Corbion: announces H1-2024 financial results

Amsterdam / NL. (cb) Dutch Corbion NV, the Amsterdam-listed sustainable ingredients company that champions preservation through the application of science, publishes its results for the first half ending 30 June 2024. Commenting on the results, Chief Executive Officer Olivier Rigaud stated: «We delivered a strong performance in the first half of 2024 demonstrating the underlying strength of our business. I am pleased to see continuation of our positive volume/mix growth and Adjusted Ebitda growth as well as a continuation of our positive free cash flow delivery. We made good progress in the implementation of our restructuring program, delivering increased margins. Building on Corbion’s first half performance, where we saw strong Adjusted Ebitda growth, we are well on-track to deliver in line with our full year guidance.

«We saw positive momentum in Functional Ingredients + Solutions with strong volume/mix in our Food segment, partially offset the Biochemicals segment where we continue to see temporary softness in some markets. In line with our earlier guidance, pricing has been lower as a result of price reductions in some areas following input cost relaxation. In Health + Nutrition, we continue to see strong double digit growth in both sales and adjusted Ebitda mainly driven by the Nutrition segment (Omega-3 DHA within aquaculture and pet nutrition).

«Upon the completion of the start-up phase of our new circular lactic acid plant in Thailand, we are expecting to gradually ramp up. The first volumes of lactic acid from this new plant have been produced.

«Following the divestment of Emulsifiers, new targets have been submitted for validation to the Science Based Targets initiative. These increased targets are aligned with the ambition of keeping global warming below 1.5° Celsius. The ambition is to reduce our absolute scope 1 and 2 emissions with 42 percent and our absolute scope 3 emissions with 25 percent by 2030.» For additional info read the PDF file below (231 KB):

20240810-CORBION-H12024.