Slide 1: Q1 2014 Interim Management Statement
Q1 2014 INTERIM MANAGEMENT STATEMENT GERARD HOETMER/KOOS KRAMER 25 April 2014
Slide 2: Key Highlights Q1 2014
Key Highlights Q1 2014 Sales and EBITDA growth despite severe headwind from strong Euro Strong performance of Biochemicals, Food Ingredients below our expectations Organic Q1 sales growth of 3% EBITDA before one-off costs increased by 6% • At constant currencies EBITDA before one-offs grew by 14% R&
Slide 3: Profit & Loss statement
Profit & Loss statement € million Q1 2014 Q1 2013 % Net Sales 182.7 180.5 1.2% EBITDA excl. one-off costs 25.0 23.6 5.9% One-off costs 0.0 (4.7) EBITDA 25.0 18.9 32.3% EBITDA excl. one-off costs margin 13.7% 13.1% EBITDA excl. one-off costs at const. curr. 26.8 23.6 13.6% 3 © 25-Apr-14
Slide 4: Growth per segment
Growth per segment Total growth Total Growth Currency at constant Acquisitions Organic Price/Mix Volume currency Biobased Food Ingredients -2.8% -4.6% 1.8% 3.2%* -1.4% 0.4% -1.8% Biochemicals 13.9% -3.1% 17.0% 0.0% 17.0% -6.8% 23.8% Total 1.2% -4.3% 5.5% 2.5% 3.0% -0.3% 3.3% *Acquisition effect is s
Slide 5: EBITDA bridge Q1 2014
1.5 EBITDA bridge Q1 2014 0 -2 -4 -2.5 30 1 R&D Other costs 4 25 1 2 • Volume growth of 3.3% 20 • Limited net positive impact 15 of lower raw material prices 25 24 10 • R&D costs increased by € 2.5 million 5 0 • Currency impact through weaker $ and ¥ (translation & transaction) 5 © 25-Apr-14
Slide 6: Biobased Food Ingredients
Biobased Food Ingredients Q1 Q1 • Organic growth of -1.4% € million 2014 2013 Net Sales 133.6 137.4 • Both Bakery and Meat & Organic growth -1.4% -4.1% Culinary market units had challenging quarter. Foods EBITDA excl. one-off costs 23.3 25.0 performed well Margin 17.4% 18.2% • Adverse weather condit
Slide 7: Biochemicals
Biochemicals Q1 Q1 € million 2014 2013 • Strong performance across all Net Sales 49.1 43.1 activities Organic growth 17.0% -2.2% EBITDA excl. one-off costs 6.5 4.6 • Agrochemicals supporting Margin 13.2% 10.7% growth in Q1. Irregular pattern between quarters Net Sales (€ mln) EBITDA margin before on
Slide 8: Restated historical results
Restated historical results Q1 13 Q2 13 Q3 13 Q4 13 Q1 13 Q2 13 Q3 13 Q4 13 New Adjustments Net sales Net sales Biobased Food Ingredients 137.4 149.8 146.9 139.5 Biobased Food Ingredients 2.0 2.0 1.9 1.7 Biochemicals 43.1 40.2 41.6 45.1 Biochemicals -2.0 -2.0 -1.9 -1.7 Total 180.5 190.0 188.5 184.6
Slide 9: Corbion
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