Slide 1: Q1 2025 Results
Q1 2025 RESULTS OLIVIER RIGAUD (CEO) PETER KAZIUS (CFO) 23-Apr-2025
Slide 2: Forward-looking statements disclaimer
Q1 2025 RESULTS This presentation contains forward-looking statements with respect to Corbion’s future performance and position. Such statements are based on current expectations, estimates, and projections of Corbion and information currently available to the company. Corbion cautions readers that
Slide 3: Key Highlights
Q1 2025 RESULTS Key Highlights 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: Strong Adjusted EBITDA marg
Slide 4: Sales and Adjusted EBITDA: Q1 2025
Q1 2025 RESULTS Sales and Adjusted EBITDA: Q1 2025 € million Q1 2025 Q1 2024 Growth Sales - Functi ona l Ingredi ents & Sol uti ons 257.0 239.3 7.4% - Hea l th & Nutri ti on 72.7 61.1 19.0% Total Sales 329.7 300.4 9.8% Adjusted EBITDA - Functi ona l Ingredi ents & Sol uti ons 31.0 17.9 73.2% - Hea l
Slide 5: Sales growth per segment: Q1 2025
Q1 2025 RESULTS Sales growth per segment: Q1 2025 Acquisitions/ Sales Volume/Mix Price Organic Currency Total growth (Divestments) YTD 2025 vs YTD 2024 Continued 8.4% -0.5% 7.9% 1.9% 0.0% 9.8% - Functi ona l Ingredi ents & Sol uti ons 7.3% -1.5% 5.8% 1.6% 0.0% 7.4% - Hea l th & Nutri ti on 12.8% 3.4
Slide 6: Functional Ingredients & Solutions
Q1 2025 RESULTS Functional Ingredients & Solutions Volume/Mix - Functional Ingredient & Solutions Organic Sales growth of +5.8% • Volume/mix +7.3% • Volume/mix and sales growth in all three businesses within the division (i.e., Food, Biochemicals, and Lactic acid to the JV) • Phasing in Biochemicals
Slide 7: Health & Nutrition
Q1 2025 RESULTS Health & Nutrition Organic Sales growth of +16.2% Volume/Mix - Health & Nutrition • Strong quarter in Nutrition, both to aquaculture and other end-markets • Sales growth in Biomaterials mainly in aesthetics and orthopedics • Pharma strong growth across the portfolio • Double-digit vo
Slide 8: TotalEnergies Corbion Joint Venture
Q1 2025 RESULTS TotalEnergies Corbion Joint Venture Sales - TotalEnergies corbion Organic Sales growth of +21.9% • Continuous recovery of volume Adjusted EBITDA margin 7.8% (-77bps vs LY) • Adjusted EBITDA margin in line with FY 2025 estimate Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 • Margin contraction vs LY
Slide 9: FY 2025 outlook affirmed
Q1 2025 RESULTS FY 2025 outlook affirmed Organic sales growth: • Volume/mix growth: +2-6% Adjusted EBITDA organic growth*: • > 25% Free Cash Flow (excluding acquisitions/divestments): >€ 85 million • Capex spend € 80 – 90 million • Covenant Net Debt/EBITDA: ~1.6x (year-end) 9 23-Apr-2025
Slide 10: Annex
Q1 2025 RESULTS Annex 10 23-Apr-2025
Slide 11: Restatements - Continued Operations
Q1 2025 RESULTS Restatements - Continued Operations EBITDA € million 54 52 50 47 13 39 Discontinued Continued 35 Q1-2024 Q2-2024 Q3-2024 Q4-2024 Q1-2025 11 27/02/2025
Slide 12: Investor relations
Investor relations alex.sokolowski@corbion.com www.corbion.com +31 20 590 6341