, has announced it is pressing ahead with a brand-building strategy to reach a new generation of consumers, particularly Gen Z and young consumers, by turning consumer insight into brand collaborations and community marketing, elevating everyday consumer products from functional solutions to part of consumers' lifestyles and identities. Nichamon Thakolsri, Deputy Chief Executive Officer for Business Innovation, said competition in the consumer goods or FMCG industry is no longer limited to product quality and functionality, as brands must understand the fast-changing behaviour and culture of younger consumers. Under the NEO Collab Power strategy, the company has partnered with allies and artists on several projects, including D-nee x Wiggle Wiggle, which brought Korean-style characters into ready-to-use packaging with Ink Waruntorn as presenter; D-nee Kids x Jolly Bear, which used characters and fragrance elements to create a new experience for children's products; the Lucky Fans activity for the Fineline brand, which brought Phuwin Tangsakyuen in to build engagement with its consumer and fan base; the BOW x LYKN project for the Eversense brand, which paired T-Pop boy band LYKN with Bow Maylada in a music video for the song Lock Mong (You Shine I Choose); and TROS x BENZILLA, which took the LOOOK character by street artist BENZILLA and extended it into men's personal care products. Nichamon said the goal of collaboration is not merely to create a short-term buzz but to build long-term relationships through community marketing, opening a space for consumers with shared interests to engage continuously with the brand, turning general customers into committed consumers who grow alongside the brand over the long term.

Neo Corporate Public Company Limited, or NEO, is pushing ahead with elevating its FMCG products beyond function to become Lifestyle Items through Brand Collaboration and Community Marketing strategies aimed at Gen Z and Young Consumers under the concept of Always Young. Miss Nichamon Thakolsri, Deputy Chief Executive Officer for Business Innovation at NEO, said the FMCG industry today must secure a place in the hearts of the new generation of consumers, competing not only on quality or function. This year the company generated strong response through its NEO Collab Power projects, such as D-nee x Wiggle Wiggle with presenter Ink Waruntorn, D-nee Kids x Jolly Bear, the Fine Line brand with Phuwin Tangsakyuen, the BOW x LYKN project for the Eversense brand, and TROS x BENZILLA. KGI Securities said NEO's sales momentum remains strong, with sales in July-August 2026 growing more than 20%, and it expects third-quarter 2026 sales to grow in the double digits, driven by new products, the reintroduction of existing products, a 4-5% price increase, and the Thai Help Thai Plus program. Meanwhile, the price of crude palm kernel oil, or CPKO, in August 2026 fell 7% month-on-month to 2,264 US dollars per tonne, supporting an expected improvement in third-quarter 2026 gross margin to 38-39%. KGI Securities therefore maintained its 2026 net profit forecast at 648 million baht, up 15% year-on-year, and its 2027 forecast at 729 million baht, up 13% year-on-year, while keeping its Buy recommendation with an end-2027 target price of 26.70 baht per share, based on a PE of 11 times.

L'Oréal Group's chief digital and marketing officer, Asmita Dubey, says almost 20% of the company's marketing investments are now AI-led, with ROI measurement already relying heavily on machine learning and AI. Dubey, who has led the beauty giant's digital and marketing organization through the shifts from e-commerce to search, TikTok and social listening, describes an AI strategy built on three pillars: helping employees work with AI, embedding AI across business functions including marketing, research and operations, and understanding how AI is changing the consumer journey. She says the consumer journey is expanding rather than collapsing, with searches that once took a few minutes now stretching to 11 minutes as consumers chat with AI, and L'Oréal has been testing advertising in Google's AI Overviews while working with platforms including OpenAI, Amazon and Alibaba. The company has folded its beauty research into an internal intelligence platform that employees can interrogate conversationally, and it is pursuing generative-engine optimization around authority, scientific content, brand content and product information. Dubey says the plumbing matters as much as the creativity, pointing to standardization of advertising accounts and product data across platforms such as Google and Meta, and notes L'Oréal recently had its 20 senior-most executives create an ad with AI from start to finish.

