Slide 1: Q1 2021 Results
Q1 2021 RESULTS OLIVIER RIGAUD (CEO) / EDDY VAN 30/4/2021 RHEDE VAN DER KLOOT (CFO)
Slide 2: Highlights Q1 2021
Highlights Q1 2021 • Organic net sales increase of 9.5%, volume and price driven • Core activities (organic sales growth +10.7%) • Sustainable Food Solutions: Growth in all business segments despite high 1Q20 comparison base. Preservation remains strongest driver. • Lactic Acid & Specialties: Low gr
Slide 3: Net sales and Adjusted EBITDA: Q1 2021
Net sales and Adjusted EBITDA: Q1 2021 € million YTD 2021 YTD 2020 Growth YTD Net Sales Core 218.6 215.2 1.6% - Sustainable Food Solutions 138.9 136.2 2.0% - Lactic Acid & Specialties 74.5 76.7 -2.9% - Incubator 5.2 2.3 126.1% Non-core 32.9 41.1 -20.0% Total Net Sales 251.5 256.3 -1.9% Adjusted EBIT
Slide 4: Sales Growth per segment in Q1 2021
Sales Growth per segment in Q1 2021 Total growth at Acquisitions/ Net sales Total growth Currency constant Organic Price/Mix Volume (Divestments) currency YTD 2021 vs YTD 2020 Core 1.6% -9.1% 10.7% 0.0% 10.7% 2.2% 8.3% - Sustainable Food Solutions 2.0% -10.4% 12.4% 0.0% 12.4% 5.1% 7.0% - Lactic Acid
Slide 5: Sustainable Food Solutions
Sustainable Food Solutions YTD YTD • Preservation: Continued strong € million 2021 2020 growth across product categories Net Sales 138.9 136.2 and geographies Organic growth 12.4% 8.3% • Functional Systems Growth despite Adjusted EBITDA 23.2 24.5 high positive impact on Q1 2020 Adjusted EBITDA % 16.
Slide 6: Lactic Acid & Specialties
Lactic Acid & Specialties YTD YTD € million 2021 2020 • High growth in lactic acid sales including to PLA joint Net Sales 74.5 76.7 venture Organic growth 1.9% 14.7% • Esters declined: legislative Adjusted EBITDA 18.3 19.2 changes in agrochemicals Adjusted EBITDA % 24.6% 25.0% and quarterly phasing
Slide 7: Incubator
Incubator YTD YTD • Sales growth driven by higher € million 2021 2020 AlgaPrime DHA (omega-3 Net Sales 5.2 2.3 sales) Organic growth 200.0% 86.6% • Aquaculture sector more Adjusted EBITDA (3.4) (5.7) receptive to using sustainable Adjusted EBITDA % -65.4% -247.8% ingredients • Growing interest from
Slide 8: Total Corbion PLA joint venture
Total Corbion PLA joint venture YTD YTD • Sales increased by 19.8% € million 2021 2020 Net Sales 37.1 30.9 • EBITDA margin increase due to added EBITDA 15.9 9.4 value margin increase and improved EBITDA % 42.9% 30.4% fixed cost leverage *Results on100% basis. Corbion owns 50% of Total Corbion PLA jo
Slide 9: Non-core activities
Non-core activities YTD YTD • Organic sales growth in Emulsifiers € million 2021 2020 Net Sales 32.9 41.1 Organic growth 3.2% • Frozen dough divested in January 2021 Adjusted EBITDA 5.8 6.4 Adjusted EBITDA % 17.6% 15.6% • Lower margin co-packing blending activities have been phased out • Emulsifiers
Slide 10: Core Adjusted EBITDA bridge Q1 2021
Core Adjusted EBITDA bridge Q1 2021 50.0 8.8 0.5 4.8 40.0 0.0 4.4 30.0 € mln 20.0 38.0 38.1 10.0 0.0 10 © 30/4/2021
Slide 11: Outlook FY 2021
Outlook FY 2021 • Organic sales growth rate for core activities in the 7-10% range (was: towards the higher end of the 4-7% guidance range) • Significant uncertainties going forward due to the COVID-19 pandemic • Improved business outlook for all three business units. • Adjusted EBITDA margin core a
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