Corbion sees sales, profit rise

businessman-drawing-rising-arrow-over-bar-graph-above-city-42896036Corbion has reported Q1 2015 net sales of €220.0 million, an increase of 20.4% compared to Q1 2014. EBITDA of €37.2 million in Q1 2015 was up by 48.2% year-on-year. Both net sales and EBITDA growth were strongly supported by currency effects, the company said. Organic net sales growth for the quarter was 4.3% in Biobased Ingredients and 52.7% in Biobased Innovations.

 

“Q1 was another strong quarter for Corbion,” said Tjerk de Ruiter, CEO. “Organic sales growth for both Food and Biochemicals business segments was either above or in the respective guidance ranges as mentioned in the October 2014 Strategy Update. Good underlying growth, phasing effects, and strengthening of the US dollar resulted in an exceptionally high EBITDA. I am pleased that on top of these strong results, we have made good progress with the implementation of our new organizational model and program Streamline.”

 

Net sales organic growth was 4.9% vs Q1 2014. Volume growth was 3.0%. Net sales were positively impacted by € 28.4 million currency translation. At constant currencies, EBITDA increased by 32.7% to € 33.3 million.