Corbion reports ”strong” quarter

5 Nov 2015

Corbion has reported Q3 2015 sales of €235.6 million, an increase of 18.6% compared to Q3 2014. Organic sales growth was 4.6%, mostly driven by price/mix improvements. EBITDA increased by 44.2%.

Corbion reports ”strong” quarter

Corbion has reported Q3 2015 sales of €235.6 million, an increase of 18.6% compared to Q3 2014. Organic sales growth was 4.6%, mostly driven by price/mix improvements. EBITDA excluding one-off items in Q3 2015 increased by 44.2% to € 39.8 million.

Year-to-date sales increased from €560.8 million to €687.9 million, with EBITDA growing from €77.5 million to €118.0 million.

“Q3 was yet another strong quarter for Corbion from both a sales and profit perspective,” said Tjerk de Ruiter, CEO. “This performance was driven by continuous product mix improvements, currencies, and the successful implementation of our Streamline productivity improvement program. Organic growth was particularly strong in Food, whereas Biochemicals showed a small decline. EBITDA progress was visible in both segments."

The company said that, for Biobased Ingredients, it expects full year growth to be near the upper end of the guidance range of 2-4%. In Biobased Innovations, it continues to expect higher R&D activity levels in Q4, causing increased costs in the quarter. As the fourth quarter is usually the slowest quarter in the year it continues to expect Corbion EBITDA before one-off items in H2 to come in slightly below that of H1 2015 (€ 77.1 million).