e.l.f. Beauty has drawn heavy investor attention on Zacks.com, and its Zacks Rank now stands at #1 (Strong Buy). The cosmetics company is expected to post earnings of $0.59 per share for the current quarter, a year-over-year change of -13.2%, while the Zacks Consensus Estimate has moved -0.7% over the last 30 days. For the current fiscal year, the consensus earnings estimate of $3.65 points to a change of +16.6% from the prior year, and for the next fiscal year the consensus estimate of $3.85 indicates a change of +5.5%. The consensus sales estimate of $469.19 million for the current quarter points to a year-over-year change of +36.4%, with $1.97 billion and $2.14 billion expected for the current and next fiscal years. In the last reported quarter, e.l.f. Beauty posted revenues of $479.37 million, up 35.5% year over year, and EPS of $1.75 versus $0.89 a year ago, beating the Zacks Consensus revenue estimate of $426.66 million by 12.35% and the EPS estimate by 146.48%.

Goldman Sachs downgraded German consumer products company Beiersdorf to "sell" from "neutral" on Tuesday and cut its 12-month price target to €73 from €82, saying a recovery in the Nivea brand could take longer than expected as competition from Unilever and L'Oréal intensifies. The stock is down about 20% this year, and Goldman sees no upside to consensus earnings. Goldman expects Beiersdorf's Consumer division to deliver organic sales growth of 2% to 3% over the mid-to-long term, below beauty and household and personal care peers, and forecasts a 3.1% organic sales decline in Consumer in 2026. The broker said it was cautious that higher advertising and promotional spending would materially boost sales, noting Beiersdorf has announced €100 million of additional media spending in the second half, which Goldman called low compared with competitors' marketing budgets. Nielsen data cited by Goldman showed Unilever's Vaseline and L'Oréal's Mixa grew 7% and 22%, respectively, in Europe in the 12 weeks to Sept. 6, while Nivea sales fell 6%. Goldman's 2026-2028 earnings-per-share estimates are 2% to 4% below Visible Alpha consensus, and it forecasts 5% annual compound EPS growth from 2027 to 2029 and a 1% dividend yield. Beiersdorf's Derma business, which includes Eucerin and Aquaphor, remains a stronger area, Goldman said, but accounts for only 20% of Consumer sales, compared with 66% for Nivea based on 2026 estimates. Ahead of third-quarter results due on Oct. 27, Goldman expects group organic sales growth of -1.4%, compared with Visible Alpha consensus of -0.3%, and forecasts Nivea sales to fall 5.5%, citing retailer delistings and weak consumer conditions. Goldman said greater use of Beiersdorf's balance sheet for acquisitions or capital returns could make it more positive on the stock.

Shares of Neo Corporate Public Company Limited, or NEO, rose 4% after analysts raised their target price to 34 baht. At 11:36 a.m., the stock stood at 27.00 baht, up 1.00 baht, or 3.85%, with a high of 27.25 baht and a low of 25.75 baht, on turnover of 30.06 million baht. Dao Securities (Thailand) estimates NEO's net profit for the third quarter of 2026 at 247 million baht, up 321% from the same period a year earlier and up 19% from the previous quarter, marking the highest level in six quarters, driven by a full quarter of impact from the Thai Help Thai Plus stimulus measure and price increases starting in July 2026. For the fourth quarter of 2026, earnings are expected to continue growing year on year as flood conditions begin to ease. Dao Securities estimates NEO's full-year 2026 net profit at 720 million baht, up 28% from a year earlier, with further upside potential to its forecast from the benefits of the Thai Help Thai Plus measure and SG&A expenses that may come in lower than expected. The research team therefore maintains a buy rating on NEO with a target price of 34.00 baht.

