Corbion Q1 2018 Interim Management Statement
26 Aprile 2018 - 7:00AM
Corbion Q1 2018 Interim Management Statement
Corbion reported sales of €
213.0 million in the first quarter of 2018, a decrease of 7.4% due
to currency effects. Organic sales growth was 2.5%, due to a strong
increase in Biochemicals and Innovation Platforms. EBITDA excluding
one-off items decreased by 19.2% to € 38.6 million due to currency
effects and higher input costs.
"The start of the year saw a
continued positive momentum with organic sales growth recovery in
Ingredient Solutions, that has returned to the 2-4% target range.
As anticipated, a weaker US dollar and negative raw material price
effects have put pressure on our Ingredient Solutions EBITDA,
nevertheless we were able to maintain a healthy margin in this
business segment. We are experiencing improving market dynamics in
bioplastic PLA, which is encouraging for the future development of
our PLA joint venture plant, which is scheduled to open later this
year.", commented Tjerk de Ruiter, CEO.
Key financial highlights
first quarter of 2018
-
Net sales organic growth
was 2.5%; volume growth was 2.3%
-
EBITDA before one-off
items was € 38.6 million, an organic decrease of
1.4%
-
EBITDA margin before
one-off items was 18.1% (21.0% for Ingredient
Solutions)
-
Positive one-off item of €
0.7 million related to a land sale in Italy
-
Operating result was €
30.0 million, an organic decrease of 9.0%
|
€ million |
YTD 2018 |
YTD 2017 |
Total growth |
Organic growth |
|
Net sales |
213.0 |
229.9 |
-7.4% |
2.5% |
|
EBITDA excluding one-off items |
38.6 |
47.8 |
-19.2% |
-1.4% |
|
EBITDA margin excluding one-off items |
18.1% |
20.8% |
|
|
|
Operating result |
30.0 |
41.0 |
-26.8% |
-9.0% |
20180426 Corbion PR 1Q18
ENG
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
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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