Slide 1: Q1 2019 Results
Q1 2019 RESULTS TJERK DE RUITER, EDDY VAN RHEDE 4/25/2019 VAN DER KLOOT
Slide 2: Highlights Q1 2019
Highlights Q1 2019 • Organic net sales increase of 1.5%, driven by Innovation Platforms • Food: Continued growth driven by Meat; Bakery showing the first positive signs • Biochemicals: All markets declined except for Medical/Pharma • Innovation Platforms: Strong growth lactic acid sales to Total Cor
Slide 3: Profit & Loss
Profit & Loss € million Q1 2019 Q1 2018 Growth Q1 Net sales Ingredient Solutions 216.4 206.6 4.7% - Food 158.1 147.2 7.4% - Biochemicals 58.3 59.4 -1.9% Innovation Platforms 12.5 6.4 95.3% Total net sales 228.9 213.0 7.5% Adjusted EBITDA Ingredient Solutions 45.3 43.3 4.6% - Food 28.9 26.8 7.8% - Bi
Slide 4: Sales Growth per segment
Sales Growth per segment Total growth at Net Sales Growth Total growth Currency Acquisitions Organic Price/Mix Volume constant curr ency Q1 2019 vs 2018 Ingredient Solutions 4.7% 5.3% -0.6% 0.0% -0.6% 0.5% -1.1% - Food 7.4% 5.8% 1.6% 0.0% 1.6% 1.3% 0.3% - Biochemicals -1.9% 3.9% -5.8% 0.0% -5.8% -0.
Slide 5: EBITDA bridge Q1 2019
EBITDA bridge Q1 2019 €M • Organic decline Ingredient 45 Solutions due to better 2.7 40 1.9 price/mix offset by increased 1.1 2.4 35 3.3 costs and lower volumes 0.9 6.3 30 25 Ingredient Solutions • Currency impact positive 20 38.6 34.9 34.0 15 10 • Innovation Platforms 5 Increased loss mainly due to
Slide 6: Ingredient Solutions
Ingredient Solutions Q1 Q1 • Organic sales growth Q1 2019: -0.6% € million 2019 2018 • Currency impact on net sales: +5.3% Net sales 216.4 206.6 Organic growth -0.6% 2.2% • EBITDA margin steady at 20.9% (Q1 2018: 21.0%) Adjusted EBITDA 45.3 43.3 EBITDA % 20.9% 21.0% Net sales Ingredient Solutions by
Slide 7: Business Segment Food
Business Segment Food Q1 Q1 Q1 2019 key items € million 2019 2018 Net Sales 158.1 147.2 • Organic net sales growth of 1.6% Organic growth 1.6% -0.4% • Bakery: First quarterly growth since Adjusted EBITDA 28.9 26.8 mid-2016 EBITDA % 18.3% 18.2% • Meat: Continued strong performance in US and LatAm 8.0
Slide 8: Business Segment Biochemicals
Business Segment Biochemicals Q1 Q1 Q1 2019 key items € million 2019 2018 Net sales 58.3 59.4 • Organic sales decline of 5.8% Organic growth -5.8% 9.8% • Different quarterly phasing in 2019 Adjusted EBITDA 16.4 16.5 compared to 2018 EBITDA % 28.1% 27.8% • All segments declined with exception of Medi
Slide 9: Innovation Platforms
Innovation Platforms Q1 Q1 € million 2019 2018 Q1 2019 key items Net sales 12.5 6.4 • Strong growth lactic acid sales to Organic growth 65.5% 18.5% Total Corbion PLA JV Adjusted EBITDA (10.4) (4.7) • Acquisition of remaining 49.9% EBITDA % -83.2% -71.9% stake in the SB Renewable Oils joint venture c
Slide 10: Outlook FY 2019
Outlook FY 2019 • Organic net sales growth in 3-6% range • Ingredient Solutions • Sales growth: Confirmation CMD guidance of 2-4% range • Food within 1-3% range • Biochemicals near lower end of 3-10% range • Adjusted EBITDA margin: • Confirmation CMD guidance: > 19% Innovation Platforms • Organic ne
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