PTC agreed to be acquired by Schneider Electric for $205 per share, valuing the software company's equity at more than $22 billion, with the transaction expected to close by the third quarter of 2027. PTC shares surged 36% premarket on the news. Brazilian stocks rallied after right-wing presidential candidate Flavio Bolsonaro edged out incumbent Luiz Inacio Lula Da Silva by around 2 percentage points in Sunday's election, sending the iShares MSCI Brazil ETF up 12% and U.S.-listed shares of Itau Unibanco and Banco Bradesco up more than 13% each. Wells Fargo gained 1% after a Morgan Stanley upgrade to overweight from equal weight, while DraftKings popped over 5% on a Bank of America upgrade to buy from neutral, with analyst Julie Hoover expecting prediction markets to generate $400 million in fees for 2027 and between $200 to $400 million in market making. Estee Lauder rose 2.8% after Barclays upgraded the stock to overweight from equal weight, citing its growth and earnings profile over the next several years.

APCO has launched a new product, BIM AD, for brain health care, building on its expertise in stem cells and immune-boosting innovation derived from mangosteen extract, as it moves into the preventive wellness market. Professor Dr. Picheth Viriyachitra, Chief Executive Officer of Asian Phytocuticals Public Company Limited, or APCO, said on 5 October 2026 that the company plans to publish the research behind this innovation in an international academic journal within October. On marketing plans, the company is focusing mainly on the domestic market, targeting consumers aged 40 and over, and using the BIM Advisor model as a channel to expand its customer base alongside health education. APCO expects the launch of BIM AD to help broaden its customer base in the brain health segment and drive sales growth in the second half of this year.

KAMART, or Carmart Public Company Limited, informed the Stock Exchange of Thailand that its board of directors, at a meeting on October 2, 2026, approved a share buyback program for financial management with a maximum value of no more than 218 million baht. The number of shares to be repurchased will not exceed 30 million shares, representing no more than 2.34% of all issued and paid-up shares. The buyback will be carried out through automatic matching via the exchange's trading system from October 6, 2026 to April 5, 2027, or within six months. For the pricing criteria, the company will take the average share price over the past 30 trading days into consideration, and the buyback price must not exceed 115% of the average closing price over the five trading days preceding the transaction date. The average share price over the past 30 trading days, based on data disclosed by the company, stands at 6.86 baht per share. KAMART stated that the buyback aims to keep the market moving reasonably and to manage the company's liquidity efficiently. After the buyback, shareholders will benefit from higher return on equity, or ROE, and higher earnings per share, or EPS, while the number of shares traded on the exchange will decrease. On its financial position, the company has retained earnings of 817.19 million baht, while liabilities due within six months from the start of the buyback stand at 761 million baht. As of October 1, 2026, net cash flow from operating activities was 728 million baht. The company also expects about 943 million baht in cash flow from operations in the six months after the third quarter of 2026, and therefore assesses that it has sufficient liquidity to repay its debts and carry out the buyback program.

Karmart Public Company Limited, or KAMART, announced that its Board of Directors, at its 5/2569 meeting held on 2 October 2569, approved a share buyback programme for financial management purposes with a maximum value of no more than 218 million baht. The company will buy back no more than 30 million shares, or no more than 2.34% of its total issued and paid-up shares. The buyback will be carried out through the Stock Exchange of Thailand's trading system using the Automatic Order Matching method. The buyback period runs from 6 October 2569 to 5 April 2570.

Shares of Karmart Public Company Limited, or KAMART, jumped sharply by 8.27% after the company's board approved a share buyback program for financial management purposes. As of 11:14 a.m. on October 5, 2026, the price stood at 7.20 baht, up 0.55 baht, or 8.27%, having hit an intraday high of 7.35 baht and a low of 6.95 baht, with trading value of approximately 23.36 million baht. The board resolved on October 2, 2026, to approve a buyback of no more than 30 million shares through trading on the Stock Exchange of Thailand, representing 2.34% of paid-up shares, with a maximum buyback value of 218 million baht. The program will run from October 6, 2026, to April 5, 2027. The buyback is intended for the company's financial management and has helped fuel interest in KAMART shares during this morning's trading session.

