Amsterdam / NL. (cb) Corbion NV from the Netherlands, the Amsterdam-listed sustainable ingredients company that champions preservation through the application of science, publishes its results for the first nine months (9M-2023) of its financial year 2023.
Key highlights first nine months 2023
- Sales EUR 1,091.0 million; an organic increase of 2.6 percent
- Adjusted Ebitda EUR 142.8 million; an organic increase of 7.1 percent
- Operating profit EUR 75.9 million; an organic growth of 0.2 percent
- Organic growth core activities: Sales 4.2 percent + Adjusted Ebitda 12.3 percent
- Third quarter of 2023:
– Sales EUR 353.0 million and Adjusted Ebitda EUR 46.0 million
– Organic growth core activities: Sales -2.2 percent + Adjusted Ebitda 6.1 percent - Positive Free Cash Flow for the 2nd consecutive quarter as anticipated
- Restructuring program underway to accelerate significant positive free cash flow delivery, including a full review to drive material improvements in operating expenses, capital program and working capital
- Broader auction process underway to divest the non-core emulsifier business in order to maximize value
- Strategic review of Corbion’s position in PLA
- Algae Ingredients roadmap 2025-2030 following strong growth prospect underway
- Continued focus on high growth, high value biomedical business
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