Corbion full year 2017 results
07 Marzo 2018 - 7:00AM
Corbion reported net sales
of € 891.7 million in 2017, a decrease of 2.2% compared to
2016.
Organic net sales growth in Q4 was 0.4%.
EBITDA excluding one-off items in 2017 decreased by 3.5% to € 164.1
million. The company proposes to distribute a regular dividend of €
0.56 per share.
"I am pleased to see the positive sales momentum
continuing in Ingredient Solutions in the second half of 2017. Our
performance in 2017 was satisfactory except for the volume
developments in Bakery. Growth in Meat and Biochemicals was
encouraging. We accelerated our efforts in Innovation Platforms
with the establishment of the Total Corbion PLA joint venture, and
the acquisition of an algae ingredients platform. In November we
presented our 'Creating Sustainable Growth' strategy for the
2018-2021 period", comments Tjerk de Ruiter, CEO.
Key financial highlights FY 2017*:
-
Net sales organic growth was -0.4%; volume
growth was -1.9%
-
EBITDA excluding one-off items was € 164.1
million (€ 167.0 million excluding € -2.9 million impact of the
TerraVia acquisition in Q4)
-
EBITDA margin before one-off items was 18.4%
(2016: 18.7%)
-
One-off items at EBITDA level of € 6.4
million
-
Operating result was € 122.3 million, an organic
decrease of 2.4%
-
Free cash flow was € 24.2 million (2016: €72.1
million). The decline is mostly due to the newly founded Total
Corbion PLA joint venture and the acquired TerraVia
assets
-
Net debt/EBITDA at year-end was 1.0x (year-end
2016: 0.6x)
| €
million |
FY 2017 |
FY 2016 |
Total growth |
Organic growth |
| Net sales |
891.7 |
911.3 |
-2.2% |
-0.4% |
| EBITDA excluding one-off items |
164.1 |
170.1 |
-3.5% |
-2.3% |
| EBITDA margin excluding one-off items |
18.4% |
18.7% |
|
|
| Operating result |
122.3 |
126.9 |
-3.6% |
-2.4% |
| ROCE |
17.4% |
20.6% |
|
|
20180307 PR 4Q17 ENG
final
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announcement is distributed by Nasdaq Corporate Solutions on behalf
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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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