Asian Phytocuticals Public Company Limited, or APCO, has launched BIM AD, a new product for brain health care, building on its expertise in immunotherapy from mangosteen extract to expand its portfolio in the Brain Health segment and move into the preventive wellness market. Professor Dr. Pichet Wiriyachitra, Chief Executive Officer, said BIM AD was developed by combining knowledge of stem cells and immunotherapy innovation through the concept of stimulating stem cells involved in the body's tissue creation and repair processes, aiming to support brain health care and long-term internal organ recovery. The company plans to publish the research on this innovation in an international academic journal within October. For its marketing plan, the company will focus mainly on the domestic market, targeting consumers aged 40 and over, and will use the BIM Advisor model as a channel to expand its customer base alongside health care education. Professor Dr. Pichet said APCO is a leader in stem cell care and recovery using natural innovations, and he believes the launch of BIM AD will help expand its customer base in the Brain Health segment and drive sales growth in the second half of this year.

Shares of Karmart Public Company Limited, or KAMART, climbed 8.27% after the company's board approved a share buyback program for financial management. At 10:35 a.m., the stock stood at 7.20 baht, up 0.55 baht, with a high of 7.35 baht and a low of 6.95 baht, on trading value of 21.70 million baht. The buyback sets a maximum amount to be determined by management, but no more than 30 million shares, representing no more than 2.34% of all issued and sold shares. The buyback period runs from October 6, 2026 to April 5, 2027.

Asian Phytocuticals Public Company Limited, or APCO, has launched a new product, BIM AD, for brain health care, building on its knowledge of immunotherapy from mangosteen extract to expand its portfolio in the Brain Health segment and tap the Preventive Wellness market, in line with the growing trend of consumers placing greater emphasis on preventive health care. Professor Dr. Picheth Viriyachitra, Chief Executive Officer, said BIM AD was developed by extending stem cell knowledge combined with immunotherapy innovation from mangosteen extract, through the concept of stimulating stem cells involved in the body's tissue creation and repair processes, aiming to support brain health care and long-term internal organ recovery. The company plans to publish the research on this innovation in an international academic journal within October. As for its marketing plan, the company will focus mainly on the domestic market, targeting consumers aged 40 and above, and using the BIM Advisor model as a channel to expand its customer base, alongside providing accurate knowledge and information about health care. This is expected to help broaden its customer base in the Brain Health segment and drive sales growth in the second half of this year.

KAMART Public Company Limited, or KAMART, disclosed that its board of directors meeting approved a share buyback program for financial management purposes, with the maximum amount to be used for the buyback to be determined by management, but not exceeding 30 million shares, representing no more than 2.34 percent of total issued and paid-up shares. The buyback period is set from October 6, 2026 to April 5, 2027.

Betaini's self-developed injectable sodium hyaluronate solution BTN001 has officially received approval from the National Medical Products Administration, obtaining a Class III medical device registration certificate with registration number 20263131919. This is the group's first self-developed Class III medical device approved for market. Institutional research reports note that Betaini, leveraging its Winona sensitive-skin base and Acoman clinical channel, uses BTN001 to close the loop of pre-operative stabilization, intra-operative injection, and post-operative repair, strengthening its full-cycle medical aesthetic service capability. The new product is restricted to medical institutions, with high barriers and large pricing space, and is expected to open a second growth curve. In terms of shareholder returns, as of August 31, 2026, the company had cumulatively repurchased 3.6997 million shares, accounting for 0.8734% of total share capital, with a total transaction amount of approximately 120 million yuan. At the same time, it launched its first interim dividend, proposing a cash dividend of 1.50 yuan per 10 shares to all shareholders, with an estimated total payout of approximately 62.639 million yuan. Controlling shareholder Guo Zhenyu also pledged in April this year not to reduce his holdings within 12 months. In the first half of 2026, Betaini achieved operating revenue of 2.592 billion yuan, up 9.27% year-on-year, net profit attributable to the parent of 292 million yuan, up 18.30% year-on-year, and non-GAAP net profit attributable to the parent of 246 million yuan, a sharp increase of 34.85% year-on-year. Net cash flow from operating activities was 394 million yuan, up 13.53% year-on-year. Gross margin reached 74.62%, and the selling expense ratio fell 3.64 percentage points year-on-year to 50.53%. However, Betaini's share price has fallen about 15% cumulatively this year, hovering around 30 to 35 yuan from late June to late September. As of September 30, it closed at 32.70 yuan per share, with a latest total market value of approximately 13.8 billion yuan.

