Corbion reports sales growth, profit improvement, and positive free cash flow driven by strong Q3 and upgrades full year guidance
CORBION NV UNSP/ADR (CSNVY)
NASDAQ:AMEX Investor Relations:
corbion.com/investor-relations
Company Research
Source: GlobeNewswire
Corbion, the Amsterdam-listed sustainable ingredients company that champions preservation through application of science, today publishes its results for the first nine months of 2023. Key highlights first nine months 2024: Organic sales growth: +2.6% (Q3: +9.2%): Volume/mix: +6.1% (Q3: +11.1%)Price: -3.5% (Q3: -1.9%) Continued Operations: Sales € 972.9 million (Q3: € 335.8 million)Adjusted EBITDA € 135.7 million (Q3: € 49.6 million)Operating profit € 62.1 million (Q3: € 28.5 million) Free Cash Flow € 302.1 million, € 50.8 million when excluding divestment proceedsContinued double digit growth in sales and Adjusted EBITDA in Health & NutritionContinued positive volume/mix development in Functional Ingredients & SolutionsFY 2024 outlook upgrade: Volume/mix growth 5% [previously 2 – 6%]Adjusted EBITDA organic growth 22 – 25%
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