Corbion Nv · EURONEXT:CRBN
Corbion Nv — Shareholder Meeting (May 2025)
11 slides from Corbion Nv's shareholder meeting presentation, May 14, 2025
Slide 1: Annual General Shareholders Meeting 2025
ANNUAL GENERAL SHAREHOLDERS MEETING 2025 Preserve what matters OLIVIER RIGAUD (CEO)
Slide 2: FY 2024 Highlights
AGM 2025 FY 2024 Highlights • Strong results in line with upgraded guidance Volume/Mix* • Positive organic sales growth: +2.2% • Volume/Mix +5.2% & Pricing -3.0% • Organic Adjusted EBITDA growth +23.3% +5.2% (FY) • Free Cash Flow: € 98.3 million* • Continued operations (IFRS 5): Adjusted EBITDA € 17
Slide 3: Q1 2025 Key highlights: strong start in 2025
AGM 2025 Q1 2025 Key highlights: strong start in 2025 Volume/mix • Sales of € 329.7 million • Accelerated organic sales growth of +7.9% +8.4% • Volume/mix +8.4% & Pricing -0.5% • Adjusted EBITDA € 54.4 million, Adjusted EBITDA margin 16.5% Adj EBITDA margin • Functional Ingredients & Solutions: Stro
Slide 4: Macro-economic environment
AGM 2025 Macro-economic environment Opportunities for differentiation in key markets • Corbion grew sales in bakery and meat by targeting growing market subsegments with differentiated clean label solutions • Strong growth in Health & Nutrition confirms Corbion’s value proposition in attractive mark
Slide 5: Continued operations: Sales and Adjusted EBITDA development
AGM 2025 Continued operations: Sales and Adjusted EBITDA development FY Sales 2024 vs 2023 FY Adjusted EBITDA 2024 vs 2023 € million € million 1,500 1,443.8 200 191.8 +1.9% +24.8% 179.7 1,288.1 175.0 1,264.1 20.8 44.8 51.6 150 39.6 140.2 1,000 4.8 100 500 50 0 0 Reported Discontinued Continued Funct
Slide 6: Functional Ingredients & Solutions
AGM 2025 Functional Ingredients & Solutions Volume/Mix - Functional Ingredient & Solutions FY Organic Sales growth of -1.6% (Q4: -0.7%) FY +3.3% • Volume/mix +3.3% (Q4: +3.4%) ▪ Food is driving the growth, mainly in bakery, meat, and dairy markets and growth in the key product/market adjacencies. ▪
Slide 7: Health & Nutrition
AGM 2025 Health & Nutrition Volume/Mix - Health & Nutrition FY FY Organic Sales growth of +18.5% (Q4: +8.8%) +13.9% • Volume/Mix +13.9% (Q4: +0.2%): strong growth in Nutrition driven by aquaculture and petfood markets • Continued growth in Pharma driven by higher volumes at lower prices • Biomedical
Slide 8: TotalEnergies Corbion joint venture
AGM 2025 TotalEnergies Corbion joint venture Sales trend** FY +13.2% FY organic sales growth at +13.2% (Q4: +7.1%) • Continuous recovery in volumes • Significantly lower price levels • Robust long term PLA market drivers remain attractive FY EBITDA margin: 8.7% (Q4: 2.1%) Q1-23 Q2-23 Q3-23 Q4-23 Q1-
Slide 9: Good progress on Sustainability in 2024
AGM 2025 Good progress on Sustainability in 2024 % of net revenue sales Absolute CO2 Products Absolute CO2 Verified Total Products contributing reduction Renewable covered by reduction responsibly Recordable covered by to to SDG SDG 2, 2. 3, 3 scope scope 1&2 I&II Life Cycle electricity scope 3 vers
Slide 10: Outlook 2025
AGM 2025 Outlook 2025 Organic sales growth: • Volume/mix growth: +2 - 6% Organic Adjusted EBITDA growth: • Organically > 25% Free Cash Flow*: > € 85 million • Capex € 80 – 90 million • Covenant Net Debt/covenant EBITDA: ~1.6x (year-end) 10 14/05/2025 * excl. divestment/acquisitions
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