Amsterdam / NL. (cb) The Netherland’s Corbion reported sales of EUR 666.4 million in the first nine months of 2018, a decrease of 2.1 percent compared to the first nine months of 2017, entirely due to negative currency effects. Organic sales growth was 2.8 percent. Ebitda excluding one-off items in the first nine months decreased organically by 1.1 percent to EUR 104.4 million.
«I am pleased to see our Ingredients Solutions business as well as Innovation Platforms continue to improve their top-line organic growth performance. Our Ebitda margins were affected by the investments in our Algae Ingredients platform, an adverse business mix, and higher input costs, particularly in Food. Profitability in Biochemicals continued to improve. Commissioning of the Total Corbion PLA joint venture plant is progressing well», comments Tjerk de Ruiter, CEO.
Key financial highlights first nine months of 2018
- Net sales organic growth YTD was 2.8%
- Ebitda excluding one-off items YTD was EUR 104.4 million, an organic decrease of 1.1%
- Ebitda margin excluding one-off items YTD was 15.7%
- One-off items at Ebitda level of EUR -1.7 million
- Operating result YTD was EUR 72.5 million
For additional information please read Corbion’s PDF file below (1084 KB).
20181105-CORBION-Q3-2018.