Slide 1: Q1 2017 Results
Q1 2017 RESULTS TJERK DE RUITER.EDDY VAN RHEDE 25/4/2017 VAN DER KLOOT
Slide 2: Highlights Q1 2017
Highlights Q1 2017 • Organic net sales decline of 2.3%, mostly volume driven • Total net sales growth of 0.7% • EBITDA Q1 excluding one-off items increased organically by 5.1% • EBITDA € 47.8M (Q1 16: € 43.7M) driven by mix improvements, currencies, and lower input costs • PLA joint-venture with Tot
Slide 3: Profit & Loss Statement
Profit & Loss Statement € million YTD 2017 YTD 2016 Growth YTD Net sales Biobased Ingredients 226.0 222.4 1.6% - Food 167.4 168.1 -0.4% - Biochemicals 58.6 54.3 7.9% Biobased Innovations 3.9 5.9 -33.9% Total net sales 229.9 228.3 0.7% EBITDA excluding one-off items Biobased Ingredients 49.4 43.6 13.
Slide 4: Growth per Segment
Growth per Segment Total growth Total growth Currency at constant Acquisitions Organic Price/Mix Volume currency Q1 2017 vs Q1 2016 Biobased Ingredients 1.6% 3.8% -2.2% -0.7% -1.5% 1.7% -3.2% - Food -0.4% 4.1% -4.5% -1.0% -3.5% 1.3% -4.8% - Biochemicals 7.9% 2.6% 5.3% 0.0% 5.3% 2.4% 2.9% Biobased In
Slide 5: EBITDA bridge Q1 2017
EBITDA bridge Q1 2017 60 5.3 • Positive portfolio mix effect 1.8 50 8.4 important profit contributor -1.2 -1.7 40 -3.3 Biobased Ingredients • Minor contribution from lower 30 53.1 input costs 47.8 43.7 20 10 0 5 © 25/4/2017
Slide 6: Biobased Ingredients
Biobased Ingredients Q1 Q1 • Organic sales growth in 2017: -1.5% € million 2017 2016 Net Sales 226.0 222.4 Organic growth -1.5% 1.9% • EBITDA margin increase to 21.9% (2016: 19.6%) EBITDA excl. one-off items 49.4 43.6 • Improved business mix Margin 21.9% 19.6% • Lower input costs 8.0% 22.0% Guidance
Slide 7: Business Segment Food
Business Segment Food Q1 Q1 • Bakery: As expected lower sales with € million 2017 2016 decrease SKUs & small customers. Net Sales 167.4 168.1 Additional losses due to (a) frozen Organic growth -3.5% 3.7% dough and (b) challenges in executing Bakery channel strategy EBITDA excl. one-off items 37.2 34
Slide 8: Business Segment Biochemicals
Business Segment Biochemicals Q1 Q1 • Organic sales growth of 5.3% € million 2017 2016 Net Sales 58.6 54.3 Organic growth 5.3% -3.6% • All segments grew except for small decline in Animal Health EBITDA excl. one-off items 16.9 14.3 Margin 28.8% 26.3% • Excellent quarter for pharma/medical, also help
Slide 9: Biobased Innovations
Biobased Innovations Q1 Q1 • Lactide/PLA sales no longer reported € million 2017 2016 in Biobased Innovations from 2 March Net Sales 3.9 5.9 onwards Organic growth -36.0% 56.1% • Sales of Lactic acid & services to PLA joint venture will differ materially by EBITDA excl. one-off items (1.6) 0.1 quart
Slide 10: Outlook FY 2017
Outlook FY 2017 • Biobased Ingredients sales growth below 2-4% range • Was: within 2-4% range • Total EBITDA before one-off items slightly below 2016 level (€ 170.1M) • Unchanged 10 © 6/3/2017
Slide 11: Corbion
? Corbion