Corbion Nv · EURONEXT:CRBN
Corbion Nv — Shareholder Meeting (May 2022)
13 slides from Corbion Nv's shareholder meeting presentation, May 18, 2022
Slide 1: AGM Presentation 2021
AGM PRESENTATION 2021 18 MAY 2022 Another challenging year, strong performance OLIVIER RIGAUD 18-May-22 CEO
Slide 2: 2021 in review: excellent sales growth, margin under pressure, strong progress on sustainability
AGM 2021 - OVERVIEW 2021 in review: excellent sales growth, margin under pressure, strong progress on sustainability Financial • Organic sales growth core activities 15.0% • Growth driven by all three business units • Adjusted EBITDA: 12.7% margin • Pressure from increased input costs Business • Rol
Slide 3: Safety first: good performance in 2021
AGM 2021 - SAFETY Safety first: good performance in 2021 • Safety embedded as a company value in the organization. • Goal is to ensure continuous improvement is established in order to obtain and sustain a world class safety performance within Corbion. • Long term injury trend: 3
Slide 4: Sustainable Food Solutions
AGM 2021 - SFS UPDATE Sustainable Food Solutions • Net sales organic growth of 10.8% • Preservation: • Natural preservatives continue to gain share • Strongest growth in newer antimicrobial solutions • Functional systems: • Higher than historical average win-rate • Healthy development pipeline in ad
Slide 5: Sustainable Food Solutions
AGM 2021 - SFS FINANCIALS Sustainable Food Solutions • Net sales organic growth of 10.8% • Adjusted EBITDA margin from 17.0% to 11.9% • Rapidly rising input costs not yet reflected in sales price • Investments in organizational capabilities • Q4 margin adversely impacted by temporary production outa
Slide 6: Lactic Acid & Specialties
AGM 2021 - LAS UPDATE Lactic Acid & Specialties • Net sales organic growth of 17.0% • High growth in lactic acid deliveries to TotalEnergies Corbion joint venture • Strong growth to the electronic and pharmaceutical segments • Developing natural sanitizing agents • Medical biopolymers returned to st
Slide 7: Lactic Acid & Specialties
AGM 2021 - LAS FINANCIALS Lactic Acid & Specialties • Construction project of new lactic acid plant in Thailand progressing well 7 25/02/2022
Slide 8: Lactic Acid & Specialties
AGM 2021 - LAS FINANCIALS Lactic Acid & Specialties • Net sales organic growth of 17.0% • Adjusted EBITDA margin from 22.1% to 19.4% • Rapidly rising input costs not yet (fully) reflected in sales price • Headcount increase related to lactic acid capacity expansion and biopolymers 8 25/02/2022
Slide 9: Lactic Acid & Specialties: TotalEnergies Corbion joint venture
AGM 2021 - LAS FINANCIALS Lactic Acid & Specialties TotalEnergies Corbion joint venture Cutlery Gifts cards Coffee caps Labels *Results on 100% basis. Corbion owns 50% of the TotalEnergies Corbion joint venture Packaging Rigid packaging Beds Clothing • Net sales organic growth of 23.5% • Increasing
Slide 10: Incubator (Algae Ingredients)
AGM 2021 - ALGAE INGREDIENTS UPDATE Incubator (Algae Ingredients) • Net sales increased organically by 147.8% • Sales growth driven by AlgaPrime DHA (omega-3) • Aquaculture sector is becoming more receptive of using sustainable feed ingredients • Expanded into multiple leading aquaculture feed compa
Slide 11: Incubator (Algae Ingredients)
AGM 2021 - ALGAE INGREDIENTS FINANCIALS Incubator (Algae Ingredients) • Net sales increased organically by 147.8% • Adjusted EBITDA loss declined from € -18.4 million to € -11.7 million • Path to break-even in 2022 reconfirmed 11 25/02/2022
Slide 12: 2021 Corbion scorecard
AGM 2021 - SCORECARD 2021 Corbion scorecard Targets (selection used internally to evaluate) FY • Organic sales growth • EBITDA • Sustainability o Safety performance o Verified responsible sourced cane sugar o Reduction Scope I&II emissions/ton (part of SBT) o Product Social Metrics assessment 12
Slide 13: Sustainability progress
AGM 2021 - PRESERVE WHAT MATTERS UPDATE Sustainability progress • Surpassed our 2025 GHG emission reduction target in 2021 • Finalizing updated 2030 target CDP Climate/supplier engagement A • New net zero GHG emissions target in our value CDP Climate/general A- (was A) chain by no later than 2050 CD