Slide 1: Q1 2024 Results
Q1 2024 RESULTS OLIVIER RIGAUD (CEO) 26/04/2024 EDDY VAN RHEDE VAN DER KLOOT (CFO)
Slide 2: Key Highlights
Q1 2024 RESULTS Key Highlights • Sales of € 344.3 million; Core Sales of € 300.9 million • Organic Growth core activities: volume/mix + 1.7%, price -4.5% • Adjusted EBITDA of € 47.2 million; Core Adjusted EBITDA € 41.4 million • Organic Growth core activities: +0.7% • Double digit growth in sales an
Slide 3: Sales and Adjusted EBITDA: Q1 2024
Q1 2024 RESULTS Sales and Adjusted EBITDA: Q1 2024 € million Q1 2024 Q1 2023 Growth Q1 Sales Core 300.9 312.5 -3.7% - Functional Ingredients & Solutions 239.7 258.4 -7.2% - Health & Nutrition 61.2 54.1 13.1% Non-core 43.4 47.1 -7.9% Total Net Sales 344.3 359.6 -4.3% Adjusted EBITDA Core 41.4 41.6 -0
Slide 4: Sales growth drivers per division in Q1 2024
Q1 2024 RESULTS Sales growth drivers per division in Q1 2024 Acquisitions/ Sales Volume/Mix Price Organic Currency Total growth (Divestments) Q1 2024 vs Q1 2023 Core 1.7% -4.5% -2.8% -0.9% 0.0% -3.7% - Functional Ingredients & Solutions -0.9% -5.4% -6.3% -0.9% 0.0% -7.2% - Health & Nutrition 14.4% -
Slide 5: Functional Ingredients & Solutions
Q1 2024 RESULTS Functional Ingredients & Solutions • Organic sales growth of -6.3% € million Q1 2024 Q1 2023 • Pricing -5.4% following input cost relaxation Sales 239.7 258.4 • Volume/mix -0.9% driven by temporarily softness in some Organic growth -6.3% 4.6% markets, like semiconductors • Continuati
Slide 6: Health & Nutrition
Q1 2024 RESULTS Health & Nutrition € million Q1 2024 Q1 2023 • Organic sales growth of +14.0% Sales 61.2 54.1 • Nutrition: continued strong sales growth by capitalizing on the overall industry growth, increased penetration of major Organic growth 14.0% 43.4% aquafeed producers, and favorable pricing
Slide 7: Non-core activities
Q1 2024 RESULTS Non-core activities € million Q1 2024 Q1 2023 • Organic sales growth of -6.8% Sales 43.4 47.1 • Volume/Mix +2.1% • Price reduction -8.9% in response to lower input costs Organic growth -6.8% 2.7% • Adjusted EBITDA from € 6.8 million to € 5.8 million Adjusted EBITDA 5.8 6.8 • Reflecti
Slide 8: TotalEnergies Corbion joint venture
Q1 2024 RESULTS TotalEnergies Corbion joint venture • Organic Net sales growth of 24.3% • Volume erosion stabilized, with early signs of recovery visible • Stable market share • Robust long term PLA market drivers remain • Adjusted EBITDA Margin of 15.5% (+30bps vs last year) *Results on 100% basis.
Slide 9: Share buyback program and special cash dividend
Q1 2024 RESULTS Share buyback program and special cash dividend • Share buyback program of € 20.0 million • On April 29th 2024, Corbion will start the repurchase for € 20.0 million of its own ordinary shares • The share buyback program is expected to be completed before 31 October 2024 • Corbion wil
Slide 10: Confirmation of FY 2024 outlook
Q1 2024 RESULTS Confirmation of FY 2024 outlook Organic sales growth core activities: • Volume/mix growth: 2~6% • Pricing: Low single digit negative pricing following input cost relaxation Adjusted EBITDA organic growth core activities: >15% Free Cash Flow (excluding acquisitions/divestments): > €50
Slide 11: Investor relations
Investor relations Peter.Kazius@corbion.com www.corbion.com +31 20 590 6242