Corbion: Q3-2023 Interim Management Statement

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
Strategic Developments
  • 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
For additional information please read the company’s PDF file below (185 KB):