Corbion reports sales growth, profit improvement, and positive free cash flow driven by strong Q3 and upgrades full year guidance

Corbion, the Amsterdam-listed sustainable ingredients company that champions preservation through application of science, today publishes its results for the first nine months of 2023.

Key highlights first nine months 2024:

Organic sales growth: +2.6%                     (Q3: +9.2%):

Volume/mix:      +6.1%                     (Q3: +11.1%)

Price:                -3.5%                      (Q3: -1.9%)

Continued Operations:

Sales € 972.9 million                         (Q3: € 335.8 million)

Adjusted EBITDA € 135.7 million        (Q3: € 49.6 million)

Operating profit € 62.1 million            (Q3: € 28.5 million)

Free Cash Flow € 302.1 million, € 50.8 million when excluding divestment proceeds

Continued double digit growth in sales and Adjusted EBITDA in Health & Nutrition

Continued positive volume/mix development in Functional Ingredients & Solutions

FY 2024 outlook upgrade:

Volume/mix growth >5%                                [previously 2, 6%]

Adjusted EBITDA organic growth 22, 25%      [previously >18%]

Free Cash Flow >€ 60 million                          [previously >€ 50 million]

€ million*

YTD2024

YTD 2023

YTD growth

YTD Organic growth

 

Q3 2024

Q3 2023

Q3 growth

Q3Organic growth

Sales