The board of Karmart, or KAMART, has approved a share buyback program for financial management of 30 million shares, representing 2.34% of paid-up shares. The shares will be purchased on the stock exchange between October 6, 2026 and April 5, 2027. Earlier, in mid-2025, the KAMART board approved a buyback of no more than 30 million shares within a period of no more than six months. Most recently, KAMART shares closed at 6.65 baht, compared with a book value of 2.74 baht per share, representing a P/BV of 2.43 times and a P/E of 12.96 times.

Karmart Public Company Limited, or KAMART, has informed the Stock Exchange of Thailand that its board of directors, at its 5/2026 meeting held on 2 October 2026, approved a share buyback programme for financial management purposes. The company will buy back no more than 30,000,000 shares, or approximately 2.34% of its total issued shares, through the Stock Exchange of Thailand. The programme will run from 6 October 2026 to 5 April 2027. On pricing, the company stated that the buyback price will not exceed 115% of the average closing price over the five trading days preceding the transaction date. The average closing price over the 30 trading days before the disclosure was 6.86 baht per share. KAMART said the buyback is intended to keep the market moving in a reasonable direction and to improve liquidity management efficiency. Following the buyback, the company expects its return on equity and earnings per share to increase.

Several Wall Street firms raised their price targets on Oddity Tech into the US$16 to US$18 range following the company's recent Q2 results and updated guidance. Morgan Stanley, Jefferies and Truist lifted targets into the mid to high teens, while Truist, Jefferies and JPMorgan pointed to the scale of Oddity Tech's data driven platform and the contribution from Spoiled Child and MethodIQ as key supports for the equity story. Goldman Sachs and Jefferies noted that Q2 earnings and sales came in ahead of expectations, with management guiding to improved sales trends into Q3. Goldman Sachs and BofA kept cautious views in place with Sell and Underperform ratings, and Morgan Stanley, Truist, Jefferies and JPMorgan all flagged uncertainty around the timing and strength of any IL Makiage recovery. The estimated fair value per share moved from about US$11.07 to US$15.31, with the revenue growth assumption rising from about 2.78% to roughly 7.74% and the net profit margin assumption moving from around 2.22% to about 5.39%.

dsm-firmenich has completed its €540 million share repurchase program, the company announced on October 1, 2026. The program, launched on March 12, 2026, was split between €40 million to cover commitments under the Group's share-based compensation plans and €500 million to reduce issued capital. In the final window from September 28 through September 30, 2026, the company repurchased 193,100 shares at an average price of €98.62 per share for a total of €19.0 million. Across the full program, dsm-firmenich repurchased 7,169,147 shares at an average price of €75.32, of which 680,701 shares were for share-based compensation plans and 6,488,446 shares were for capital reduction. The company intends to cancel the 6,488,446 capital-reduction shares by the end of the first quarter of 2027, cutting issued shares by approximately 2.6% from 253,626,947 to 247,138,501.

Kasikorn Securities estimates that NEO will post a third-quarter profit of 212 million baht, up 261% year on year and 2% quarter on quarter, under assumptions of 19.5% sales growth, a 38% gross margin, and a selling and administrative expense ratio of 29.2% of revenue. This puts the first nine months of the year at 516 million baht, up 31% year on year, or 73% of the full-year profit forecast of 705 million baht. The company is maintaining its targets for the year: double-digit sales growth, a gross margin of 37% to 39%, and an SG&A-to-revenue ratio of no more than 27%. For next year, it targets mid-to-high single-digit sales growth. The research team is keeping its hold recommendation on NEO but raising its end-of-next-year target price to 24.78 baht from 24.14 baht, after shifting the valuation base year to the end of next year, compared with the current market price of 23.7 baht.

