Corbion NV (CSNVY) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Corbian's full year and fourth quarter 2025 results conference call. This morning, we published our full year 2025 results press release and presentation. These can be found on our website at www.corbian.com, investor relations, financial publications. Before we begin this morning, please note that today's discussion will include forward-looking statements based on current expectations and assumptions. These statements involve risks and uncertainties that could cause actual results to differ materially. Corbian does not undertake any obligation to update statements made during this call or in today's publications. For further details, please refer to our Annual Report 2024. With me this morning on the call are Olivier Rigaud, Chief Executive Officer, and Peter Kazius, our Chief Financial Officer. I would like to hand the call over to Olivier to present on the business performance. Olivier. Thank you, Alex. And good morning, everyone. Thank you for joining us today to discuss Corbion's fourth quarter and full year 2025 results. I will start with our business performance, after which Peter will cover the financials in more detail. 2025 was a strong year for Corbion. We delivered solid organic growth a significant improvement in profitability, and strong free cash flow generation. Volume mix growth reached 3.4% for the full year, accelerating to 8.8% in the fourth quarter, reflecting healthy demand across our portfolio, particularly in health and nutrition and in natural preservation solutions. Profitability improved substantially. Adjusted EBITDA reached €204 million for the full year and €48 million in the fourth quarter, representing organic EBITDA growth of nearly 27% for the year and nearly 40% in Q4. Free cash flow generation...