Corbion Q3 2017 interim management statement
27 Ottobre 2017 - 7:00AM
Corbion reported sales of €
680.5 million in the first nine months of 2017, a decrease of 0.7%
compared to the same period in 2016, while organic sales growth in
Q3 was flat. EBITDA excluding one-off items in the first nine
months decreased by 3.6% to € 129.9 million.
"I am pleased to see the
positive momentum continuing with a return to organic sales growth
in Biobased Ingredients in the third quarter. We keep our focus on
sales recovery in Bakery and expect further gradual improvements to
our organic sales growth in Biobased Ingredients. Our EBITDA
profitability remains well above our target level of 18%, despite
the higher sugar input costs," comments Tjerk de Ruiter,
CEO.
Key financial highlights first nine months of
2017:
- Net sales organic growth
YTD was -0.6%; volume growth was -1.3%
- EBITDA excluding one-off
items YTD was € 129.9 million, an organic decrease of
6.0%
- EBITDA margin excluding
one-off items YTD was 19.1%
- One-off items at EBITDA
level of € 5.5 million, mostly in connection with the newly founded
Total Corbion PLA joint venture
- Operating result YTD was €
102.5 million, an organic increase of 7.7%
- The € 25 million share
buyback program was finalized on 18 September 2017
- Acquisition of most of
TerraVia assets finalized on 29 September 2017
|
€ million |
YTD 2017 |
YTD 2016 |
Total growth |
Organic growth |
|
Net sales |
680.5 |
685.2 |
-0.7% |
-0.6% |
|
EBITDA excluding one-off items |
129.9 |
134.8 |
-3.6% |
-6.0% |
|
EBITDA margin excluding one-off items |
19.1% |
19.7% |
|
|
|
Operating result |
102.5 |
93.1 |
10.1% |
7.7% |
20171027 PR 3Q17 ENG
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The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Corbion via Globenewswire
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