Brief: Corbion FY Adjusted Ebitda Down At 135.8 Million Euros

Corbion NV

25/02/2022 06:45

Feb 25 (Reuters) - Corbion NV  CORB.AS :
    * FY OPERATING RESULT EUR 82.0 MILLION VERSUS EUR 104.1
MILLION
YEAR AGO (CORRECTS METRIC)
    * FY SALES 1.071 BILLION EUR VERSUS 986.5 MILLION EUR YEAR
AGO
    * FY TOTAL NET SALES WAS EUR 1,070.8 MILLION (FY 2020: EUR
986.5
MILLION)
    * FY NET SALES ORGANIC GROWTH WAS 14.7%. CORE NET SALES
ORGANIC
GROWTH: 15.0%
    * FY ADJUSTED EBITDA WAS EUR 135.8 MILLION (FY 2020: EUR
158.8
MILLION; ORGANIC DECREASE: 7.6%)
    * FY FREE CASH FLOW WAS EUR -97.0 MILLION (FY 2020: EUR 32.1
MILLION)
    * END-FY COVENANT NET DEBT/COVENANT EBITDA AT YEAR-END WAS
2.6X
(YEAR-END 2020: 1.7X)
    * FY NET SALES EUR 1,070.8  MILLION VERSUS EUR 986.5 MILLION
YEAR
AGO
    * FY ADJUSTED EBITDA EUR 135.8 MILLION VERSUS EUR 158.8
MILLION
YEAR AGO
    * OUTLOOK 2022:  IN INCUBATOR WE EXPECT TO REACH EBITDA
BREAK-EVEN
IN THE ALGAPRIME DHA BUSINESS DRIVEN BY SIGNIFICANT SALES GROWTH
(ADDS PERIOD)
    * OUTLOOK 2022:  FOR INCUBATOR AS A WHOLE, WE  EXPECT EBITDA
INVESTMENT AT APPROXIMATELY -1% OF CORBION CORE SALES, IN-LINE
WITH OUR  ADVANCE 2025 STRATEGY (ADDS PERIOD)
    * OUTLOOK 2022:  IN LACTIC ACID & SPECIALTIES THE PLA JOINT
VENTURE WITH TOTALENERGIES IS DRAWING INCREASED  VOLUMES OF
LACTIC ACID WHILE THE DERIVATIVES ARE EXPECTED TO CONTINUE TO
PERFORM WELL (ADDS PERIOD)
    * OUTLOOK 2022:  IN SUSTAINABLE FOOD SOLUTIONS WE EXPECT TO
GROW
VOLUMES IN LINE WITH MARKET GROWTH,  FOLLOWING SIGNIFICANT
MARKET SHARE GAINS WE MADE OVER THE PAST TWO YEARS (ADDS PERIOD)
    * PROPOSAL TO DISTRIBUTE UNCHANGED, REGULAR DIVIDEND IN CASH
OF €
0.56 PER ORDINARY SHARE TO BE SUBMITTED FOR APPROVAL TO ANNUAL
GENERAL MEETING OF SHAREHOLDERS

Source text for Eikon:  ID:nL8N2V01CB 
Further company coverage:  CORB.AS 

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