Corbion Q1 2021 Interim Management Statement
April 30 2021 - 1:00AM
Corbion Q1 2021 Interim Management Statement
Corbion reported
organic net
sales growth of
9.5%.
Total net
sales were
€
251.5
million in the first quarter of
2021.
Adjusted EBITDA increased
organically by
14.0% to
€ 43.9
million due to improvements in all business
segments. We increase our full year organic growth
outlook.
“I am very pleased with the strong start that we have made to
2021, continuing the positive momentum that we developed in the
first year of our Advance 2025 strategy. We have seen continued
strong demand in Sustainable Food Solutions, despite Q1 2020 having
been positively impacted by the onset of the COVID-19 pandemic.
Growth in Lactic Acid & Specialties was modest in Q1 2021,
mostly due to phasing; we expect significantly stronger growth in
the coming quarters. Growth in Incubator accelerated from last year
due to better traction in the aquaculture sector, putting us on
track for break-even for the omega-3 activities by 2022. The Total
Corbion PLA joint venture continued on its rapid expansion path,
again featuring double digit growth. We are making good progress on
our strategic initiatives such as capacity expansions and
organizational capability building. We expect the organic sales
growth outlook for all three units to remain strong for the year.
We now anticipate organic sales growth for our core activities in
2021 in the 7-10% range, above our multi-year guidance”, commented
Olivier Rigaud, CEO.
Key financial highlights first quarter of
2021
- Net sales growth was -1.9%; organic growth was 9.5% (10.7% for
core activities)
- Adjusted EBITDA was € 43.9 million, an organic increase of
14.0%
- Adjusted EBITDA margin was 17.5% (17.4% for core
activities)
- Operating result was € 58.8 million
- One-off result after taxes impact of € 29.7 million due to sale
of plot of land in the municipality of Breda (NL) and our frozen
dough activities (US)
- 20210430 1Q21 Corbion PR final ENG
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