Corbion sales rise, EBITDA increases

24 Oct 2016

Corbion has reported sales of €685.2 million in the first nine months of 2016, a decrease of 0.4%. EBITDA excluding one-off items increased by 15.1% to € 134.8 million.

Corbion sales rise, EBITDA increases

Corbion has reported sales of €685.2 million in the first nine months of 2016, a decrease of 0.4%. Organic sales growth was -0.2%, driven by volume declines partially offset by improvements in price/mix. EBITDA excluding one-off items increased by 15.1% to € 134.8 million.

"Our profitability increased substantially, driven by a combination of business mix improvements, cost savings, and lower input costs,” said Tjerk de Ruiter, CEO. “However, our top-line growth in Q3 was clearly below our ambition level. Growth is negatively affected by our process of improving the portfolio profitability and the adverse effects of customer consolidation. We anticipate these effects to be of a temporary nature, and remain confident that we will achieve our multi-year guidance.”