Corbion Nv · EURONEXT:CRBN
Corbion Nv — Shareholder Meeting (May 2024)
13 slides from Corbion Nv's shareholder meeting presentation, May 16, 2024
Slide 1: Annual General Shareholders Meeting 2024
ANNUAL GENERAL SHAREHOLDERS MEETING 2024 16-May-24
Slide 2: Safety: Continuing to build a strong Safety Culture
AGM 2024 Safety: Continuing to build a strong Safety Culture • Good progress achieved, through continued focus on safety leadership, while adapting targets to business changes • Strengthening Process Safety Capability and Systems 2 17/05/23
Slide 3: 2023 performance in line with guidance
AGM 2024 2023 performance in line with guidance Actuals FY 2023 Organic Sales growth Core activities 3.0% Organic EBITDA growth Core activities 16.2% Free Cash Flow €18.6M Covenant Net debt/Covenant EBITDA 3.1x Sales €1.443.8M Adjusted EBITDA €191.8M Adjusted EBITDA (% of sales) 13.3% 3 01/03/2024
Slide 4: Macro-economic environment
AGM 2024 Macro-economic environment Customer destocking concluded • Significant customer destocking following supply chain normalization during 2023 Soft macro-economic climate • Impacting some biochemical markets, like semiconductors, agrochemicals and PLA (no strong recovery expected before H2’24)
Slide 5: Sustainable Food Solutions – growth in adjacencies
AGM 2024 Sustainable Food Solutions – growth in adjacencies 1Q23 2Q23 3Q23 4Q23 Business environment • Supply chain destocking concluded in Q4 2023 • Soft consumer demand in line with macro-conditions • Q4: improvement in volume/mix versus previous Volume/mix growth % quarters € million YTD 2023 YTD
Slide 6: Lactic Acid & Specialties – footprint optimization
AGM 2024 Lactic Acid & Specialties – footprint optimization Business environment 1Q23 2Q23 3Q23 4Q23 • Strong Q4: improvement in volume/mix versus previous quarters • No recovery yet from cyclical downturn in the semiconductor industry • Lower full year lactic acid supply to PLA JV Volume/mix growth
Slide 7: Video
——* AGM 2024 Video 7 01/03/2024 > Corbion
Slide 8: Algae Ingredients - increased value creation from existing facility
AGM 2024 Algae Ingredients - increased value creation from existing facility Business environment 15.7% • Growing omega-3 demand and ongoing fish oil scarcity • Sales growth over 50%, surpassing the € 100 million landmark 3.6% Growth initiatives 1H23 2H23 • Aquaculture: continued high growth Adjuste
Slide 9: Incubator
AGM 2024 Incubator € million YTD 2023 YTD 2022 • The Adjusted EBITDA of € -8.5 million reflecting investments in various programs as outlined at the December 2022 Capital Markets Day Adjusted EBITDA (8.5) (9.2) • Costs associated with Incubator amount to 0.7% of core sales in line with guided range
Slide 10: TotalEnergies Corbion joint venture
AGM 2024 TotalEnergies Corbion joint venture € million * YTD 2023 YTD 2022 Organic Sales declined by -26.9% for the full year 2023 • Volume erosion stabilized, with early signs of recovery visible Sales 118.1 165.8 • Stable market share • Robust long term PLA market drivers remain EBITDA 19.3 42.8 •
Slide 11: Non-core activities
AGM 2024 Non-core activities € million YTD 2023 YTD 2022 Organic Sales declined by –9.3% for the full year 2023 Sales • Volume/mix of -17.3%, partly offset by price increases of 8.0% 179.8 203.5 Organic growth -9.3% 26.1% Adjusted EBITDA margin at 15.6% (-130bps vs LY): • Adjusted EBITDA decreased t
Slide 12: Good progress on Sustainability in 2023
AGM 2024 Good progress on Sustainability in 2023 1.5°C % of net revenue sales Absolute CO2 Products Products Verified Total contributing reduction covered by covered by responsibly Renewable Recordable to to SDG SDG 2. 2. 3. 3 scope I&II Life Cycle Social Value sourced cane electricity Injury Rate 1
Slide 13: Slide 13