Slide 1: Q3 2018 Results
Q3 2018 RESULTS TJERK DE RUITER, EDDY VAN RHEDE 2/11/2018 VAN DER KLOOT
Slide 2: Highlights first nine months 2018
Highlights first nine months 2018 • Organic net sales increase of 2.8%, mostly volume driven • Food: Meat doing well; Bakery declining but easing; Other: Slight growth • Biochemicals: All markets grew except for Animal Health and HPC • EBITDA excluding one-off items YTD € 104.4M (YTD 2017: € 129.9M)
Slide 3: Profit & Loss
Profit & Loss YTD YTD Growth € million Q3 2018 Q3 2017 2018 2017 YTD Net sales Ingredient Solutions 632.8 662.9 215.3 213.0 -4.5% - Food 465.4 495.6 160.9 159.2 -6.1% - Biochemicals 167.4 167.3 54.4 53.8 0.1% Innovation Platforms 33.6 17.6 11.9 5.6 90.9% Total net sales 666.4 680.5 227.2 218.6 -2.1%
Slide 4: Sales Growth per segment
Sales Growth per segment Total growth Acquisitions/(D Total growth Currency at constant Organic Price/Mix Volume ivestments) currency YTD 2018 vs 2017 Ingredient Solutions -4.5% -6.1% 1.6% 0.0% 1.6% -0.9% 2.5% - Food -6.1% -6.7% 0.6% 0.0% 0.6% -1.4% 2.0% - Biochemicals 0.1% -4.3% 4.4% 0.0% 4.4% 0.2%
Slide 5: EBITDA bridge YTD 2018
EBITDA bridge YTD 2018 €M • Organic decline due to 160 negative price/mix and costs 140 7.9 3.1 4.0 120 10.5 • Currency impact significant 100 15.8 1.7 80 Ingredient Solutions 60 129.9 • Innovation Platforms 104.4 102.7 Increased loss mainly due to 40 Algae Ingredients 20 0 5 © 2/11/2018
Slide 6: Ingredient Solutions
Ingredient Solutions YTD YTD Q3 Q3 • Organic sales growth YTD 2018: 1.6% € million 2018 2017 2018 2017 • Currency impact on net sales: -6.1% Net Sales 632.8 662.9 215.3 213.0 Organic growth 1.6% -1.1% 1.5% -0.7% • EBITDA margin decrease to 19.7% (YTD 2017: 20.2%) EBITDA excl. one-off items 124.4 134
Slide 7: Business Segment Food
Business Segment Food YTD YTD Q3 Q3 YTD 2018 key items € million 2018 2017 2018 2017 Net Sales 465.4 495.6 160.9 159.2 • Organic net sales growth of 0.6% Organic growth 0.6% -2.4% 1.8% -1.4% • Margin pressure from adverse business EBITDA excl. one-off items 81.5 95.3 26.8 30.7 mix (lactic acid Asia)
Slide 8: Business Segment Biochemicals
Business Segment Biochemicals YTD YTD Q3 Q3 YTD 2018 key items € million 2018 2017 2018 2017 Net Sales 167.4 167.3 54.4 53.8 • Organic sales growth of 4.4% Organic growth 4.4% 3.4% 0.6% 1.2% • Good growth in Pharma/Medical, and EBITDA excl. one-off items 42.9 38.8 12.8 12.2 Electronics EBITDA % 25.6
Slide 9: Innovation Platforms
Innovation Platforms YTD YTD Q3 Q3 € million 2018 2017 2018 2017 Q3 key items Net Sales 33.6 17.6 11.9 5.6 • Continued lactic acid sales to Organic growth 50.6% 3.4% 39.7% 46.8% Total Corbion PLA JV EBITDA excl. one-off items (20.0) (4.2) (6.7) (1.3) • Total Corbion PLA JV plant EBITDA % -59.5% -23.
Slide 10: Outlook FY 2018
Outlook FY 2018 Ingredient Solutions • Sales growth: Confirmation CMD guidance for both Food (1-3%) and Biochemicals (3-10%) • EBITDA margin: • Confirmation CMD guidance: > 19% • H2 margin < H1 margin due to rising input costs, mix effects in Food and Biochemicals, and investments in growth initiati
Slide 11: Corbion
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Slide 12: EBITDA bridge Q3 2018
EBITDA bridge Q3 2018 €M 50 3.4 45 40 2.6 3.1 1.0 35 5.4 30 25 Ingredient Solutions 20 41.6 32.9 15 10 5 0 12 © 2/11/2018