L'Oréal has entered talks to acquire a minority stake in Giorgio Armani as part of a wider reshuffle at the Italian fashion house. The potential deal would deepen a long-running licensing partnership between the two groups in fragrances, cosmetics and skincare. Armani's overhaul also includes leadership changes and a refreshed brand strategy alongside the exploration of new external investors. L'Oréal, a €202.7b personal products group, already manufactures and sells cosmetics and skincare across Europe, the Americas, Asia and multiple emerging regions, so any closer link with Armani would plug directly into a wide global distribution and branding platform. The talks reinforce the part of the L'Oréal story that relies on targeted dealmaking to deepen luxury credentials and defend pricing power against groups like LVMH and Estée Lauder.

Proya's wholly owned subsidiary Proya Hainan Investment Co., Ltd. has invested 3.132114 million yuan to become a new shareholder of Shanghai Kede Biotechnology Co., Ltd., the parent company of the functional skincare brand BISHENGZHIYAN, with a 19% stake. Founder Shi Nuo's shareholding has correspondingly dropped to 47.06%, but he remains the largest shareholder. Proya told 21st Century Business Herald that this transaction is a minority equity investment, does not involve control or consolidation, and BISHENGZHIYAN will continue to operate independently with its founding team leading the brand's development. Kede Biotechnology was established in December 2016 and owns the functional skincare brand BISHENGZHIYAN and the body care brand Eios. According to beauty industry media Qingyan, BISHENGZHIYAN's sales on mainstream e-commerce platforms reached 745 million yuan in 2025, and sales in the first eight months of this year were 669 million yuan, with the full year expected to approach the 1 billion yuan level. On the industrial investment side, Proya Hainan Investment Co., Ltd. plans to invest 100 million yuan to subscribe to limited partnership interests in Ningbo Zhixing Yueheng Venture Capital Partnership, a fund managed by Shanghai Zhenxin Valley Investment Management Co., Ltd. The fund's target total committed capital is 3.1 billion yuan, with an initial total committed capital of 920 million yuan. Proya has previously spent a cumulative 779 million yuan to acquire a 51% controlling stake in Flower Knows. This investment in BISHENGZHIYAN is intended to strengthen its position in the functional skincare sector, which is facing growth pressure.

BioHarvest Sciences said its board has authorized a share repurchase program under a normal course issuer bid, in line with Canadian market practices. Under the program, the company may repurchase up to 5% of its outstanding common shares, or a maximum of 1,133,392 shares. The normal course issuer bid is expected to begin no earlier than five days after the announcement and will remain in effect for up to 12 months, unless the maximum number of shares is repurchased or the company terminates the program earlier.

dsm-firmenich repurchased 313,835 of its own shares during the week of September 21 to September 25, 2026, at an average price of €96.45 per share for a total of €30.3 million. The purchases are part of a €540 million repurchase program the company began on March 12, 2026, which splits into €40 million to cover commitments under the Group's share-based compensation plans and €500 million to reduce its issued capital. The €40 million share-plan tranche was finalized on March 23, 2026, while the €500 million capital-reduction tranche is intended to be completed by the end of Q3 2026. To date, 6,976,047 shares have been repurchased under the program at an average price of €74.68, for a total consideration of €520.9 million. The program follows dsm-firmenich's February 9, 2026 announcement of its intention to buy back ordinary shares with an aggregate market value of €500 million and reduce its issued capital.

Dao Securities (Thailand) Public Company Limited has issued an analysis expecting Neo Corporate Public Company Limited, or NEO, to post net profit of approximately 247 million baht in the third quarter of 2026, up 321% from the same period last year and up 19% from the previous quarter, marking its highest level in six quarters. The gain is driven by revenue expected to set a new record, with the key factor being sales boosted by the "Thai Help Thai Plus" program, as well as product price increases starting in July 2026. For the fourth quarter of 2026, Dao Securities sees continued growth compared with the same period last year, benefiting from the easing of the flood situation. Meanwhile, the research team has raised its net profit forecast for NEO in 2026 by 12% to 720 million baht, up 28% from last year, and maintained its "Buy" recommendation while raising the target price to 34.00 baht from 31.00 baht.